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Private Companies Growing by 150-250% Per Year in Russia
September 17, 2019 17:16


(Source: https://www.arsenal-msk.ru)

The growth rate of the Russian economy in 2018 reached a record for six years, 2.3%, despite the tightening of international sanctions and pressure on financial markets. The economy was supported by high oil prices, increased exports, the implementation of several major energy projects and the 2018 World Cup, according to a World Bank report. The total ruble revenue of 200 private companies over the year increased by 22.2%, to 43.7 trillion rubles, according to Forbes.

Of the 200 participants in the rating, only 19 showed a negative result compared to last year. The first place, as always, is occupied by Lukoil  - its revenue of 8 trillion rubles exceeds the revenue of Surgutneftegaz more than four times, which is on the second line, displacing X5 Retail Group. The top 5 also includes Magnit  (the 4th place) and Tatneft.

There are few non-state oil companies -   only 15 in the rating, but they account for 30% of the total revenue of all participants. Almost all of them showed great growth - the average change in revenue for the sector is 33%. The best result (plus 62%) was shown by Neftysa  (part of the Safmar group of Mikhail Gutseriev).

The largest growth, on average by 60.2%, as well as last year, was shown by coal companies - coal prices in 2018 continued to grow and over the year increased by an average of 10%. Most of all, by 143%, the revenue of Siberian Anthracite company increased, in particular due to the merger of a number of companies into a holding.

The second place with an average growth of 40.8%  is taken by constructors. 2018 was a record year for apartment sales, companies were preparing for changes (to switch to using escrow accounts instead of equity agreements) and tried to sell as much as possible. The growth leader was Ingrad owned by Roman Avdeev. Its revenue increased by 251%, to 53 billion rubles. As a result of the merger with OPIN in 2017, Ingrad received a lot of land, launched new projects and in 2018 began active sales.

In other sectors, the picture is as follows: forestry - average revenue growth of 36.8%, IT - 24%, engineering - 22.2%, transport and chemical industry - 21.5% each, trade - 19.8%, petrochemicals - 16, 8%, metallurgy - 16%, finance - 15.9%, agriculture - 15.3%, pharmaceuticals - 14.8%, electricity - 5.8%, telecommunications - 5.3% and tourism - 3.7%.

 



Author: Anna Dorozhkina

Tags: Russian business Russian companies Russian economy Russian oligarchs  

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