Turboatom increases revenues 31.8% yoy in 9M09

Turboatom (TATM) increased its net revenues by 31.8% yoy to UAH 444.4 mln in 9M09, according to a company filing. The company also raised its net income 2.4x yoy to UAH 84.9 mln during the period. Yegor Samusenko: The company improved its UAH financials in 9M09 thanks to hryvnya depreciation. Specifically, as 90% of Turboatom’s sales are denominated in foreign currency, the company was able to decrease its UAH COGS as a percentage of UAH sales by 2 pp to 69% of sales.