Russian Helicopters (part of State Corporation Rostec) held its Annual General Meeting of Shareholders (AGM) in Moscow on 30 June. The AGM elected the Board of Directors, approved the Company’s annual report and annual financial statements for 2014, and discussed other items on the agenda.

The AGM approved the new Board of Directors as follows:

1)Vladimir Artyakov – first deputy CEO of State Corporation Rostec;
2)Vitaly Baranov – deputy chairman of the board, deputy CEO for administration of Gazrpom Neft;
3)Andrei Boginsky – deputy minister of industry and trade of the Russian Federation;
4)Alexander Dynkin – academician, Russian Academy of Sciences, director of the Institute of World Economy and International Relations (IMEMO) at the Russian Academy of Sciences, member of the Presidium of the Russian Presidential Council for Science and Education;
5)Alla Laletina – head of the legal department of State Corporation Rostec;
6)Dmitry Lelikov, CEO of UIC Oboronprom;
7)Alexander Mikheev, CEO of Russian Helicopters;
8)Sergei Skvortsov, Deputy CEO of State Corporation Rostec;
9)Shiv Vikram Khemka, Vice Chairman of SUN Group.

Deputy Minister of Industry and Trade of the Russian Federation Andrei Boginsky replaced Yury Slyusar, president of the United Aircraft Corporation, on the Board of Directors.

The AGM also approved a final dividend for 2014 of RUB 722 932 945,56 per ordinary share in Russian Helicopters, amounting to 7.56 roubles per share.

As the winner of a competitive tender announced on 18 June 2015, Avantage Audit was appointed the auditor for 2015 of Russian Helicopters’ financial statements to Russian Accounting Standards (RAS). Avantage Audit was also the winner of the previous year’s tender for an RAS auditor.

In addition, the AGM selected members of the Internal Audit Committee, approved related party transactions, and endorsed the new edition of the Russian Helicopters’ Charter.

Russian Helicopters, (part of State Corporation Rostec), is one of the global leaders in helicopter production and the only helicopter design and production powerhouse in Russia. Russian Helicopters was founded in 2007 and is headquartered in Moscow. The company comprises five helicopter production facilities, two design bureaus, a spare parts production and repair facility, as well as an aftersale service branch responsible for maintenance and repair in Russia and all over the world. Its helicopters are popular among Russian ministries and state authorities (Ministry of Defence, Ministry of Internal Affairs, Emergency Control Ministry), operators (Gazpromavia, UTair), major Russian corporations. In 2014 its IFRS revenues increased 22,8% to RUB 169,8 billion. Deliveries reached 271 helicopters.

State Corporation Rostec is a Russian corporation founded in 2007 for the purpose of promoting the development, production and export of hi-tech civilian and military industry products. It comprises 700 organisations, nine of which have now been formed as holding companies of the military-industrial complex, five of them are involved in civil industries and 22 are directly controlled. Rostec’s portfolio includes recognised brands such as Avtovaz, Kamaz, Russian Helicopters, and VSMPO-AVISMA. Rostec’s organisations are located in 60 constituent entities of the Russian Federation and supply their products to the markets of more than 70 countries. The revenue of Rostec in 2013 amounted to RUB 1.04 trillion. The tax deductions into the treasuries at all levels exceeded RUB 138 billion.