Ukroboronprom incorporates about 140 enterprises of Ukraine's defense industry. / Photo from UNIAN
EBITDA margin was 13.8%.
Ukroboronprom, a state-owned manufacturer of military hardware, saw its net profit rise by 7% in the first half of 2020 year-on-year, to UAH 480 million, or US$17.33 million.
The company's net revenue in the first six months of 2020 amounted to UAH 14.4 billion, or US$519.9 million, its press service said. "As we can see, the consortium significantly improved its indicators in the second quarter, and we posted UAH 14.4 billion in net revenue in the first half of the year, almost the same as last year," it said on its website on August 6.
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Ukroboronprom's Deputy General Director Mustafa Nayyem said on Facebook that the volume of commodities manufactured in the first half of 2020 grew by 10% year-on-year, to UAH 14.96 billion, or US$540.1 million.
In particular, the volume of commodities produced for the domestic market increased by 31%, to UAH 7.06 billion, or US$254.9 million; the volume of commodities produced for exports decreased by 4%, to UAH 7.9 billion, or US$285.2 million.
Nayyem also said that EBITDA (earnings before interest, taxes, depreciation, and amortization) in the first half of the year was UAH 1.99 billion, or US$71.8 million, which is 62% up on the first half of 2019. EBITDA margin was 13.8%, which is more than 5 pp higher than a year earlier.
As UNIAN reported earlier, the enterprises that are part of Ukroboronprom made purchases through the ProZorro system for a total of UAH 1.61 billion, or US$58.1 million, in the first quarter of 2020. The open tenders let the companies save UAH 183.09 million, or US$6.61 million, that is, 11.3% of total expenses.
UNIAN memo. State-owned consortium Ukroboronprom was established in 2010 to ensure the effective functioning and management of state-run economic entities engaged in R&D, manufacture, sale, repairing, modernization, and disposal of weapons, military and special equipment and ammunition, as well as participating in military and technical cooperation. Ukroboronprom incorporates about 140 enterprises of Ukraine's defense industry.