Iskra NGO

Performance indicators

2023: Losses of 684 million rubles

In the spring of 2024, the financial results of the Public Joint-Stock Company "Scientific and Production Association" Iskra "(NPO" Iskra ") for 2023 became known. The Perm enterprise, which produces components for the rocket and space industry, recorded a net loss of ₽684 million according to Russian accounting standards, which is four times less than in 2022, when the loss was ₽2,76 billion.

According to Interfax, the company's revenue in 2023 increased by 21.8% to ₽6,74 billion compared to 2022. Then it amounted to ₽5,53 billion. The cost of sales increased by 20.4% - from ₽5,12 billion in 2022 to ₽6,15 billion in 2023.

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Фото: Unsplash

The gross profit of the enterprise in 2023 reached ₽591,8 million, which is 39.3% more than in 2022 (₽424,9 million). The loss from sales decreased by one and a half times - from ₽631,7 million in 2022 to ₽426,9 million in 2023.

The pre-tax loss in 2023 decreased by 5.7 times and amounted to ₽492 million against ₽2,8 billion in 2022. Accounts payable increased from ₽8,4 billion (end of 2022) to ₽10,4 billion (end of 2023), and accounts receivable - from ₽4 billion (end of 2022) to ₽4,7 billion (end of 2023).

The state corporation Roscosmos owns 99.2% of the authorized capital of the enterprise (by October 2024). NPO Iskra specializes in the development and production of gas pumping units, gas turbine power plants, compressor equipment for oil and gas production enterprises, pumping equipment and rocket and space products.^[1]

History

2024: Joining Tactical Missile Weapons

Russia Vladimir Putin In mid-December 2024, the President signed a decree on the transfer of 1.24 billion ordinary shares of Perm JSC Iskra Scientific and Production Association, which are federally owned, to the authorized capital of the corporation. "Tactical Missile Armament" (KTRV)

According to Prime, the decision was made to increase the efficiency of the integrated structures of the military-industrial complex. NPO Iskra is a federal research and production center and one of the largest industrial enterprises in Russia.

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Фото: Freepik

In accordance with the decree, KTRV will not pay dividends between 2024 and 2028. The released part of the profit will be used to finance investment projects related to the technological re-equipment of production facilities.

The funds will also be used to form a scientific and technical reserve to fulfill the tasks of the state defense order, finance social expenses and compensate for the costs of stabilizing the financial and economic condition of NGO Iskra.

The Russian government has been instructed to ensure the exemption of the Tactical Missile Weapons Corporation from paying dividends for the specified period. This will allow us to concentrate financial resources on the development of the production base and the fulfillment of government orders.

KTRV is one of the key enterprises of the Russian military-industrial complex. The inclusion of the Iskra NGO in its composition will strengthen the corporation's potential in the development and production of rocket engines.

The merger of enterprises is aimed at optimizing production processes and increasing the efficiency of fulfilling the state defense order. Integration will strengthen the scientific and technical competencies of both organizations.^[2]

Notes