RBC: the profit of state-owned companies decreased more than that of private ones

RBC: the profit of state-owned companies decreased more than that of private ones

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The profit of companies with state participation in 2022 decreased by 54%. This follows from the Rosstat data, which analyzed RBC. In March, the statistical service reported that the profit of private Russian companies in 2022 decreased by 12.6% and amounted to 25.93 trillion rubles.

In 2022, the profit of state-owned companies decreased to 2.136 trillion rubles. This is the balanced financial result of joint-stock companies. We are talking about companies in which more than 25% of the shares are in federal ownership or the state has a “golden share” (a special right to participate in management). These include “Gazprom“, ALROSA, VTBRosseti” and others.

Rosstat data show that the number of federally owned joint-stock companies also decreased over the year. At the end of 2022, there were 507 of them, while a year earlier there were 646. In 2022, two-thirds of them ended the year with a net profit.

Companies with state participation from wholesale and retail trade, repair of motor vehicles and motorcycles showed the highest profit. The publication notes that their profit at the end of 2022 decreased by more than three times – up to 1 trillion rubles. Companies that conduct real estate transactions, as well as those that are engaged in scientific and professional activities, storage and transportation, were able to increase profits as a percentage.

Referring to the assessment of experts from the Institute for Applied Economic Research (IPEI) of the RANEPA, the publication writes that by the end of 2021, the share of the public sector in the Russian economy has reached a maximum over the past 20 years. According to them, it is 52.6% of GDP. There are no more recent ratings yet. It will be possible to analyze the share of the public sector in the economy in 2022 after the summer reporting of companies. According to the publication’s experts, the share of the public sector, which is dominated by the fuel and energy complex, railways, banks, will decrease if alternative sectors grow, where the state is less present.

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