Russia’s Atomenergomash, the Engineering Division of state nuclear corporation Rosatom, increased its consolidated revenues for 2016 to RUB63.3bn ($1bn), an increase of RUB7.2bn or 13%. Ebitda tripled to RUB6.8bn. "In 2014 and 2015 we significantly changed the business model of the division: defined target markets, which we will develop; made appropriate changes to the organisational structure; and significantly increased the order backlog. And now this work has had a positive effect, Atomenergomash Director General Andrey Nikipelov said on 13 March.
In 2016, the share of new business amounted to 43.7% of total revenue. He added: “We also minimised the number of contracts concluded through the head office, and significantly enhance the ability of enterprises to undertake independent contracting. This, of course, reduced the revenue of the management company, but made possible an increase in efficiency, and in the speed of decision making, which significantly increased consolidated figures across the division.”
Nikipelov identified the key challenges facing the company in 2017 further increasing efficiency, reducing the time taken for production and management processes, and increasing revenues and the order book in the nuclear sector and other business areas. The final financial results the Atomenergomash group will be published in its Integrated Annual Report 2016 after the final audit is completed. Open joint stock company Atomenergomash, established in 2006, brings together research institutions, industrial enterprises, engineering and service companies located in Russia, the Czech Republic and Hungary.