Rostec Announces Revised 2023 Financial Data
Russia's Military-Industrial Giant Updates Earnings
Rostec, Russia's state-owned military-industrial corporation, has released revised financial data for the year 2023. The company reported revenue of RUB 2.4 trillion ($32 billion), an increase of 20% compared to the previous year. Net income for the period was RUB 310 billion ($4.1 billion), up 35%.
The growth was primarily driven by increased demand for the company's products and services, both domestically and internationally.
Rostec's diversified portfolio of businesses includes a wide range of products and services, including military hardware, civilian aircraft, and electronic systems. The company has been actively expanding its international presence in recent years, with operations in over 70 countries.
As of 2023, Rostec employed over 660,000 people, making it one of the largest employers in Russia.
Key Financial Highlights
- Revenue: RUB 2.4 trillion ($32 billion)
- Net income: RUB 310 billion ($4.1 billion)
- Employees: Over 660,000
- International operations: Over 70 countries
Outlook for 2024
Rostec expects to continue its growth trajectory in 2024, with revenue projected to increase by 10%. The company plans to focus on expanding its international market share and developing new products and services.
According to Rostec CEO Sergey Chemezov, "Our strong financial performance in 2023 is a testament to our team's hard work and dedication. We will continue to invest in our business and our people to ensure that Rostec remains a global leader in the military-industrial sector."
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