The company " Ural Boeing Manufacturing "(Sverdlovsk region), which is a resident of the special economic zone "Titanium Valley", in 2020 received a record loss in the entire history of its existence. This is stated in the company's financial report for the past year.
The document says that in 2020, the company's net loss amounted to 824.4 million rubles. The "daughter" of the American Boeing corporation and the VSMPO-Avisma enterprise has never achieved such low indicators. In 2019, the company reported a profit of 318 million rubles, in 2018-a loss of 649.6 million rubles, for 2017-244.8 million rubles. The company's operations were also unprofitable from 2009 to 2013. The biggest losses for that period were in 2011 (a loss of 156.9 million rubles).
According to the report, last year the company's revenue fell slightly compared to 2019 (from 1.47 to 1 billion rubles). Based on the data provided in the document, the decline in the company's financial indicators was due to a decrease in sales profit (from 257.2 to 49.4 million rubles) and a significant increase in other expenses (from 11.2 to 596.8 million rubles).
The press services of VSMPO-AVISMA Corporation and Boeing could not be reached for immediate comment. They declined to comment.
Ural Boeing Manufacturing is a joint venture between the American company Boeing and VSMPO-AVISMA Corporation. The company performs mechanical processing of titanium alloy forgings for civil aircraft Boeing 737, 777 and 787. In 2017, the company received the status of a resident of the SEZ "Titanium Valley" and was able to enjoy the benefits of the special economic zone.
Pavel Markush