2013

November 14, 2013 Armada's net profit increased by 6% in H1 2013
Finance
Moscow, November 14, 2013 - Today Armada OAO (MICEX-RTS: ARMD) has published preliminary interim financial statements for the first half of 2013 (from January 1 to June 30, 2013) consolidated under IFRS.
Key figures, RUB mln H1 2013* H1 2012* Change
Revenue 1,707 1,631 5%
Software development and implementation 670 434 54%
IT services 1,037 1,197 -13%
Net profit 131 124 6%
Net profit margin, % 7.7% 7.6%

* Based on the management accounting under IFRS, from January 1 to June 30 of each year.


Armada's revenue for 6 months of 2013 (H1 2013) increased by 5% as compared to the same period in 2012 and amounted to 1,707 mln RUB. The revenue growth was secured mainly by the contracts for software development and implementation. This segment grew by 54%.

Gross profit margin in the segment of software development and implementation and IT services amounted to 34% and 15% respectively (29% and 18% in H1 2012).

The net profit increased by 6%, the net profit margin exceeded the value for H1 2012.

Armada's revenue is largely influenced by seasonality. More than 70% of the revenue was received in the second half of the year in each of the last five years.

«In 2013, the company will continue to focus on the priority segments of the Russian IT market - software development and IT services for government bodies, banks, retail, healthcare, and other verticals. Due to focusing, the company will continue developing faster than the market», said Alexey Kuzovkin, Chairman of the Board of Directors of Armada