Russia’s defence and high technology holding company, Rostec declared 18% increase in consolidated revenues, amounting to 1 trillion and 140 billion rubles in 2015, despite the sanctions regime imposed against the firm.
"Against the sanctions pressure, the general decline of the Russian economy and fall of industrial production index by more than 3 %, we managed to increase the revenue of the State Corporation to 1 trillion 140 billion rubles, demonstrating a growth by 18 % compared to 2014", said CEO of Rostec,Sergey Chemezov during the meeting with the President of Russia Vladimir Putin. "The volume of military exports grew by 39 % in 2015 (up to $ 4.6 billion). Therefore, the production of civilian goods increased by 6 % (up to 336 billion rubles). The steady growth in all financial indicators enables us to develop also the civil industries. According to the new strategy of Rostec, our main task is to ensure Russia's technological advantage in the highly competitive global markets. The planned investment volume for the development up to 2025 is 3,086 billion rubles"
Rostec emphasized the development of internal resources and competencies, which, based on the results of 2015, allowed demonstrating a steady progress in terms of financial, economic and industrial parameters, according to the company press release.
The consolidated net income of the State Corporation was 99 billion rubles, and that of EBITDA – 253 billion rubles. The net profit margin was 8.68 %, having increased by 6 basis points. EBITDA margin was increased by 5.58 points (up to 22.19 %). The corporation average wage in 2015 increased up to 41,000 rubles (in 2014, Rostec average wage was 37,000 rubles, and Russia average wage was 32,600 rubles as per FSSS data). The corporation tax payments to budgets of all levels exceeded 160 billion rubles.
According to Minister of Industry and Trade of Russia Denis Manturov, despite the negative trends in the economy, following the results of 2015 Rostec Corporation demonstrated a progress in the performance and steady financial results. The Corporation has made the best use of the ruble devaluation impact, strengthening its position both in internal, and foreign markets.
"The Corporation's enterprises participated in the stable implementation of the state defense procurement, the volume of which has increased by 11 % in comparison with 2014," said Russia's industry and trade minister Denis Manturov.
Russias state corporation Rostec has denied reports that the contract has been signed for the delivery of the Triumph S-400 anti-aircraft missile systems to India. “A contract for delivering the Triumph S-400 anti-aircraft missile systems to India is not yet concluded,” Sergey Chemezov, director-general of the Rostec State Corporation told journalists on Wednesday, TASS reported
Russia is blocking the use of all its warehouses by the US Embassy following the US Senates approval of a new set of sanctions targeting Moscow's energy, defense, and intelligence sectors on Thursday. "The Russian side is suspending as of August 1 the use by the US embassy in Russia of all warehouses on the Dorozhnaya Street in Moscow and the dacha compound in Serebryanyy Bor," the Russian Foreign Ministry said in a statement Friday
Russian Rostecs subsidiary, Techmash is considering licensed production of ammunition in Indonesia. Techmash is currently considering the production of ammunition for heavy armored vehicles purchased in the Russian Federation, particularly of the 30 mm and 100 mm caliber artillery shells, Sergey Abramov, Industrial director of Rostec weapons cluster, commenting on the cluster strategy adopted in the beginning of April 2017 said
An estimated 400 Kamov 226-T helicopters are planned to be manufactured by an Indo-Russian Joint venture under the “Make in India” program. The documents for the joint venture formation between Russias Rostec companies on one side and HAL on the other side have been prepared and registration is awaited
Russias Shvabe, a part of Rostec Corp, has delivered LDM-2VK laser rangefinders to China for use in shooting practise. The LDM-2VK laser rangefinder, which defines target coordinates in the GLONASS and GPS satellite navigation systems, is produced at the holding company's Shvabe – Defense and Protection enterprise
Novikombank, the base bank for the Russian industry, has granted a 20 million euro worth loan to the Irkut Corp to finance the execution of an export contract for the delivery of new aviation equipment. This agreement has become the first step towards promising cooperation between the parties, Rostec announced during January last week
The board of directors of Russian conglomerate Rostec will consider the sale of a 26 percent stake minus one share in weapons maker Kalashnikov to two private investors, Andrei Bokarev and Alexei Krivoruchko. Rostec announced Friday that it has agreed to sell off a stake in Kalashnikov as part of an overhaul of the producer of the AK-47 assault rifle
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