09 August 2016
The six months net income was negative162.7 million rubles. This was caused by the inclusion of a commission fee for the advance payments received from Rosoboronexport, one of Aviaagregat’s key partners, in selling expenses. Expenses from exchange rate differences under export contracts were also a factor.
“The company has now a long-term orders portfolio. According to our forecasts, we will turn profitable in Q3,” said Aviaagregat CEO Pavel Mayorov. “We hold a stable position on the market. Given our internal reserves, investment programs, and planned organizational and technical measures, we expect a positive financial result by the end of the next quarter. "