Sinara-Transport Machines (CTM)

Sinara-Transport Machines JSC (STM) is a division engineering holding of the Sinara Group, unites the scientific, technical and production potential of Russian enterprises for engineering, production, maintenance of railway equipment and diesel industrial installations.

Performance indicators

2025: Revenue growth to RUB 118.7 bln

Sinara-Transport Machines Holding (STM) summed up the operational and financial results of 2025: according to the results of 12 months, the company's revenue from the sale of equipment and the provision of services reached 118.7 billion rubles. Such data were published by the press service of the company on February 20, 2026.

As indicated on the holding's portal, the consolidated revenue of STM at the end of the year exceeded the forecasts of management, which were announced in December 2025. The key driver of growth was the sale of electric trains, which increased by 53% compared to 2024, to 19.9 billion rubles.

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Фото: Freepik

The positive dynamics is also explained by the increase in the production of a new model of the high-speed train "Finist," which has been produced since 2023. The service and repair segment showed a steady growth of 16% compared to 2024, reaching 40 billion rubles.

The company's representatives attribute the decline in indicators in some segments to a decline in demand in the context of a difficult macroeconomic situation. The holding observes the formation of deferred demand and uses this period to develop and certify new technical positions, including diesel locomotives, track machines and electric locomotives.

Director of Corporate Finance of the Sinara Group Vladimir Potatuev confirmed that the company showed steady results, exceeding December forecasts for revenue due to intensive work at the end of 2025 and an increase in the shipment of electric train cars by 25%. He said that by 2030, STM plans to increase revenue to 400 billion rubles due to projects already launched and provided with resources.

According to Vladimir Potatuev, the company is coping with a reduction in customer investment programs and a high key rate. He added that the optimization of 2025, including the warm conservation of excess capacity and working capital management, brought savings of more than 12 billion rubles.^[1]

2024: Revenue growth doubles to $ ₽3,54 billion

Machine-building holding "Sinara-TM" doubled revenue at the end of 2024, increasing it to ₽3,54 billion. This is evidenced by the financial statements published on March 7, 2025. Despite revenue growth, the company's net profit under RAS decreased 4.1 times and amounted to ₽720,17 million compared to 2023.

According to Interfax, the company's revenues from deliveries to the domestic market in the reporting period amounted to ₽1,92 billion, which is 4.9 times higher than in 2023. The domestic market accounts for 54.14% of the holding's revenue. For comparison, in 2023 the share of supplies in Russia was only 24.7%. Export deliveries were not carried out in 2024. Revenues from the provision of services reached ₽1,62 billion (+ 36.1%), which corresponds to 45.9% of total revenue.

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Фото: Sinara-TM

The representative of the STM press service explained that the presented document reflects the balance sheet of a specific legal entity - STM JSC, but the holding includes a large number of legal entities. According to him, the most representative of the holding is reporting according to International Financial Reporting Standards (IFRS), taking into account all aspects of intercompany interaction. The financial result of STM JSC has developed, including taking into account intercompany operations.

Despite the growth in revenue, the company's cost of sales also increased 1.8 times and amounted to ₽4,09 billion. This led to the formation of a gross loss of ₽546,07 million, which is 17.6% less than in 2023. Profit before tax decreased 230 times - from ₽2,65 billion to ₽11,52 million.

The financial position of the company is characterized by a significant increase in accounts payable: from ₽150,2 million as of December 31, 2023 to ₽2,13 billion as of December 31, 2024. Accounts receivable also rose, from ₽8,05 billion to ₽13,32 billion in the same period.^[2]

2023: 7.2% decrease in revenue to RUB 1.58 billion

In 2023, Sinara - Transport Vehicles Holding (Sinara-TM) received revenue of 1.58 billion rubles. This is 7.2% less compared to 2022, when the value was 1.71 billion rubles. Financial indicators are given in a report published in early March 2024.

Deliveries of products to the domestic market in 2023 brought the company about 391.57 million rubles, which corresponds to 24.7% of total revenue. For comparison, a year earlier, the share of supplies in the Russian Federation was 38.9%. The cost of sales on an annualized basis rose by 15.9% - from 1.94 billion rubles to 2.25 billion rubles.

