A margine, un chiarimento ai media della Sukhoi Civil Aviation Company sulla situazione finanziaria del gruppo:
Clarification for the Media
Today, on 11 July 2013, news about “Sukhoi Civil Aircraft” financial problems appeared in a number of Russian media. JSC “Sukhoi Civil Aircraft” is the manufacturer of SSJ 100 and a JSC “United Aircraft Corporation” subsidiary. JSC “Sukhoi Civil Aircraft” states that current financial state of the company allows it to fulfill all its commitments.
The company never hid that development of the SSJ 100 project is largely carried out via engaging external credits. More than 60% of the project cost was financed by JSC “Sukhoi Civil Aircraft” via credit resources. Currently the debts of the company surpass $2 billion. Credit payments and commitments fulfillment are on schedule and comply with current financial development strategy in full. Work with “Sukhoi Civil Aircraft” credit portfolio and securing the
debt service obligations has already been in progress by now. In 2012 VEB opened line of credit for $1 billion for SSJ 100. These actions have also full support of the company’s major shareholder – JSC “Sukhoi Company”, as well as of JSC “UAC”.
At the moment JSC “Sukhoi Civil Aircraft” is continuing its work in order to increase aircraft production rate. SSJ 100 order portfolio consists of 179 aircraft. In 2011 5 aircraft were built, in 2012 – 12. Since the beginning of this year 10 aircraft have been produced already, 26 will be produced this year in total. In 2014 40 aircraft will be produced will further planned production rate increase.
Package of measures being currently developed will allow the project to achieve planned performance levels. In particular, together with JSC “UAC” and other structures the analysis of possible debt restructuring is carried out. Possible SSJ 100 program support options are also under discussion – both direct support aimed at liquidity upsurge and ownership capital increase, and aircraft sales
financing support measures. According to the
business plan, break-even is planned starting from 2015, when total revenue will amount to more than $1.5 billion. By 2018 total revenue will amount to more than $2 billion. Operating surplus will be achieved this year and starting from 2015 “Sukhoi Civil Aircraft” will achieve positive net cash flow, which will allow to make the company financially stable.
http://www.scac.ru/en/mediacenter/clarification-for-the-media11-07-2013/2013/