PJSC Motor Sich (Zaporizhia) in January-September 2021 received UAH 920.03 million of net profit, which is 0.7% less than in the same period in 2020.
According to the interim consolidated financial report of Motor Sich on the website, net income for the nine months of this year increased by 25.9% – to UAH 9.696 billion.
The company’s gross profit increased by 5.4% – to UAH 3.375 billion, while operating profit decreased by 35.4% – to UAH 1.078 billion.
According to the balance sheet, the company’s retained earnings at the end of September reached UAH 19.14 billion.
“During the reporting period, Motor Sich increased the share of sales of new types of equipment in the total volume of sales and continues to work towards achieving the planned profitability indicators of such projects. The diversification strategy of production is expected to offset the decrease in receipts for products that are approaching the end of their life cycle in the long term,” the report says.
According to the report, for the nine months of this year, serial aircraft engines accounted for about 56% of production and sales, and helicopters – about 10.6%. Another 8.2% of production and 7% of sales came from aircraft engine repairs.
Motor Sich is one of the world’s largest manufacturers of engines for aviation equipment, as well as industrial gas turbine units. It supplies products to more than 100 countries around the world.
