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23 Jun, 2010 11:02

EMAlliance posts FY 2009 net profit of 355 million Roubles

EMAlliance posts FY 2009 net profit of 355 million Roubles

Power equipment manufacturer, EMAlliance, has posted a FY 2009 net profit of 355 million Roubles under IFRS.

The bottom line is up 76% year-on-year, however, EBITDA fell 16% to 1.218 billion Roubles, but revenue saw a 29% increase up to 9.593 billion Roubles.

Commenting on the report, EMAlliance president, Timur Avdeenko, said that the results of the Company’s operation in the severe crisis-burden business environment show the stability and the stable development prospects of the Group business.

“We have created a good basis which can be used by us to target further development of the business and increase in orders on hand within new programs for modernization of the existing power stations and erection of the new power generating plants both in Russia and abroad,” he says.