Mixed results for Russian companies

30 July 2015


Rosatom's nuclear holding company, Atomenergoprom, saw its profits fall 38% year-on-year in the first half of 2015 to RUB15.2bn ($267m). However, revenue increased fourfold to RUB414.5m compared with RUB100.9m the preceding year, the company's interim report says.

Atomenergoprom consolidates and manages the civil assets of Russian nuclear industry and is not a producer of goods and services. The profits, therefore also include its interest in other companies. In 2014 Atomenergoprom's net profit was RUB42.499bn, including income from other organisations of RUB32.610bn.

The consolidated proceeds for 2014 of Rosatom's engineering holding company, Atomenergomash, increased by RUB2.5bn compared with 2013 to RUB48.6bn. The portfolio of orders grew by RUB71bn to RUB227.7bn, according to the company's integrated annual report. Gross profit grew 15% to RUB7.8bn. However, the company reported a net loss of RUB6.6bn, double the figure for 2013. "The company's losses in 2014 were primarily due to currency exchange rates; particularly, as a result of Energomashspetsstal's operations," the report says.

In 2015, Atomenergomash's strategic priorities remain to "increase production efficiency, increase revenue in all business areas, and participate actively in import replacement programmes." The revenue forecast for 2015 is RUB63.063bn. In the mid-term (the 2019 horizon), the company plans to more than double revenue, to reduce fixed expenses by 30%, and to reduce process cycle duration by 30%.



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