Meeting with United Shipbuilding Corporation CEO Alexei Rakhmanov

Source: President of Russia – The Kremlin – English

President of Russia Vladimir Putin: Mr Rakhmanov, let us talk about the state of affairs in the corporation in general and about your plans.
CEO of the United Shipbuilding Corporation Alexei Rakhmanov: I have prepared a package of documents, Mr President. Essentially, these are performance results and charts that provide a good picture of the corporation’s geography.
Our operations have been stable for the past six years, including three years of steady profitability when it comes to company operations. Our net profit remains around one percent but this is due to the fact that the state defence order still accounts for 83 percent of our revenue.
Our employees’ wages are paid regularly and they tend to rise by around seven percent a year, taking into account the fact that output, labour productivity and, basically, people’s ability to make a decent living are growing proportionally.
I must also note that overall, we are paying around 8,000 to 9,000 rubles extra on the region’s average wages for specific categories because the wages at our facilities involved in engineering and design are higher than the average wages in production. At the same time, we are making great efforts to retain the workforce. The workforce is our greatest asset.
Of course, from this perspective, the measures we have been taking even during this difficult year help us to have confidence that our programmes will be carried out consistently.
Vladimir Putin: Wages in your company are growing steadily.
Alexei Rakhmanov: By around seven percent a year. In 2017, 2018 and 2019 wages grew at a rate of around 70 to 80 percent of the inflation rate but right now we are also taking increasing labour productivity into consideration, which results in figures just over the inflation rate but still within the limits of 7.5 to 7.8 percent. Of course, this is an important factor helping us to retain staff.
To be continued.