In HI’2016, net profit of Yantar Shipyard (Kaliningrad Region, United Shipbuilding Corporation) calculated under Russian Accounting Standards totaled RUB 281 mln against a loss a year ago, the company says.
The shipyard’s revenue totaled RUB 6.4 bln. The company’s net assets are RUB 3.6 bln as of June 30, 2016.
Since the beginning of 2016 the shipyard has delivered to the Russian Navy two frigates of project 11356 – Admiral Grigorovich and Admiral Essen. The third frigate of the series, Admiral Makarov, is under the sea trials in the Baltic Sea. The ship is to be delivered in autumn. By the end of the year the customer is going to take the delivery of large landing ship Ivan Gren, which is also undergoing sea trials. Besides, Yantar Shipyard is building 9 more ships under the contracts covering the period of up to 2019.
Kaliningrad-based Baltic Shipbuilding Plant “Yantar” (Yantar Shipyard) was founded on July 8, 1945 on the basis of a Koenigsberg unit of German’s Schichau Werft. Yantar Shipyard specializes in building and repair of warships and civil boats. Throughout the years the Shipyard has built 160 warships and more than 500 merchant vessels. The Russian Government holds majority stake in the shipbuilding firm through Western Center of Shipbuilding, a subsidiary of state-owned United Shipbuilding Corporation.