United Aircraft Manufacturing Company. OJSC "oak"

– a public joint-stock company, a corporation that unites a number of companies that create and maintain aviation equipment for civil and military purposes.

Source: http://www.uacrussia.ru/

Military aviation

MiG-29K/KUB

Transport aviation

Il-76MD-90A

Special purpose aviation

UAC enterprises

  • Mutilrole Transport Aircraft Limited
  • SuperJet International
  • JSC "KAPO-Composite"
  • JSC Aviastar-SP
  • JSC Sukhoi Civil Aircraft
  • JSC Russian Aircraft Corporation MiG
  • JSC "AeroComposite"
  • Irkutsk Aviation Plant (IAZ) - a branch of PJSC Irkut Corporation
  • Kazan Aviation Plant named after. S.P. Gorbunova - branch of PJSC Tupolev
  • Komsomolsk-on-Amur Aviation Plant named after Yu.A. Gagarina - branch of PJSC
  • "Sukhoi Company"
  • Novosibirsk Aviation Plant named after V.P. Chkalova - branch of PJSC "Company "Sukhoi"
  • OJSC Aviation Complex named after. S.V. Ilyushin"
  • OJSC "Ilyushin Finance Co."
  • JSC Flight Research Institute named after. MM. Gromov"
  • OJSC Nizhny Novgorod Aircraft Plant Sokol
  • JSC "UAC - Transport Aircraft"
  • JSC Experimental Design Bureau named after. A.S. Yakovlev"
  • OJSC "Financial Leasing Company"
  • JSC Experimental Machine-Building Plant named after. V.M. Myasishchev"
  • LLC "UAC - Antonov"
  • LLC "UAC - Procurement"
  • LLC "UAC - Integration Center"
  • PJSC "Voronezh Joint-Stock Aircraft Manufacturing Company"
  • PJSC "Company "Sukhoi"
  • PJSC Scientific and Production Corporation Irkut
  • PJSC Taganrog Aviation Scientific and Technical Complex named after. G.M. Beriev"
  • PJSC Tupolev

Aircraft repair plants

  • JSC 121 ARZ
  • JSC 123 ARZ
  • JSC 360 ARZ
  • JSC "170 RZ SOP" repair plant for flight support equipment
  • OJSC "31 ZATO" aviation-technological equipment plant
  • OJSC "32 RZ SOP" repair plant for flight support equipment
  • OJSC "680 ARZ" aircraft repair plant
  • JSC "720 RZ SOP" repair plant for flight support equipment
  • OJSC "VZ RTO" Volgograd Radio Equipment Plant
  • OJSC 20 ARZ
  • OJSC 275 ARZ
  • OJSC 308 ARZ
  • OJSC 322 ARZ
  • OJSC 325 ARZ
  • OJSC 514 ARZ

Short name: iAviastKao
Security code: UNAC

April 17, 2014 - The Moscow Exchange included ordinary shares of PJSC United Aircraft Corporation in the Innovation and Investment Market (IIM) sector, created to attract investment in companies in the innovative sector of the Russian economy.

UAC shares are included in the RII sector with the aim of positioning the company as a high-tech company, increasing the investment attractiveness and liquidity of the stock market due to additional demand from investors.

About the Corporation:

PJSC "UAC" was created in accordance with the decree of the President of the Russian Federation of February 20, 2006 No. 140 "On the open joint-stock company "United Aircraft Corporation" in order to preserve and develop the scientific and production potential of the aircraft manufacturing complex of the Russian Federation, ensure the security and defense capability of the state, concentration of intellectual, production and financial resources for the implementation of promising programs for the creation of aviation equipment.

Today the Corporation unites about 30 enterprises of the Russian aviation industry; joint ventures with foreign partners operate in India and Italy. The corporation has the rights to such world-famous brands as Su, MiG, Il, Tu, Yak, Beriev, as well as new ones - SSJ, SBJ and MS-21. The Corporation's enterprises employ about 100 thousand people.

The main activities of the Corporation are development, production, testing and operational support, warranty and service maintenance of civil and military aviation equipment. In addition, the Corporation is engaged in the modernization, repair and disposal of aircraft, training and advanced training of flight personnel.

The largest share in the revenue structure is occupied by the production and sale of military aircraft, both for the Ministry of Defense of the Russian Federation and for foreign customers. Since 2013, the main share of military equipment supplies has been supplied to the domestic market. At the same time, the global civil aviation market, as the most capacious, is the main development priority of the Corporation. The product strategy provides for increasing the Corporation's share in the global civil aviation market through the formation of a product range of global products: SSJ 100, MS-21, as well as other potential projects, incl. wide-body aircraft in collaboration with COMAC.

