Russian Helicopters, part of State Corporation Rostec, held its Annual General Meeting of shareholders (AGM) on 30 June 2014. The AGM elected a new Board of Directors, approved the members of the Audit Committee, the annual report and the Company’s annual financial statements for 2013, and discussed other items on the agenda.

The AGM approved the new Board of Directors as follows:

•     Vladimir Artyakov, first deputy CEO of Rostec;
•     Vitaly Baranov, deputy CEO for administration of Gazrpom Neft;
•     Kirill Gaidash, head of the finance and economics department of Rostec;
•     Dmitry Lelikov, CEO of Oboronprom;
•     Vladimir Litvin, head of the Department of Corporate Procedures and Property at Rostec;
•     Vladislav Masalov, CEO of United Engine Corporation;
•     Alexander Mikheev, CEO of Russian Helicopters;
•     Sergei Skvortsov, Deputy CEO of Rostec;
•     Shiv Vikram Khemka, Vice Chairman of SUN Group.

The AGM also approved a final dividend for 2013 of RUB 974,643,976.68, representing 100% of net profit for the year or RUB 10.23 per ordinary share of the Company.

Avantazh Audit was appointed as the auditor for 2014 of Russian Helicopters’ financial statements to Russian Accounting Standards. The AGM voted to approve the winner of a competitive tender currently in progress as auditor of the Company’s consolidated financial statements to IFRS for 2014, 2015 and 2016.

Russian Helicopters, JSC is a subsidiary of UIC Oboronprom, which in turn is a part of State Corporation Rostec. It is one of the global leaders in helicopter production and the only helicopter design and production powerhouse in Russia. Russian Helicopters 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. Over 8000 helicopters of Soviet/Russian make are operated in 110 countries worldwide. Traditionally the demand is highest in the Middle East, Africa, Asia-Pacific, Latin America, Russia, and CIS countries. Russian Helicopters was established in 2007. In 2013 its IFRS revenues increased 10% to RUB 138.3 billion. Deliveries reached 275 helicopters.

UIC Oboronprom, JSC is a multi-profile industrial and investment group established in 2002. It is a part of Russian Technologies State Corporation. Its main tasks include: helicopter engineering (Russian Helicopters, JSC) and engine-building (United Engine Industry Corporation managing company).

The State Corporation “Rostekhnologii” (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 663 organizations, nine of which have now been formed as holding companies of the military-industrial complex and five of them are involved in civil industries. Rostec’s organizations 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, with net profit of RUB 40 billion. The tax deductions into the treasuries at all levels exceeded RUB 138 billion.