3 Jul 2018 17:01

Rosatom increases revenue 7% in H1, foreign revenues up 9%

GORKI. July 3 (Interfax) - State nuclear corporation Rosatom boosted revenue in January-June 2018 compared to the same period last year.

"We are seeing preliminary results of the financials for this half year: plus 7% to revenue, plus 9% to foreign revenue and we are expecting 8% for gross profit," the Rosatom chief Alexei Likhachev said in a meeting with Russian Prime Minister Dmitry Medvedev, without giving exact figures.

Rosatom's civil assets are consolidated in JSC Atomenergoprom. The company has yet to give accounting for 2017 to International Financial Reporting Standards (IFRS), however for H1 2017 Atomenergoprom posted revenue of 319.3 billion rubles and gross profit of 106.7 billion rubles.

The state nuclear corporation previously said the consolidated revenue of Rosatom enterprises and organizations to IFRS rose 10% in 2017, also without giving exact figures. The increase was driven by revenues from electricity sales on the domestic market, the rise in foreign sales of front-end nuclear cycle products and nuclear power plant construction abroad. New products (non-nuclear engineering, ship building, security systems and so on) posted a 16% growth in revenue.

Rosatom also declined to give precise figures at that time, telling Interfax that contrasting them to 2016 results is not strictly correct as the contours of comparison have changed, saying that revenue will be "at least 950 billion rubles."