The Corporation's key strategic goal is to achieve the status of the third global aircraft manufacturing center by 2025. In accordance with the Long-term Development Program, by 2025 it is planned to increase revenue to more than 800 billion rubles, while the return on sales on net profit should be more than 10%.

Shares of PJSC "UAC" are traded on the Moscow Exchange under the ticker UNAC, included in the Second Level Quotation List and the Innovation and Investment Market sector of the Moscow Exchange.

Disclosure:

PJSC "United Aircraft Corporation"- Russian public joint-stock company uniting the largest aircraft manufacturing enterprises in Russia.

As of December 2015, UAC includes about 30 enterprises and is one of the largest players in the global aircraft manufacturing market. Companies included in the structure of the Corporation have the rights to such world-famous brands as “Su”, “MiG”, “Il”, “Tu”, “Yak”, “Beriev”, as well as new ones - SSJ, MS-21.

The Corporation's priority areas of activity are development, production, testing and operational support, warranty and service maintenance of civil and military aviation equipment.

The areas of work of UAC companies include the modernization, repair and disposal of aircraft, personnel training and advanced training of flight personnel.

As of 2015, the largest share in the production structure is occupied by military products, both for the Ministry of Defense of the Russian Federation and for foreign customers. Moreover, since 2013, the main share of military equipment supplies has been supplied to the domestic market.

Assets

As of December 2015, the corporation includes about 30 aviation industry enterprises, including:

  • “Komsomolsk-on-Amur Aviation Production Association named after Yu.A. Gagarin",
  • “Novosibirsk Aviation Production Association named after V.P. Chkalov"
  • "Ilyushin Finance"
  • Financial leasing company

and other companies.

Organizational structure

2018

At the regular general meeting of shareholders of PJSC United Aircraft Corporation (PJSC UAC), held on June 29, 2018, the following composition of the Board of Directors of the Company was elected

Performance indicators

2017

At the end of 2017, the United Aircraft Corporation (UAC) received a net profit according to Russian accounting standards (RAS), as well as at the end of 2016, Alexey Demidov, vice president of the corporation for economics and finance, said in March 2018. The net profit of the UAC Group for 2017 amounted to 1.1 billion rubles, which is 10% higher than the result of 2016. Revenue reached 428.8 billion rubles, exceeding the 2016 figure by 9%. A. Demidov emphasized that the results under International Financial Reporting Standards (IFRS) will differ from the results under RAS. This is due to differences in approaches to assessing revenue, reflecting R&D costs and creating reserves.

2016

The Group's revenue for the year amounted to 395 billion rubles. At the same time, the Corporation made a profit for the first time in 2016 in the amount of 1 billion rubles. The consolidated revenue of the UAC Group according to IFRS standards at the end of 2016 amounted to 417 billion rubles. Revenue growth of more than 20% compared to the previous year was primarily due to a 60% increase in the volume of after-sales support and modernization of aircraft, including the supply of components (RUB 93 billion). The increase in revenue from aircraft deliveries amounted to 6% (RUB 219 billion). This is due to differences in approaches to assessing revenue and creating reserves. EBITDA, which characterizes operating profit, exceeded 30 billion rubles.

Due to differences in the revenue recognition methodology (according to IFRS principles, revenue for a number of contracts is recognized in proportion to the degree of completion of the aircraft) and due to the accumulated production backlog in accordance with the planned growth in aircraft deliveries in 2017, revenue under IFRS standards exceeds the same RAS indicator by more than 20 billion . rubles.

UAC Group's export revenue in the reporting year more than doubled to RUB 203 billion. Revenue from the civilian segment in the reporting year exceeded RUB 69 billion. Increasing both indicators is an important part of implementing the UAC strategy.

Over the past two years, revenue has grown by almost 40%. With a decrease in revenue from supplies to the domestic market and through state defense orders, the main growth factor was export supplies and work on after-sales support and modernization of aircraft, including the supply of components. Revenue from aircraft export deliveries in dollar terms for the period 2015-2016. has more than doubled.

This result was achieved through the sale of Su-35, Su-30 aircraft and deliveries of SSJ100 to foreign customers, including the first deliveries to the European market.

The debt level (based on the ratio of net debt to revenue) decreased from 0.8 in 2014 to 0.5 at the end of 2016.

