Russian Helicopters in a dead end

Rostelec's Russian Helicopters is unsuccessfully looking for approaches to the civilian market. Meanwhile, in Rostec itself thefts are widespread and the budgets are cut.
In the framework of the Le Bourget air show, the Helicopters of Russia told about its plans until 2025. The company intends to increase the share of its sales in the civil products sector to 50%. However, skeptics whisper that those who want to buy from the "Russian Helicopters" may be much less than the management of the holding expects.
The holding belongs to the state corporation Rostek through Oboronstroy. In addition, in February this year, Rostek concluded an agreement with a consortium of RFPI and Arab investors on the sale of a 12% stake in BP.

Plans to increase the presence of the civilian segment of the head of "Russian Helicopters" Andrei Boginsky explained the unstable situation in the "military" market. Allegedly this is due to the fact that many countries have completed the process of rearmament, and significant positions in the market of the BP are occupied precisely by the military segment. Now, the holding wants its products not only to be bought by a "citizen", but also trusted after-sales service of helicopters. Only will they be trusted?

For example, a week earlier, the Pentagon announced that it was refusing to purchase Russian helicopters for Afghanistan's Armed Forces and would replace them with American-made equipment. The US military department said that the decision was caused by "increased costs, the complexity of servicing the Mi-17 helicopter fleet." Those familiar with the situation say that the refusal of Americans from Russian helicopters seems to be caused precisely by the inability of Russian Helicopters to provide the "after-sales service" at the proper level.

And here already on "US machinations" the failure of the Russian holding company does not fall, because the Americans themselves admit that Russian technology was good, and it will be difficult to abandon it. Is there really such a mess in "Helicopters of Russia" that it is expensive to pay for it - the loss of a large customer? His statement was made by the Pentagon on the eve of the salon of Le Bourget. It seems that the "Russian Helicopters" themselves on the eve of the presentation of plans at one of the largest sites to find new customers - Le Bourget - staged a grand anti-advertising.

The degree of effectiveness of the leadership of "Russian Helicopters" can be assessed based on the financial performance of the company. Even before 2015, the holding company in the world market of helicopter building took the fourth place with a share of 14%. In 2016, the share fell to 10%. So, it is probably not worthwhile to "bring down" their failures to the overall stagnation of the market, since the positions of "Russian Helicopters" are falling precisely in percentage.

However, the financial performance of the company is also falling. So, last year, BP's revenue under international reporting standards fell by 2.5% - to 214 billion rubles, profit in general collapsed almost three times - to 16.2 billion rubles. In turn, the EBITDA margin was 19%. A year earlier the indicator reached 29.8%. According to media reports, the end of last year was marked for the holding by a reduction in the order portfolio by almost 20%.

Investors in the queue are not worth it?

"Russian Helicopters" is the only developer and manufacturer of helicopters in the country. That is, the holding can be called strategic without exaggeration. And in general, top management claims that the asset for investors is very attractive. "The shareholder is negotiating on its own, some negotiations are underway, they can not but go, because Russian Helicopters, as an asset, are very attractive," Boginsky said earlier.

Recall that earlier the head of the Ministry of Industry and Trade Denis Manturov said that foreign investors could be sold a quarter of the holding. 12% in February already received a consortium of RFPI and Middle Eastern companies. But at the last year's St. Petersburg economic forum, the head of Rostek, Sergei Chemezov, said that the consortium had entered into an agreement to buy 25% of BP. So why, in the end, did investors risk buying a twice smaller package?

The fact that some investors, it seems, "lost on the road," Chemezov himself said, saying that "at first we had one number of investors, then it decreased." The head of Rostek then could not name the terms of the second stage of the deal.

And what is Chemezov himself doing?

In theory, since the main owner of the "Russian Helicopters" is the state corporation "Rostekh", then the demand for the effectiveness of the holding's work should ultimately fall on the leadership of the Civil Code. However, in informed circles, it has long been rumored that Mr. Chemezov, the permanent head of Rostek, turned the corporation into a huge, unwieldy structure.

Sergei Viktorovich himself, according to rumors, things are not going better. At the end of 2016, the top manager declared 212.1 million rubles in income. His wife Ekaterina Ignatova - neither more nor less than 848.5 million rubles. A good family income - more than a billion rubles per year! Here it is worth adding luxury apartments, houses, land and a park of expensive cars.

Sergei Chemezov, the dearest wife, began to grow rich about seven years ago. At one time, Ms. Ignatova owned 70% of the company "Katya". This office previously concluded with AvtoVAZ, whose co-owner is Rostekh, a contract for 300 million rubles to supply an automatic gearbox. It is rumored that Mr. Chemezov is busy with the fact that he regularly pours billions of rubles into Novikombank, which the ranchers almost call the "family bank" of the head of Rostekha. Last year, the Deposit Insurance Agency issued a loan to the bank for 7.3 billion rubles. In the spring of the same year, money "poured" into the bank with an uninterrupted flow: Rostek actually gave Novikombank 8 billion rubles, and in addition to Moscow real estate for 3 billion rubles. In early autumn of 2016, the financial institution carried out an additional issue of 12.8 billion rubles.

However, for nine months of last year, Novikombank still managed to get a record loss of 21.7 billion rubles! This gave rise to rumors among the participants of the banking sector that "unidentified persons" from the leadership of the state corporation allegedly could withdraw money from the bank ... It became known on the eve that Novikombank could lose almost half a billion rubles. The competition manager of AvtoVAZAGregat Yuliya Zharkova, in the framework of the company's bankruptcy procedure, challenges the transfer of 487 million rubles, which AvtoVAZAGregat transferred to Novikombank in the summer of 2015.

Arguments Mrs. Zharkova leads at first glance serious - the money was listed on the eve of a full stop of the enterprise. Experts assess the chances of the manager as high. And the gossips whisper that the transfer of money is very much like the attempt of the owners of AvtoVAZagregat to save some of its funds. Often in such cases, the savior is paid a "commission", and not small.

Evil tongues are rumored, the content of Sergei Chemezov and the welfare of his family are very costly to Russia. Maybe it's worth to find a new manager who would have let the law enforcers dig in the documents of Rostekh? Perhaps in this case competent authorities would have questions to the previous head of the state corporation.