VSMPO-AVISMA announces results of audited consolidated IFRS Financial Statements for 2009

Consolidated financial results of VSMPO-AVISMA Corporation for the year of 2009 are as follows:
- sales revenue: USD 977.84 mln.;
- operational profit: USD 164.78 mln.;
- EBITDA was equal to USD 176.096 mln. (adjusted for noncash charge and without exchange rate differences, EBITDA was equal to USD 261.40 mln.).

According to A.B.Mindlin, Deputy CEO, Economics and Finance, consolidated results are representative of Corporation’s activity within Russia and abroad. Decrease in financial performance in 2009 has directly resulted from the global financial and economic crisis. In 2010 the financials will be higher, but they will also be affected by the crisis. It is necessary to point out that there was some movement in the titanium market at the end of 2010, and in 2011 VSMPO-AVISMA Corporation plans to increase the production volumes by 20%. In order to maintain the competitive advantages and to satisfy the requirements of the growing market, VSMPO-AVISMA Corporation continues investing significant funds in production development.

Auditing firm KPMG completed the audit of the consolidated financial statements of PSC VSMPO-AVISMA Corporation for the year of 2009; the consolidated financial statements was developed in accordance with IFRS. According to the auditor, those statements fully reflect the financial status of the Corporation as of December 31, 2009, and 2008, as well as the results of its activity and cash flow during the specified periods.