UAC expects further sustainable revenue growth while maintaining a positive financial result for the Group as a whole. The Corporation expects to increase profits by increasing export supplies of aviation equipment and reducing costs, including as part of the implementation of measures to optimize the industrial model and organizational structure.

The implementation of the Corporation's development plan will be ensured through the investment budget of the UAC Group, which for the period 2017-2019. will amount to 400 billion rubles. The Corporation's main investments will be directed towards the implementation of civil aviation programs, as well as the development and modernization of the model range of military equipment. In the civilian segment, this is, first of all, the MS-21 program, which is at the peak stage of investment in development work and preparation of mass production, as well as the SSJ100 program in terms of organizing service, sales support, reducing production costs and the cost of ownership of the aircraft by ship.

2015

In the reporting year, the sales volume of aircraft remained at the level of the previous year – 156 units. in 2015 compared to 159 units. in 2014. The main share in consolidated deliveries is provided by the military aviation segment: as in the previous year, customers received 124 combat aircraft. In 2015, 90 aircraft of the Su-30, Su-34, Su-35, MiG-29 and Yak-130 types were delivered to the Russian Ministry of Defense. As part of export contracts for military equipment in 2015, a total of 34 aircraft such as Su-30, MiG-29 and Yak-130 were delivered to a number of foreign customers.

Positive dynamics also appeared in the transport aviation segment: serial production of Il-76MD-90A aircraft was launched at the Ulyanovsk Aviastar-SP plant, and in 2015 customers received the first two aircraft.

In the civil aviation segment, the largest share of deliveries - 25 aircraft - was the Sukhoi Superjet 100 (SSJ 100). Of these, 20 are new aircraft for Aeroflot, Interjet, Gazprom Avia and a number of other customers. In addition, 5 SSJ 100 aircraft, as part of remarketing procedures, were transferred to the State Transport Leasing Company for their subsequent delivery to Russian regional carriers under operating leasing terms.

The revenue of the UAC Group of Companies at the end of the year increased by 19% and reached 352 billion rubles. – this is the highest figure in the entire history of the UAC. The growth in revenue in the reporting year is primarily due to an increase in income from:

  • fulfillment of contracts for the construction of aircraft ─ for 50 billion rubles;
  • modernization and overhaul of equipment ─ by 10 billion rubles.

In the reporting year, the UAC Group of Companies managed to receive a gross profit of 45 billion rubles, while the gross profitability indicator of 13% was due to the high share of revenue from government defense orders (these contracts have restrictions on marginal income established by regulations).

At the same time, when preparing consolidated financial statements, it was decided to carry out one-time transactions that resulted in a change in the operating result, including:

  • impairment of non-current assets by 30 billion rubles;
  • write-off and impairment of current assets ─ by 17 billion rubles;
  • creation of reserves ─ by 12 billion rubles.

Operations on impairment and write-off of assets formed on the balance sheet of the UAC Group of Companies over the past few years were carried out based on the results of assessing their fair value.

In addition, the final financial result was significantly impacted by an increase in financial expenses, which occurred, among other things, due to changes in the macroeconomic environment:

  • increase in interest expenses ─ by 11 billion rubles;
  • growth of other financial expenses ─ by 14 billion rubles.

As a result, the measures taken led to a net loss for the UAC Group of Companies at the end of the reporting period in the amount of 109 billion rubles.

At the same time, in the reporting year there was a decrease in consolidated net debt by 35% to 169 billion rubles, primarily due to strategic support from the main shareholder - the Russian Federation - expressed in the additional capitalization of UAC by 100 billion rubles. for the purpose of financial recovery of the Sukhoi Superjet 100 program.

2014

As part of the implementation of aircraft production contracts, there has been an increase in aircraft deliveries from 111 units. in 2013 up to 159 units. in 2014.

At the end of 2014, the company took 14th place in the list of the world's 100 leading arms manufacturers, prepared by the Stockholm Peace Research Institute (SIPRI). The company's weapons sales in 2014 amounted to $6,110 million.

The growth in aircraft sales is ensured, first of all, by an almost double increase in deliveries of military aircraft to the Russian Ministry of Defense compared to last year – from 54 to 102 units. In addition, as part of the civil aviation business line, 27 SSJ 100 aircraft were delivered to customers in 2014, incl. 9 aircraft are for export.

