Net Profit of Stroytransgaz Group of Companies under IFRS reached 906 MIO RUR in 2011

Stroytransgaz has published its complete audited consolidated financial statement under IFRS for twelve (12) months of 2011 including comparatives for 2010.

The key financial figures compared to the results of 2010 are as follows:

• The net profit in the amount of 906 MIO RUR against the losses in 2010 in the amount of 9.8 bn RUR;
• The gross profit in the amount of 2 bn RUR against the gross loss in 2010 in the amount of 6.3 bn RUR;
• The revenue has increased by 31.7% reaching 48.1 bn RUR.;
• The working capital has declined by 24.9% down to 7.2 bn RUR.

The company’s enhanced operating efficiency became the main factor of the net profit growth in 2011. The gross profit margin in 2011 reached 4.2% of the revenue compared to the previous year loss. EBIT profitability reached 9.8%.

Debt/revenue ratio improved, with the ratio of short-term liabilities to revenue reaching 0.55 by the end of 2011 (0.66 in 2010). In March 2012 the company settled credits and loans liabilities in the amount of nearly 12 bn RUR.