Profits at Russian structures LG, Bosch, Samsung almost halved during the year, with some companies posting a net loss for the first time, Kommersant found.

The profits of the Russian structures LG, Bosch, Samsung almost halved during the year.

All of the mentioned brands have formally ceased their operations in Russia or have suspended production to one degree or another, hence the negative financial indicators:
  • In 2022, Samsung Electronics Rus Kaluga LLC’s revenue amounted to 27.4 billion rubles, with a net loss of 6.9 billion rubles. A year earlier, its revenue was 69.5 billion rubles , with a net profit of 4.6 billion rubles.
  • The revenue of LG Electronics Rus LLC fell from 119.7 billion rubles in 2021 to 55.4 billion rubles in 2022, net profit – from 7.1 billion to 376 million rubles.
  • BSH Bytovye Prytovye pribors LLC reduced its profit from 49.7 billion to 19.5 billion rubles, but the company’s net loss decreased from 2.7 billion to 1.2 billion rubles.

In Russia, in March 2023, there was a surplus of household appliances. In 2022, due to sanctions and fears of supply cuts in the country, the demand for this type of goods increased considerably. As a result, large batches of equipment are stored in warehouses.

In 2022, the home appliance market in Russia contracted by 30% in domestic terms. The forecasts for the current year are associated with a new fall.


karina pardaeva

Source: RB

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