Revenue Rise for VSMPO-AVISMA Amidst Cost Increases
In the first quarter of 2024, VSMPO-AVISMA reported a revenue increase of 13.4% year-on-year, reaching 24.045 billion rubles (approximately 264.495 million USD). The company's financial performance data revealed in its RAS report did not include net profit figures for the period.
The corporation's total financial results for the first quarter saw a 34% decrease to 4.598 billion rubles (approximately 50.578 million USD). Meanwhile, the cost of sales witnessed a significant hike of 37.7%, totaling 16.87 billion rubles (approximately 185.57 million USD). A notable reduction in other income was also reported, dropping by 1.7 times to 7.37 billion rubles (approximately 81.07 million USD), while other expenses contracted by 2.5 times, amounting to 4.04 billion rubles (approximately 44.44 million USD).
VSMPO-AVISMA's accounts payable escalated from 35.31 billion rubles (approximately 388.41 million USD) at the end of December 2023 to 39.78 billion rubles (approximately 437.58 million USD) by March 2024. Simultaneously, accounts receivable increased from 75.47 billion rubles (approximately 830.17 million USD) to 79.95 billion rubles (approximately 879.45 million USD).
A company with a comprehensive technological cycle that spans from raw material processing to the production of highly machined titanium finished products, VSMPO-AVISMA has not disclosed current shareholder information on its website.
