“Kalashnikov aims for first profit

The Kalashnikov Concern, founded last year, which is the Russian leader in the production of military weapons, including automatic weapons and sniper rifles, has managed to reach a zero balance by the beginning of this year and hopes to make its first profit in the future. It was announced by Sergei Chemezov, general director of Rostec.

Earlier, Alexey Krivoruchko, the head of Concern Kalashnikov, reported probable losses of 1.7 billion rubles. Chemezov explained the situation as follows: “The concern managed to reduce costs in a very short period of time, coming to a zero balance. At this rate by the end of this year we will get the first profit”.

Concern Kalashnikov was created on the basis of two factories – Izhmash and Izhmeh. Each of the companies was the largest state entity in its industry, and their association undeniably gave rise to the largest player in the arms market. In the future the concern may include a number of smaller plants.

A special feature of the Kalashnikov Concern is the fact that Rostec has tried out public-private relations for the first time, resulting in the sale of less than half of the Concern’s shares to private hands. The proceeds from the sale of shares reached 2.5 billion rubles.

Since the performance of the new company has not yet stabilized, comparing the success of the concern with earlier periods will not give definite information. According to official figures, the group has managed to increase production by 230% over the year. Naturally, it is impossible to maintain such a pace in the future, but a positive dynamics is evident. Moreover, the increase in indicators is observed in all industries in which the concern is involved.

Concern Kalashnikov exports products to 27 countries. This includes the U.S., Britain, Italy, Germany, Norway and others.

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