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Kalashnikov does not rule out IPO if permission from Russian government obtained

December 18, 2017, 14:41 UTC+3 MOSCOW

The company's products are exported to over 20 countries

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© Stanislav Krasilnikov/TASS

MOSCOW, December 18. /TASS/. Russia’s arms manufacturer Kalashnikov does not rule out an initial public offering (IPO) if it obtains a permission from the Russian government, Deputy General Director for Economics and Finance Pavel Skachkov said in an interview with TASS.

"Initial public offering is one of classic options of attracting finances for fast-growing companies and monetization of investments of main shareholders. We do not rule out an IPO in the future. However, the company is of strategic importance for the country, which is why serious agreements and a permission at the Russian government’s level is required for the defense enterprise to enter the market," he said.

Kalashnikov Concern is Russia’s largest manufacturer of a wide range of small arms. At present 51% of the company's shares belong to the state corporation Rostec, while private investors hold 49%.

The company's products are exported to over 20 countries.

The profits 

Consolidated profit of Russia’s arms manufacturer Kalashnikov Group will rise to $66.5 mln in 2018, Deputy General Director for Economics and Finance Pavel Skachkov told TASS, adding that in 2017 it is expected to reach $46 mln.

"Outlook for 2018 profit is around 22.5 bln rubles under IFRS for Kalashnikov Concern and around 55 bln rubles for the group of companies. Net profit is expected at around 1.3 bln rubles for the concern, and EBITDA - 2.8 bln rubles, and for the group - around 3.9 bln rubles worth of net profit and 6.5 bln rubles worth of EBITDA," he said.

"Net debt as of yearned will amount to $261 mln for Kalashnikov Concern and $290 mln for the group," he added.

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