REUTERS
Almost all key performance indicators improved in the past year.
Ukraine's state-run Ukroboronprom Concern says it more than doubled its net profit in 2020 (a 108.36% increase) against 2019, to UAH 2.5 billion, or US$90 million (under the National Bank's current forex rate), having fulfilled the 2020 financial plan by 121.9%.
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"Ukroboronprom's net income in 2020 increased by UAH 1.7 billion (over US$60 million) compared to the previous year and amounted to UAH 37.4 billion (US$1.2 billion). The Concern's operating profit in 2020 amounted to UAH 4.9 billion (over US$175 million) compared to UAH 1.4 billion (over US$50 million) back in 2019," the report said.
The portfolio of orders of the Concern's enterprises increased by 21% in 2020. In particular, there was a rise in the number of new orders in direct sales and government defense orders (by 73% and 79%, respectively).
"Our tasks for 2021 are the following: to increase production and ensure timely and high-quality execution of contracts under the state defense order, which has already been approved by the Verkhovna Rada Committee on National Security, Defense and Intelligence, to boost exports of goods and services, which shall return Ukraine to the top ten countries in the global weapons market. And, of course, the successful implementation of a comprehensive reform in the state defense industry," the press service quoted Ukroboronprom CEO Yuriy Husyev as saying.
Ukraine's state-run Ukroboronprom Concern was founded in 2010 to ensure the effective operation and management of state-run economic entities involved in the development, manufacture, sale, repair, upgrade, and disposal of weapons, military and special equipment, and ammunition. Ukroboronprom's enterprises also participate in military and technical cooperation.