Metrostroy of the Northern Capital

Performance indicators

2024: Revenue growth doubles to $ ₽29 billion

The revenue of the company "Metrostroy of the Northern Capital" (MSSS), which is engaged in the construction of metro facilities in St. Petersburg, reached a record level and amounted to ₽29,2 billion in 2024. This figure was more than twice the result of 2023. At the same time, the net profit of the enterprise decreased 2.6 times and amounted to ₽90,5 million. The data is contained in the financial statements published on April 9, 2025.

According to Vedomosti, the balance of the cash flows of the MSSS for the reporting period turned out to be negative and amounted to ₽11,4 billion. The company's payments during the year reached ₽31,3 billion, and receipts - ₽19,9 billion. In 2023, ISAF ended the fiscal year with a cash flow surplus of ₽5,7 billion.

𝓲

Фото: Freepik

The cost of sales for 2024 amounted to ₽28,7 billion, while for the same period in 2023 this figure was equal to ₽11,4 billion. Such a significant increase in cost could be one of the reasons for the decline in the company's net profit.

The company's accounts payable in 2024 decreased by 8% and amounted to ₽27,2 billion (in 2023 - ₽29,5 billion). At the same time, the debt of external counterparties to the MSSS for the year increased by 24% - from ₽6,6 billion to ₽8,2 billion.

According to the financial statements, at the beginning of 2025, the company has no borrowed funds. Also in 2024, the MSSS did not receive funds from the budget.

The company "Metrostroy of the Northern Capital" now employs 4600 people, and the number of main debtors and creditors exceeds 500. MSSS is under the leadership of Dmitry Vasiliev.

For 2025, the company predicts further revenue growth - up to ₽36,1 billion excluding VAT. This will exceed the 2024 figure by 23.6%.

Metrostroy of the Northern Capital is looking for an audit organization that will prepare financial statements for 2025. The company plans to allocate ₽9,7 million for these purposes. The search for the auditor will last until April 18, 2025.^[1][2]

History

2024: Purchase of a reinforced concrete factory in St. Petersburg for 1.13 billion rubles

Metrostroy of the Northern Capital (MSSS) bought a plant of reinforced concrete products in the Primorsky district of St. Petersburg for ₽1,13 billion. The deal took place on August 27, 2024 at a auction organized by the Russian Auction House (RAD). The plant previously belonged to the bankrupt Metrostroy OJSC and was sold almost half the price of the originally set price.

According to Vedomosti, the property complex acquired by the MSSS includes a land plot of 5.6 hectares, six buildings, including a production building and a finished product warehouse with a total area of ​ ​ 5800 square meters. m. The facility also includes a number of technical structures and access roads from the Shuvalovo railway station.

𝓲

Фото: Freepik

Bidding, at which the plant was sold, took place for the second time. Initially, the object was estimated at ₽2,7 billion, but due to the lack of applications, the starting price decreased several times. It is noted that the object was sold by ₽786,3 million more than the minimum set price, which indicates high interest from potential buyers.

Metrostroy of the Northern Capital, which is the new general contractor for the construction of the metro in St. Petersburg, has already used the acquired site since 2023. Now the plant, located on Novo-Nikitinskaya Street, will become part of the company's production base, which will strengthen its position in the construction and production of building materials in the region.

Olga Zheludkova, Deputy General Director of the RAD, noted that the sale of the reinforced concrete products plant is the fifth successful transaction carried out as part of the bankruptcy procedure. She stressed that assets are sold with good financial results, despite the difficult market conditions.

The acquisition will allow the company to continue large-scale projects for the construction and modernization of the transport infrastructure of St. Petersburg, as well as increase the level of localization of the production of materials necessary for this purpose.^[3]

Notes