Mostotrest, OJSC

During its history, Mostotrest has built over 6,000 bridges and overpasses of various systems and structures with a total length of 600 km, more than 1,500 pedestrian bridges and tunnels, several dozen complex transport interchanges, many residential buildings, social, cultural and household facilities.

The company consists of 14 branches. Mostotrest units are located in the central part of Russia.

Performance indicators

Revenue reduction by 20% to RUB 3.9 bln

Mostotrest's revenue in 2023 reached 3.9 billion rubles (in accordance with international financial reporting standards), which is 20% less than a year earlier. The company's net profit in comparison with these segments of time rose by 27.8% and amounted to 1.06 billion rubles. Such data are provided in a report that the group disclosed in early May 2024.

According to Interfax, citing materials from PJSC Mostotrest, in 2023 the company's cost of sales increased by 9.7% compared to a year ago - to 3.2 billion rubles. Gross profit decreased by 65.8%, amounting to 655 million rubles.

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By the end of 2023, the company's receivables under construction contracts were measured at 1.9 billion rubles, which is 1.8 times more than a year earlier. The group's total debt during this time almost tripled and reached 14 billion rubles. This includes short-term liabilities of 5 billion rubles (compared to 2022, they increased by 15.1%) and long-term liabilities of 9 billion rubles (in 2022 they amounted to 276 million rubles).

By the end of 2023, the cash in the special accounts of PJSC Mostotrest amounted to 9 billion rubles. Most of them are formed by funds allocated for construction under state contracts.

It also follows from the company's statements that in 2023 its non-current financial assets almost doubled - from 239.4 million to 460.7 million rubles. It is clarified that the income was formed by the group's shares of Sberbank in the amount of 1.7 million units, which were revalued at fair value in the reporting period.

Mostotrest specializes in the construction, as well as reconstruction of road, railway bridges and roads. One of the company's largest projects is a bridge across the Kerch Strait.^[1]

2022: Revenue reduction by 35.2% to RUB 4.8 billion

In 2022, Mostotrest's revenue (the company participated construction in the routes Moscow -) St. Petersburg amounted to 4.8 billion, which is rubles 35.2% less than a year earlier. Net profit at the same time increased 2.7 times and reached 405.4 million rubles. Such data are contained in the statements that the company published in May 2023.

Mostotrest raised 4.8 billion rubles for the year

According to Interfax, citing materials from Mostotrest, at the end of 2022, the company's cost of sales fell by 46.6% compared to 2021, to 3.3 billion rubles. Gross profit increased by 22.8%, to 1.5 billion rubles. Profit from sales increased 3.3 times and amounted to 666.2 million rubles. Other income fell to 596.3 million rubles (-57.2%), other expenses - to 942.3 million rubles (-23.8%).

The group's total debt more than halved by the end of 2022, to 4.3 billion rubles (-54.2%). In particular, short-term liabilities decreased by 55.4%, to 3.8 billion rubles, long-term - by 40.6%, to 465.6 million rubles. It also follows from the Mostotrest report that by the end of 2022 the company had 274 employees against 509 a year earlier.

According to the agency, Mostotrest PJSC has significantly reduced the scale of its activities and financial indicators after the reorganization. Within the framework of the latter, JSC Roads and Bridges was allocated, which received the majority of the property, capacities and labor resources of PJSC, combining Transstroymehanizatsiya LLC, MTTS JSC, OSSP LLC, 12 branches and specialized plants in Moscow and Tula. JSC Roads and Bridges came under the control of JSC GK National Projectstroy, created as an infrastructure mega-contractor with the participation of VEB, Arkady Rotenberg and the 1520 group. Since the end of 2022, National Project Construction has been headed by the general director of the 1520 group Alexei Krapivin.^[2]

History

2023: CEO change

At the end of August 2023, Mostotrest, which specializes in the construction and reconstruction of road, railway and city bridges, roads and other engineering structures, announced the change of CEO. He was appointed Alexander Skorochkin, who previously worked in the group as CFO. His candidacy was unanimously supported by seven members of the board of directors on August 30, 2023, Mostotrest reported. Read more here.

2018: Arkady Rotenberg again bought Mostotrest

The Stroyproektholding company of billionaire Arkady Rotenberg acquired in the spring of 2018 the 100% of TFK-finance JSC, which owns 94.2% shares of Mostotrest PJSC. Writes about this TASS. Earlier, the deal was approved by the Federal Antimonopoly Service^[3] Mostotrest.]

Thus, Arkady Rotenberg again returned to ownership of a large road contractor. In 2015, the billionaire lost his share of Mostotrest to the structures of NPF Blagosostoyanie. According to some reports, the deal occurred in connection with the announcement of sanctions against Rotenberg by the United States.

At the same time, in reality, the billionaire continued to control the road contractor and make a profit from his work, Forbes wrote with reference to its sources. In particular, Rotenberg's structures issued loans to TFK-finance, on the maintenance of which the company spent the bulk of Mostotrest's dividends.

A little earlier it became known that the road contractor will receive a state contract for the maintenance of the automobile part of the Crimean bridge. The price of work is 477 billion rubles. For this amount, Mostotrest will ensure the operation of the facility from the moment of commissioning in early May to June 30, 2019.

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