Izhneftemash Announces Financial Results of H1 2014

19.08.2014



After 6 months of 2014 Izhneftemash (a Rimera Group company), Russia's leading manufacturer of oil and gas field equipment used for drilling, completion and servicing of oil and gas wells and production of oil, has reported a net profit of RUR 25,439,000 versus RUR 46,465,000 of losses a year earlier.

Izhneftemash Announces Financial Results of H1 2014

Izhneftemash Announces Financial Results of H1 2014

Revenues grew by 23.4% – from RUR 833,088,000 to RUR 1,027,918,000, and gross profit tripled from RUR 57,587,000 to RUR 174,793,000. The above figures have been achieved by increasing production and sales.
Positive dynamics has been reported in all the key segments of presence: thus, sales grew almost 2.8 times for mixing systems, 2.5 times for drill pumps, 1.5 times for pumpjacks, and 1.3 times for sucker rod pumps.
In the first half of the year Rimera Group's Izhevsk-based company has increased its exports by 38%, including a 98% increase of exports to Belarus and 52% to Kazakhstan.
Izhneftemash has also increased sales to its Russian buyers, e.g., Lukoil, Bashneft, Tatneft, Surgutneftegaz.

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