Tactical Missiles Corporation’s export portfolio at $3 bln

MOSCOW, Feb 14 (PRIME) -- The portfolio of export orders of Russia’s largest producer of missiles Tactical Missiles Crop ration stands at almost U.S. $3 billion, and revenue amounted to about 230 billion rubles in 2019, CEO Boris Obnosov told reporters on Friday.

“Preliminary financial figures of the corporation are as follows. Revenue grew slightly as compared with 2018, the combined amount stands at about 230 billion rubles. Speaking of the portfolio of export orders, its amount is getting close to $3 billion. This should secure an increase in revenue in 2020,” he said.

The company planned to raise its revenue by 10–15% on the year in 2019, but failed to do so as several export orders were delayed to 2020 and as there were some problems with mass production. Exports contracted to around $700 million in 2019. But the state defense order was fulfilled, so the company posted a net profit of 20 billion rubles last year, he said.

The company’s personnel contracted by 4% to about 55,000 people last year as it is switching to new technological processes that require fewer staff to maintain, he said.

(63.6016 rubles – U.S. $1)

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