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Power machines pays Q1 dividends in full

OJSC Power machines - ZTL, LMZ, Electrosila, Energomachexport
OJSC Power machines - ZTL, LMZ, Electrosila, Energomachexport has completely paid the dividends for Q1 2014 transferring RUB 6.299 billion to the shareholders, the company informed.

The amount of dividends was RUB 0.72 per share of common stock.

Power Machines Group (tax number: 7702080289), a Russian manufacturer and supplier of the equipment for hydraulic, thermal, gas and atomic power stations, for the transmission and distribution of electric power, also produces the transport and railway equipment. It includes Leningradsky Metallichesky Zavod (English: Leningrad Metal Plant), Elektrosila, OJSC Zavod Turbinnykh Lopatok, NPO TsKTI imeni Polzunova (all located in St.-Petersburg), OJSC Kaluzhskiy Turbinny Zavod (English: Kaluga Turbine Works) as well as the sales companies Energomashexport LLC and Power Machines-zavod Reostat LLC. The equipment produced by the enterprises of the group is operating at production enterprises in 57 countries of the world.

The authorized capital of OJSC Power Machines is RUB 87.089 million represented by 8,708,938,708 common shares at par value of RUB 0.01. In 2007, A. Mordashov through Highstat Limited consolidated about 55% of shares of the company previously belonging to the holding company Interros and RAO UES of Russia. Later, he increased his stake to 70.06% of shares. On December 1, 2011, Siemens completed the sale of 25% of Power Machines to Highstat.

IFRS net profit of OJSC Power Machines for H1 2014 decreased by 36.41% to $118.792 million from $186.821 million the year before. Revenue decreased by 10.33% to $877.893 million from $979.049 million, operating profit by 20.61% to $174.014 million from $219.197 million.

According to the DataCapital information retrieval system, RAS net profit of Power Machines for H1 2014 decreased by 28.27% to RUB 2.923 billion from RUB 4.075 billion the year before. Revenue increased by 4.62% to RUB 19.38 billion from RUB 18.525 billion, sales profit decreased by 7.19% to RUB 4.195 billion from RUB 4.52 billion, pre-tax profit by 27.07% to RUB 3.584 billion from RUB 4.914 billion.

"AK&M", 13.08.2014


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