Ukraine's Ukroboronprom defense company increases sales revenue 72% to $2.207 bln in 2023

MOSCOW. Aug 8 (Interfax) - Ukroboronprom, a Ukrainian state-owned company incorporating key defense industry assets, increased its revenue by 72% to $2.207 billion in 2023, which enabled it to climb to the 49th from the 65th position on the Defense News Top 100 ranking, Ukrainian Minister for Strategic Defense Industries Alexander Kamyshin said.

"Ukroboronprom is growing the fastest, 72%, among the world's Top 100 largest defense companies. The first half of 2024 showed that we're maintaining the pace this year, as well," Ukrainian media quoted Kamyshin as saying on social media on Thursday.

Italy's Fincantieri S.p.A., which joined the Alliance of Defense Industries set up at the initiative of the Ukrainian Strategic Defense Industries Ministry, Defense Ministry, and Foreign Ministry in November 2023, ranked 48th. Its sales of defense industry products amounted to $2.228 billion last year, accounting for 27% in the company's aggregate revenue, while for Ukroboronprom, this indicator stands at 100%.

The Top 50 list is rounded out by Turkish Aerospace Industries with $2.206 billion, up 49% over the past year. Defense industry products accounted for 82% in its aggregate sales revenue.

As reported, the Ukroboronprom concern was reorganized into the Ukrainian Defense Industry joint-stock company in 2023.