KRET to double its income

March 19, 2014, Rostec
 

KRET has embraced a program of action for 2014-2016. The concern plans to increase sales proceeds up to 146 billion in two years and to move on from the production of separate components to the supply of integrated electronic complexes for  military and civil purposes.

The 2020 development strategy was embraced by the KRET last year. The concern has set an ambitious goal – to become the leader in the Russian and CIS market of airborne electronic avionics.

“The three-year action program is a sort of a «road map», which makes more specific the tasks and describes the actions of all divisions and services of the concern. Its realization is to allow us to increase the sale proceeds in 2016 by almost two times compared to 2013 and ensure the growth of KRET’s profitability from 6.3 to 11.7 billion rubles during the same time period”, said Nikolay Kolesov, CEO of the KRET.

One of the key KRET’s development areas is to become a transfer from supplying of separate components and systems to sales of the integrated airborne avionics complexes (AA). According to the concern’s plans a share of the complex decisions up to 2016 must exceed 30% of all AA supplies.

KRET plans to continue its cooperations with the leading Russian civil and military aerotechnics manufacturers - United Aircraft and Russian Helicopters. In August 2013, at the International Aviation and Space Show in Zhukovski, the concern has signed new agreements for partnerships with these companies. According to these agreements, KRET has taken responsibility for the whole life cycle of the available United Aircraft equipment, starting from the development of the visual and up to the post-sales service of the end products. Furthermore, KRET is conducting a development of new AA prototypes for the perspective helicopters in terms of agreement with Russian Helicopters.

As a result of the program’s implementation, the sale proceeds of KRET are to grow from 99.7 to 146 billion rubles with a net income of 11.7 billion rubles for the same period.

The  Radioelectronic Technologies group (KRET), a largest Russian holding of the radioelectronic sector, was founded in 2009. It specializes in production of the radioelectronic warfare and complexes, struggle, aircraft equipment for the air vessels, and metering instruments. The group’s enterprises produce also household and medical equipment, control systems and equipment for the FEC, transportation, and machine industry. KRET is a division of the Rostec  state corporations.

Source: Press Release