In January-June 2007, Power Machines posted a net loss of 590.85 million rubles ($25 million).
"The financial results are evidence of the increased efficiency of the company's business and the effectiveness of measures aimed at improving the company's financial position," Power Machines said in a statement, adding that the growth was "also due to the implementation of large projects in the first half of 2008 for the delivery of power equipment."
Revenues grew 30.5%, year-on-year, in January-June 2008 to 11.41 billion rubles ($489 million), and earnings before interest, tax, depreciation and amortization (EBITDA) totaled 468.48 million rubles ($20 million) against a loss of 14.1 million rubles ($650,000) in January-June 2007.
Power Machines is Russia's largest producer and supplier of equipment for hydroelectric, thermal, gas and nuclear power plants, and electricity transmission and distribution.
