Astra Group revenue almost doubles to 8.6 bln rubles in 9M

MOSCOW. Nov 19 (Interfax) - PJSC Astra Group , the parent of a group of Russian companies that develop infrastructure software, including the Astra Linux operating system, increased its revenue by 84% to 8.6 billion rubles in the first nine months of 2024 from 4.7 billion rubles in the same period last year.

Shipments (management indicator based on revenue to Russian Accounting Standards, not including bonuses for achieving certain sales targets and before VAT) jumped 98% year-on-year to 10.1 billion rubles from 5.1 billion rubles a year earlier, the company reported.

The company's EBITDA grew by 64% to 2 billion rubles from 1.2 billion rubles a year earlier and adjusted EBITDA (for expenses on stock options incentive program for employees) rose 97% to 2.4 billion rubles from 1.2 billion rubles.

Astra's net profit grew by 51% to 2 billion rubles in the nine months from 1.3 billion rubles a year earlier and adjusted net profit rose 68% to 2.4 billion rubles from 1.4 billion rubles.

"In the the first nine months of 2024 we managed to show high rates of growth and a strong profitability level taking into account the seasonality that is typical for our business," Astra Group CFO Yelena Borodkina said in the press release. She attributed the revenue growth in the nine months in large part to explosive growth of sales of both ecosystem products and support services.

The company said revenue from sales of ecosystem products, which without the Astra Linux OS include about 20 products and services, more than quadrupled to 2.3 billion rubles in the nine months from 500 million rubles a year earlier, and their share of total group revenue increased by almost 150% year-on-year to 27%.

Revenue from product support services more than doubled to 1.8 billion rubles from 800 million rubles a year earlier.

Astra Group said about 50% of its revenue might be generated in the fourth quarter, particularly December, due to the seasonal nature of the business, including sales of licenses and provision of technical support and consulting services.

The company also reported that its capital expenditures on software development more than doubled to 2 billion rubles in the nine months from 800 million rubles a year earlier. The company's workforce grew by 50% to 2,600, about 70% of which are IT professionals.