The Group’s revenue at the end of 2014 increased by 34% to RUB 295 billion. The growth in revenue in the reporting year is primarily due to an increase in income from:

  • modernization and overhaul of equipment for the Ministry of Defense of the Russian Federation, carried out incl. at 15 aircraft repair plants that were included in the management contour of JSC UAC in 2013-2014, ─ by 35 billion rubles;
  • sales of aircraft components and aviation equipment ─ by 17 billion rubles.
  • R&D ─ by 10 billion rubles.

In 2014, the UAC group of companies managed to increase gross profit by 10% to 48 billion rubles, while the decrease in gross profitability to 16% was due to an increase in the share of revenue from government defense orders (these contracts have restrictions on marginal income established by regulations RF).

Increased aircraft production and revenue resulted in improved EBITDA and operating profit margins in absolute and relative terms. At the end of 2014, EBITDA showed an increase of 45% and reached RUB 24 billion.

Despite the positive dynamics, the corporation failed to achieve net profit in 2014, which is primarily due to:

  • high level of depreciation charges totaling 22 billion rubles. due to the implementation of a wide range of investment programs for modernization and technical re-equipment;
  • servicing the loan portfolio: interest expenses amounted to almost 23 billion rubles;
  • negative exchange rate differences: loss due to exchange rate differences exceeded 3 billion rubles.

2013

At the end of 2013, UAC entered the top three world leaders in the military-industrial complex in terms of sales growth. The United Aircraft Corporation entered the top three world leaders in terms of growth in arms sales. With such data, a report was published by the authoritative Stockholm Peace Research Institute (SPIRI), which drew a line under its own statistical calculations for 2013.

At the same time, as recorded in the rating, UAC managed to increase sales of its products by 20%, to $5.5 billion. The SIPRI rating of the 100 largest global military-industrial companies has been published since 1990 and takes into account domestic and export supplies of military goods, as well as the provision of services for military customers.

The revenue of JSC UAC in 2013 exceeded the same value in 2012 and amounted to 12.1 billion rubles. In 2013, as part of an optimized financing scheme, JSC UAC received a subsidy in the amount of 1.8 billion rubles from the Federal budget. to compensate for the costs of paying the 5th coupon yield on bond loan No. 4-01-55306-E dated February 22, 2011, which allowed for an increase in other income by 9.77% compared to 2012.

In addition, it was possible to reduce other expenses, incl. by reducing negative exchange rate differences. As a result, the delta of other income/expenses at the end of the year amounted to almost 2.2 billion rubles, which allowed the Company to achieve a positive financial result in the amount of 0.7 billion rubles, a net profit margin of 5.8%, and also reduce uncovered loss of up to 1.5 billion rubles.

The amount of net debt of JSC UAC in 2013 decreased by more than 13.85% and amounted to about 31.0 billion rubles, while positive trends were noted in reducing the share of short-term borrowings in the total debt structure of the Company from 14.68% to 8.72% compared to the beginning of the reporting year, and a reduction in interest expenses by 3.42% compared to 2012.

As part of the analysis of cash flows, an influx of cash from operating activities in the amount of almost 5.9 billion rubles was noted, as well as an almost 6-fold increase in cash flow directed to investment activities, which, nevertheless, made it possible to achieve a positive value of free cash flow and, accordingly, reduce the dependence of the Company’s activities on external sources of financing.

The corporation's mission, which forms the basis of the strategy, is to achieve and maintain the corporation's long-term competitiveness among the leaders in the global aircraft manufacturing market, developing, producing and after-sales service for civil and combat aircraft.

The corporation's target for the strategic perspective of 2025 is to achieve annual revenue of at least 25 billion US dollars and a net profit margin of at least 10%. At the same time, labor productivity should increase by 7.3 times.

The corporation's strategy, adopted at the beginning of 2011, requires updating, including in connection with the adjustment of government documents, such as:

  • State program “Development of the aviation industry” for 2013-2025;
  • Federal target program “Development of the military-industrial complex for 2011–2020”;
  • State arms program until 2020;
  • “Fundamentals of state policy of the Russian Federation in the field of aviation activities for the period until 2020”,
  • Transport strategy of the Russian Federation for the period until 2030.

Information technology at UAC

2019

“The key factor of competitiveness is time. Time to create and launch new products on the market. The only way to radically reduce time is to use information technology. Therefore, we strive to digitalize all business processes. Digital design, virtual testing, creating a production environment around a “digital twin” of a product is an urgent need for us and a key factor in increasing competitiveness. Moreover, the peculiarity of the digital approach is that each “digitized” element of the system forces others to also transform, otherwise it will not be effective on its own,” said the UAC President at the XXIII St. Petersburg International Economic Forum in June 2019, speaking about the future of the aircraft industry.

