Forbes: Lukoil, Magnit, X5 Retail Group Russia’s top private cos

MOSCOW, Sep 28 (PRIME) -- Oil major Lukoil and retailers Magnit and X5 Retail Group are top three largest private companies in Russia by annual revenue, according to a list compiled by Forbes and published on Thursday.

Lukoil’s 2016 revenue amounted to 4.7 trillion rubles, revenue of Magnit reached 1.074 trillion rubles, and revenue of X5 Retail group stood at 1.034 trillion rubles in the year.

Oil company Surgutneftegas was ranked fourth with revenue of 1.006 trillion rubles, and other companies in the top-10 were VEON, the sole owner of Russian mobile operator VimpelCom, oil company Tatneft, metals giant Norilsk Nickel, independent gas producer Novatek, and aluminum giant UC RUSAL.

“The stabilization of the Russian economy was reflected in the rating, as 40 companies in the list showed negative revenue dynamics in 2016, down from 50 companies in the previous year. The combined revenue of all (top-200 Russian) companies rose 4.9% to 32.2 trillion rubles,” Forbes said.

“Among the sectors, the winner of 2016 was the machine industry where revenue of companies grew 22.3% on average. Rostselmash, which accounts for 65% of the country’s market of agricultural equipment, was the leader in revenue growth with (revenue rising) 42%. Trade companies account for more than a quarter of the rating, and their revenue grew 17.8% on average, while in the previous year the factor was only at 8.7%,” the statement read.

(58.0102 rubles – U.S. $1)

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