Rostec's Net Profit Exceeded $2 billion in 2018

/ -- The revenue of Rostec State Corporation in 2018 reached $26 billion (RUB 1,642 trillion), with almost two-thirds of it accounting for sales of civilian products and export of high-tech solutions. The company's consolidated net profit exceeded $2 billion (RUB 128 billion). This was reported by Rostec CEO Sergey Chemezov during a meeting with Russian President Vladimir Putin on July 22.

Presenting the Corporation's annual report, Mr. Chemezov said that in 2018 Rostec fulfilled the State Defense Procurement Order by 99.6% and is ahead of time in fulfilling the state-set objective to diversify its production: the share of civilian products in the total revenue increased by 1.5 percentage points and reached 30%.

"The past year also set a record in the export of Russian weapons. The total volume of supply by Rosoboronexport amounted to $13.7 billion. The stable portfolio of foreign orders for Russian military machinery has reached $55 billion," Rostec CEO Sergey Chemezovnoted. "Rostec's key financial indicators are growing as well. We managed to increase our net profit by almost 6% compared to last year. Our net profit margin in 2018 amounted to 7.8%."