State-owned companies’ profits more than halve by 2022

We are talking about the balanced financial result (profit minus loss) of joint stock companies owned by the federal government (more than 25% of the shares belong to the Federation). These include Sberbank, Gazprom, Russian Railways, Rosseti, VTB, Aeroflot and others.

As of the end of 2022, according to Rosstat, there were 507 federally owned stock companies. This is 139 less than a year earlier. About a third of them ended the year with a profit.

At the same time, according to Rosstat, large and medium-sized organizations, including state-owned companies, but without state institutions, lost up to 12.6% of their profits in 2022 due to the impact of sanctions. Thus, at the end of the year it amounted to 25.93 trillion rubles.

According to Alexander Abramov, head of the research laboratory for the analysis of financial market institutions at IPEI RANEPA, the dynamics of the public sector’s participation in the economy in 2022 can be traced after the publication of company reports.

State-owned companies dominate in industries such as railways, the fuel and power complex and the banking sector, the expert explains. These are spheres with a cyclical nature: as the price of oil increases, so does the share of state ownership in GDP. If the sectors with less State presence receive growth, their participation will also decrease.