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Press room

16 May 2012 - 12:00

The Board of Kristall Production Corporation Held its Meeting On May 11, The Board of Directors of Kristall Production Corporation held its meeting in Moscow before a similar annual event. The Board has preliminarily approved the company’s annual report, financial statement, profit and loss account for 2011, as well as recommendations on distribution of profits.

On May 11, The Board of Directors of Kristall Production Corporation held its meeting in Moscow before a similar annual event. The Board has preliminarily approved the company’s annual report, financial statement, profit and loss account for 2011, as well as recommendations on distribution of profits.

The Board considered the company’s report on procurement activities in 2011 and the report on its performance to reduce its expenditure indicator while buying goods, works and services, which in 2011 was lowered by 12.2 per cent per one unit of finished products.

Since in 2011 Kristall earned the historically highest revenue, its distributable profit also exceeded all previous levels.

While distributing the profit, the Board of Directors took into account the recommendation of the Federal Agency for State Property Management, under which it was advised to allocate 39.21% of net income for dividends and remunerate the company’s management due to fulfillment of key performance targets.

The Federal Agency for State Property Management plans to issue an executive order tentatively scheduled for June 15, 2012 and related to the decisions of the Annual General Meeting of Shareholders of Kristall Production Corporation.

For reference:

  • The company’s revenue in 2011 reached RUB 16,732.08 million, or 56% higher than the planned target and an increase of 38% over the previous reporting period (in 2010 the manufacturer’s revenue was RUB 12,103.0 million).
  • The company’s net profit in 2011 exceeded that of 2010 more than 1.5 times (RUB 287.995 million versus RUB 187.825 million).
  • The average monthly salary of the industrial personnel in 2011 went up by 20.6% and reached RUB 33,236.
  • The company paid a total of RUB 779.625 million in taxes to the state budgets of all levels.

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KRISTALL PRODUCTION CORPORATION

2 Shkadov Street, Smolensk, 214031, Russian Federation  

Tel.: +7 4812 20 01 00 / Fax: +7 4812 20 70 00

kristall@kristallsmolensk.com

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