UAC introduces digital technologies at all stages of the aircraft development life cycle. All the latest models of aviation technology, MS-21, SSJ-100, Il-114-300, CR929 aircraft, are designed using paperless technologies based on 3D modeling, digital twins of products are created, which allows you to analyze and predict many aspects of aircraft behavior using modern software.

In the interests of the program for the reproduction of the modernized Tu-160 aircraft, a unified information environment has been created, within which, using modern software systems, more than 1,800 designers and technologists in different cities are united and working on-line, creating a new aircraft. Computing power allows you to store and process terabytes of data and transmit information over secure communication channels.

Supercomputer modeling technologies are being introduced, which can significantly reduce full-scale testing and semi-natural modeling with pilot testing. This optimizes costs and reduces the time to bring new aircraft to market. For example, the introduction of such technologies in the interests of the IL-114-300 program will lead to a 15% reduction in the number of test flights.

At the production sites where the SSJ-100, MS-21, Il-76MD-90A aircraft are assembled, robotic lines are used, which make it possible to reduce the production cycle time and ensure the positioning of individual elements when joining the airframe structure with maximum accuracy. Moreover, for the first time in the production of a heavy transport aircraft such as Il-76, a domestic robotic assembly line has been created, which makes it possible to increase the speed of aircraft assembly by 4 times. A significant part of the processes in the production of a composite wing for the MC-21, for example, laying out carbon tape, is fully automated.

In the future, UAC plans to create a service for operators of its equipment, which will accumulate all data on the technical condition of the aircraft, which will make it possible to predict and reduce maintenance time, and, ultimately, optimize the direct operating costs of airlines for owning the aircraft. (OAK). The decree on the transfer of shares was signed on October 24, 2018 by Russian President Vladimir Putin. The specified execution period is 18 months. Read more.

2017

Priorities for the year

The Board of Directors of the United Aircraft Corporation (PJSC UAC) approved in March the priority areas of the corporation’s activities for 2017, which are in line with the implementation of the adopted UAC Strategy. The list of projects is grouped into four main sections.

  • Chapter " Strategic changes» includes, in particular, projects to optimize the organizational model and stage-by-stage transformation of the corporate structure, product portfolio, increasing sales, quality and profitability of after-sales service (PSS).
  • Chapter " Resource support for strategic transformations» includes the formation of the principles of a single treasury, provides for the improvement of pricing and cost management in accordance with the target management structure and taking into account changes in the pricing mechanism of the state defense order (SDO), improvement of the UAC investment management system, the formation of the UAC Group policy in matters of public financing, the insurance protection policy of the UAC Group , a number of other projects.
  • Chapter " Strategic management", in particular, involves the implementation of a number of projects in the field of strategic marketing.
  • Chapter " Aviation Program Management» is focused on the tasks of implementing key programs of the UAC Group, for example, PAK FA, Tu-160, SSJ100, MS-21, Il-114, Il-112 and others.

To strengthen control over the implementation of the State Defense Order, the State Defense Order Department has been created in the UAC. In addition, in order to increase the efficiency and transparency of UAC’s activities, as well as strengthen the internal audit function, by decision of the Board of Directors, the position of Director of Internal Audit was introduced.

UAC changed its mind about moving to its new office in the Moscow region

The United Aircraft Corporation refused to move its head office to a new building in Zhukovsky near Moscow. Several real estate consultants told RBC about this and confirmed it within the corporation itself. According to the publication's sources, one of the main reasons was the reluctance of most employees to travel to work in the Moscow region.

UAC has been constructing a building in Zhukovsky at its own expense since 2012. Now the facility is almost finished, finishing work is underway. The area of ​​the office center is 39.9 square meters. m, 1.6 thousand people were supposed to work there. Construction cost the corporation no less than 1.6 billion rubles, estimated the managing partner of S.A. Ricci Alexey Bogdanov.

The refusal to move may be due to a change in the leadership of the UAC after the start of the project. At the beginning of 2015, Mikhail Pogosyan left the post of head of the corporation. He was replaced by Deputy Head of the Ministry of Industry and Trade Yuri Slyusar.

They are looking for another use for the building, but no specific decisions have been made, a UAC representative explained. Perhaps engineering units will be stationed here. We are talking about specialists from a joint venture between UAC and the Chinese COMAC to design a wide-body aircraft.



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