Goscomvoyenprom Sums Up Results for First Quarter of 2018

On 3 May 2018, under the chairmanship of the head of Goscomvoyenprom, Oleg Dvigalev, a meeting of the collegium took place, which was attended by the heads of departments of the central administrative office, responsible executives of Goscomvoyenprom companies, their deputies on economy (chief economists) and chief engineers.
Before the meeting, Chairman of the State Military Industrial Committee Oleg Dvigalev on behalf of the Belarusian Minister of Defence presented the Jubilee Medal “100 Years of Armed Forces of the Republic of Belarus” to Alexander Voitenkov, director of KB Display JSC, Evgeny Babarykin, director of VOLATAVTO JSC and to the director of BSVT – New Technologies, Oleg Silvanovich. 

The head of Goscomvoyenprom thanked the awardees for their high professionalism and contribution to enhancement of the national defence capability, as well as expressed confidence that the defence enterprises would continue to successfully solve all the tasks set, and the results achieved due to the defence industry employees would guarantee military security for Belarus and its all citizens. 
The collegium’s efforts are focused on the implementation of business plans for the development of Goscomvoyenprom companies in the first quarter of 2018 and the dynamics of their development in the first half of the present year.
In his report, Deputy Chairman of Goscomvoyenprom Dmitry Pantus dwelled on the results of the implementation by the defence companies of key parameters of business development plans in the first quarter of this year, the existing problem areas and the projected trends and tasks of social and economic development in the first half of the year.
In general, summing up the results of Goscomvoyenprom companies’activities on implementing business plans in the first quarter of the present year, Dmitry Pantus pointed out positive results, with the exception of certain indicators in a number of organisations.
Thus, in January–March 2018, Goscomvoyenprom companies produced industrial products (in actual prices) worth 325.9 million rubles, or 131 % over the same period last year. The key performance indicator is exceeded by 10.7 %.
The sales margin of Goscomvoyenprom companies amounted to 25.7 % at the planned level of 9.3 % in the first quarter.
Summing up the work, the deputy head of Goscomvoyenprom noted the results of foreign trade activity of defence companies in the first quarter. A high rate of growth in exports was achieved, and a positive balance of foreign trade was ensured.
Exports of goods and services amounted to 146.9 % in comparison with the same period of the previous year. The volume of exports exceeded the planned indicator by 38.8 %.
The net profit of Goscomvoyenprom companies for January–March 2018 amounted to 79.7 million rubles, the growth rate for the same period last year – 124.4 %. The amount of net profit received is 4.2 times higher than the planned level.
Another important development indicator of the organisations is the ratio between the growth in labour productivity and salary.
Taking into account the requirements of the Head of State and the corresponding commission of the Government, where the target assignments for the bodies of state administration are defined (the task for Goscomvoeynprom is one of the highest in the country), questions were analysed regarding fulfillment of plans by organisations for salary growth in 2018.
As it was noted during the meeting, the plans for salary growth developed by the organisations are rather tight. However, they are based on real opportunities and linked with the growth of labour productivity. At the same time, the attention of managers was drawn to the need for compliance with both quarterly indicators and monthly impressions.
At the same time, a number of organisations still failed to fulfill the obligations they assumed in January–March 2018 to increase the salary level of employees.
“Taking into account the importance of fulfilling the state goal of ensuring salary growth, the compliance with the relevant schedules will be strictly controlled at Goscomvoyenrom,” Dmitry Pantus said.
Dmitry Pantus also announced the expected results of the organisations’ work on a number of key performance indicators in the first half of 2018. Thus, the positive dynamics of development of Goscomvoyenprom companies (growth in exports, increase in production, improving labour efficiency, raise in salary, as well as ensuring positive financial results) is expected. Heads of companies should step up work on unconditional implementation of planned activities of business plans and achievement of key development parameters.
In accordance with the agenda, reports of the heads of some enterprises were also heard concerning the implementation of business plans for the development of companies for the first quarter of 2017 and the commitments undertaken to increase the salary level (in accordance with approved schedules).