Business news from Ukraine

OTIS ELEVATOR PRODUCER SEES 23.5% RISE IN SALES IN 2015

25 April , 2016  

KYIV. April 25 (Interfax-Ukraine) – Private joint-stock company Otis lift producer (Kyiv) made 849 lifts in 2015, and this was 16.6% up on 2014. The company sold 830 elevators (23.5% up year-over-year).

The company said that the share of lifts of total production in money terms was 47.2% or UAH 322.94 million and of total sales – 41.7% or UAH 305.44 million.

The share of lift doors production decreased to 43.6% (from 48.6% in 2014) and lift door sales – to 39.9% (from 48.3%).

Otis in 2015 made 60,885 lift doors worth UAH 298.22 million and sold 60,000 doors worth UAH 291.89 million.

Earlier the company said that lift doors are supplied to Russia.

Otis last year provided UAH 63.08 million worth of lift services (UAH 64.9 million a year ago).

Otis’ net income under Ukrainian accounting standards grew by 21.5% in 2015, to UAH 731.66 million and net profit decreased to UAH 1.93 million compared to UAH 37.23 million in 2014.

Gross profit slid by 29.6%, to UAH 55.91 million and operating loss was UAH 1.55 million compared UAH 28.76 million of profit a year ago.

Otis has been operating on the Ukrainian market since 1992. It is part of U.S. Otis Elevator, the world’s leading manufacturer of elevators, escalators, and moving walkways. Otis Elevator is a subsidiary of United Technologies Corporation (UTC).