By the end of the previous year, the 50 largest non-financial publicly traded companies reported total revenue of 66 trillion rubles, a figure cited by TASS based on analyses from the ACRA rating agency.
Analysts note that the year 2022 posed a tough challenge for many parts of the Russian economy due to escalating geopolitical tensions. Yet the state managed to cushion the sanctions’ impact, and one clear signal of economic steadiness emerged: sustained revenue growth among the top 50 non-financial public companies. The 2022 report shows a 4% rise, bringing aggregate revenue to 66 trillion rubles.
The sectoral mix in the top 50 for 2022 included eight oil and gas firms and eleven metallurgical players. The list also features six retailers and electricity providers, alongside a few transportation firms and a sizable group categorized as other. This distribution highlights the sectoral breadth present within the nation’s leading publicly traded non-financial enterprises.
Historical momentum helps put the latest figures into perspective. By 2017, the income growth of the top 50 broadly tracked inflation. After that, growth began to outpace price increases. From 2019 onward, the growth rate frequently landed in the mid-40s percentage range. In 2021 the rate hovered around 48%, dipping to about 44% in the most recent period. Analysts from ACRA project that the growth rate could approach the 50% mark in 2023 through 2025, signaling a potential return to stronger expansion for these flagship companies.
Industry observers also report a broader sentiment among entrepreneurs. TenChat notes that nearly half of business owners reported higher revenues in the year 2022, a perspective echoed by RBC, which highlights the revenue gains across varied sectors and the resilience of market players under challenging conditions.