ITECO Corporation (Iteko Russia)

ITECO Corporation (Iteko Russia LLC) is a player in the Russian freight market. As of June 2021, the company has 79 offices throughout Russia and its own fleet.

Performance indicators

2024: Revenue growth by 36% to RUB 59.5 billion

As TAdviser found out in early December 2025, the Iteco transport company (Iteko Russia LLC) received 59.52 billion rubles in revenue in 2024. This is 36.1% more than in the previous year, when the figure was 43.72 billion rubles.

The cost of sales on an annualized basis jumped by 41.6% - from 36.49 billion rubles to 51.67 billion rubles. Commercial expenses are not reflected in the accounting documentation, while management expenses increased by 29.4%, reaching 4.99 billion rubles against 3.86 billion rubles in 2023. Other revenues soared by 168.1% - from 958.65 million rubles to 2.57 billion rubles. At the same time, other expenses rose from 512.14 million rubles to 1.2 billion rubles, that is, by 134.4%.

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Фото: Freepik

Sales of products, goods, works and services in 2024 brought 58.75 billion rubles: this is 36.4% more than a year earlier (43.08 billion rubles). Other revenues for the year increased by 116.3% - from 446.77 million rubles to 966.54 million rubles. Payments to suppliers (contractors) for raw materials, materials, works and services increased by a quarter, amounting to 33.62 billion rubles against 26.82 billion rubles in 2023. Expenses in connection with the remuneration of employees are indicated in the amount of 18.47 billion rubles, which is 82% more than a year earlier (10.15 billion rubles).

In 2024, Iteco's gross profit amounted to 7.85 billion rubles against 7.23 billion rubles a year earlier, which corresponds to an increase of 8.6%. At the same time, profit from sales decreased by 15.2% - from 3.37 billion rubles to 2.86 billion rubles. The company recorded a net profit of 182.91 million rubles against 2.06 billion rubles in 2023 - a drop of 91.1%.

As of December 31, 2024, receivables amounted to 11.29 billion rubles: this is 71.5% more than a year earlier (6.58 billion rubles). Accounts payable rose by 67.1% - from 9.2 billion rubles to 15.37 billion rubles.^[1]

Notes