Rostselmash expects revenue to remain flat at 40 bln rbl in 2019 - Engineering & Hi-Tech - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Rostselmash expects revenue to remain flat at 40 bln rbl in 2019

ROSTOV-ON-DON, Nov 29 (PRIME) -- Russian agricultural equipment producer Rostselmash expects its revenue to be almost flat on the year at 40 billion rubles in 2019, CEO Valery Maltsev told reporters on Friday.

УOur revenue this year will supposedly stay at the same level as in 2018. It comprises different types of products Ц harvesters, tractors, adapters, towed vehicles, and sprayers Ц and also different sales markets, including Russia and exports,Ф he said, adding that revenue should amount to about 40 billion rubles.

The Russian market of heavy agricultural equipment like harvesters and tractors is falling by about 10% on the year in 2019 due to several reasons. Some demand of 2019 shifted to the end of 2018 when discounts for farmers under the 1432 program were increased. This year the program is underfinanced, he said.

УThe entire sector of agricultural machine producers needs about 6.5 billion rubles of subsidies for equipment that has already been contracted. But only 3.5 billion rubles were allocated, while 3 billion rubles are still under question whether they will be compensated or not,Ф he said.

He also said that the company signed an agreement to launch an assembly facility in Azerbaijan, to be launched in 2020, on November 23. AzerbaijanТs market ranges from 150 agricultural machines to 300 machines in different years.

УThe country has its own forms of support of local producers, and we plan to launch the project for assembly of machines in 2020. We suppose that it would be about 40Ц50 machines in 2020, and we will see what comes next,Ф he said.

Currently, Rostselmash has three assembly facilities outside Russia, located in Kazakhstan and Uzbekistan.

(64.1005 rubles Ц U.S. $1)


29.11.2019 17:03
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 86.5011 -0.7242 05 aug
USD 73.3806 -0.7780 05 aug
Stock Market Indices
1D 1W 1M 1Y
rtsi 1260.16 +0.22 18:50 04 aug
micex 2940.46 +0.36 18:50 04 aug
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 183.60 +0.55 23:49 04 aug
lkoh 5037.00 -0.99 23:49 04 aug
rosn 356.45 -0.13 23:49 04 aug
sber 226.72 +2.32 23:49 04 aug
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 86.7700 +0.2700 14:59 04 aug
USDTD 73.5700 -0.5500 17:44 04 aug