10:53 28.03.2016

Motor Sich to pay UAH 30 of dividends per share for 2015

Motor Sich to pay UAH 30 of dividends per share for 2015

Public joint-stock company Motor Sich (Zaporizhia) will pay UAH 30 of dividends per share for 2015.

Art Capital investment company, a shareholder in Motor Sich, said in a press release that the decision was approved by the annual general meeting of shareholders on March 24.

The company said that UAH 62.3 million will be paid in total, and this was 24.8% up year-over-year.

Motor Sich saw a 23% revenue decline in 2015, to $651 million, while in national currency revenue increased by 41%, to UAH 13.78 billion.

Earnings before interest, tax, depreciation and amortization (EBITDA) shrank by 17%, to $278 million and EBITDA margin increased by three percentage points, to 45%.

Motor Sich anticipates that in 2016 production would continue falling by 22.5%.

Motor Sich President Viacheslav Bohuslayev said that supplies to Russia decreased by some 23%, and in 2016 they could decrease by 11-12%. Since 2013, shipments to Russia have halved.

Motor Sich is one of the world's largest manufacturers of engines for aircraft and industrial gas turbines. It supplies products to 106 countries.

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