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Фото: Unsplash

Sinara-TM Holding demonstrated a net profit of 2.96 billion rubles in 2023. In 2022, profit was estimated at 583.63 million rubles. Thus, 5.1-fold growth was recorded. Accounts payable of the machine-building enterprise decreased from 262.03 million rubles as of December 31, 2022 to 150.2 million rubles as of December 31, 2023, accounts receivable - increased from 5.67 billion rubles to 8.05 billion rubles.

Currently, [by the beginning of 2024], the company is not experiencing significant financial difficulties associated with geopolitical instability, the report notes.

According to the data published on the holding's website, the total number of its personnel exceeds 26 thousand employees (at the beginning of 2024). The group's activities cover the entire life cycle of locomotives and track machines - from creation to service. The holding's assets are located in the Sverdlovsk and Kaluga regions. During 2023, several subsidiaries left the holding: for example, in April, the group sold its parent company a 100% stake in Sinara - City Rail Transport LLC, Sinara - Energy Solutions LLC, Sinara - GM LLC^[3]

History

2025: Renting the entire business center near the Lubyanka metro station in Moscow for 380 million rubles a year

The company "Sinara - Transport Machines" (STM) rented the building of the business center "Milyutinsky, 12" from the metro station "Lubyanka" in the center of Moscow. This was reported in May 2025 in the press service of STM. The total area of ​ ​ the leased object is 9 thousand square meters. m., for which the company will pay more than 380 million rubles. in year. Of these, 5.7 thousand square meters. m - office premises, the rest - infrastructure. The move is linked to a reduced need for office space and a desire to cut management costs.^[4]

2022

Revenue increase by half - up to 1.7 billion rubles

At the end of 2022, the Sinara - Transport Machines group (STM) raised 1.7 billion rubles, which is twice as much as a year earlier (794.94 million rubles). The company's net profit during this time decreased from 1.8 billion rubles to 583.6 million. This is stated in the report of the engineering holding, which was published in early March 2023.

According to Interfax, citing STM materials, in 2022 the group's cost of sales reached 1.9 billion rubles, which is 24% more than a year ago. Gross loss decreased by 3.3 times, amounting to 231.5 million rubles, income from participation in other organizations decreased by 2 times and amounted to 1.4 billion rubles.

At the end of the year, the company's net profit decreased by 1.3 billion rubles

In 2022, Sinara - Transport Machines produced and sold 140 electric train cars (+ 10 units by 2021), 118 electric locomotives (+ 12 units), 49 shunting diesel locomotives (+ 18 units), 708 units of track equipment (-136 units), maintenance and repair 330 units of locomotives (-17 units). More than 8,100 sections were serviced at the company's sites.

The STM noted that in 2022 the direction of urban public transport (129 units were implemented) and infrastructure services were actively developed - a project was launched to provide a new service for cleaning crushed stone ballast of the upper structure of the track, as well as electrical contact welding of rails on the way.

STM notes that the debt burden remains at a level comfortable for the holding. The ratio of net debt to EBITDA in 2022 was 3.2. STM Holding in 2022 continued to optimize its debt portfolio by placing a third bond issue for 10 billion rubles with a maturity of five years. The funds from the placement were used to replace short-term and expensive loans.^[5]

Agreement with Novomet on the receipt of electric motors

Russian high-speed trains will receive domestic electric motors of the Novomet company. Rusnano reported this on July 19, 2022.

Sinara - Transport Machines agreed with the Perm enterprise. The memorandum of intent for the joint development of traction equipment components for high-speed electric trains was signed by Evgeny Gritsenko, Vice President of Sinara Group, and Maxim Perelman, General Director of Novomet.

The parties agreed on the joint design, testing, certification and serial production of a traction kit for electric vehicles, which includes an electric motor with a capacity of 120 kW, as well as its control and cooling systems.

In the development and production of electric machines, Novomet patents and know-how will be used. STM will take over the technological part of the development.

2021: Participation in the creation of the Consortium for Hydrogen Development in Transport

On July 6, 2021, it became known that Sinara - Transport Machines Holding, Ural Federal University, Institute of High-Temperature Electrochemistry, Ural Branch of the Russian Academy of Sciences, Agency for Technological Development and Advent Engineering entered into a cooperation agreement. Read more here.

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