Russia’s Rostec 2015 Revenues Grow by 18% to $17.1Bln - CEO

© Sputnik / Michael Klimentyev / Go to the mediabankFrom left: Russian President Vladimir Putin meets with Rostec Corporation CEO Sergei Chemezov in the Moscow Kremlin
From left: Russian President Vladimir Putin meets with Rostec Corporation CEO Sergei Chemezov in the Moscow Kremlin - Sputnik International
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The Russian Rostec State Corporation’s consolidated revenues have grown by 18 percent in 2015 to reach 1.140 trillion rubles ($17.1 billion), Rostec CEO Sergey Chemezov said Tuesday.

MOSCOW (Sputnik) – According to the chief executive, Rostec's total workforce has also grown to 445,000 people, whose average salaries have increased last year as well.,

“Despite the difficult economic situation and the macroeconomic environment and the sanctions our businesses have come under, our facilities worked well. Revenues grew by 18 percent and now amount to 1.140 trillion rubles,” Chemezov said at a meeting with President Vladimir Putin.

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Chemezov noted 9 percent growth of the corporation's earnings before interest, taxes, depreciation and amortization (EBITDA), and nearly 6 percent growth of its net margin.

"I would like to emphasize that the growth of efficiency indicators did not occur to the detriment of investment performance, our key social indicators. Total investments in 2015 amounted to 129 billion rubles [$1.9 billion], an increase of 21 percent. I would like to stress that we received only 27 billion [$405 million] from the budget, the rest is our own funds," he said.

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