Elsib expects revenue to more than double to 5 bln rbl in 2020

MOSCOW, Jun 15 (PRIME) -- Russian power engineering company Elsib expects its revenue to more than double to 5 billion rubles in 2020 as compared with 2.4 billion rubles in 2017, CEO Dmitry Bezmelnitsyn told PRIME on Friday.

“Regarding the revenue, we remained at the level of 2016 at about 2.4 billion rubles. We expect the same level in 2018. This amount allows us to remain profitable and to conduct normal operating and investment activity. We forecast our revenue to grow to 3 billion rubles in 2019, and we plan to reach the level of 5 billion rubles in 2020,” he said.

The company expects new orders to boost the revenue, he said.

Elsib is one of Russia’s largest power engineering companies, and about 33% of central heating and power plants and 30% of hydropower plants in the country run on the company’s turbine generators.

(62.2511 rubles – U.S. $1)

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