Turboatom's 2005 Results: Top Line Up, Profitability Decreases.

The company’s net revenues grew by 8.4% to USD 58.7 mln, while net income decreased by 14% to USD 3.9 mln. 35% of the net income will be directed for dividends (USD 0.003 per share, dividend yield 0.8%). Dividends will be paid from September 1 to December 31 2006. The rest will go for CapEx and development of the company’s social sphere. Roughly 79% of the company’s output was exported last year. Based on 2006 portfolio of orders Turboatom (TATM) plans to increase production by 10% with hydraulic turbines accounting for the largest share in total production – 49% (orders for modernization of Ukraine’s hydro power stations). TATM is now designing 1-1.5 mln kWt turbines for use in Ukrainian and Russian atomic power stations.