OIL AND GAS BANKING FINANCE METALLURGY MINING CHEMISTRY E/GENERATION POWER GRID ENERGY RETAIL CONSUMPTION TELECOM HIGH TECH MEDIA TRANSPORT CONSTRUCTION ENGINEERING THIRD TIER NON-PUBLIC OTHER Financials Utilities Consumer Discretionary Consumer Staples Energy Real Estates Industrials Technology
Select ARPU BV/share CAPEX CAPEX/Revenue EBITDA EPS EV EV/EBITDA FCF FCF/share Free Float Loan-to-deposit ratio P/B P/BV P/E P/S R&D/CAPEX ROA ROE Act. subscribers Assets Balance cost Internal price for coal Electricity generation Revenue Cargo turnover Goodwill Deposits Deposits of individuals Deposits of legal entities Div income, AO Div income, ap Div. payment Dividend Dividend up Dividends/profit Diamond mining Gas mining Gold mining Coking coal mining Copper mining Oil mining Nickel mining Palladium mining Platinum mining Energy mining Coal Debt Debt/EBITDA Share of mortgage transactions Share of export sales Market share Ext. total capital Equity of fixed capital Return on FCF Income on securities Capacity utilization Capacity utilization Passenger seat occupancy Insider ownership CIUM Capitalization Capitalization Fee and commission income Sale contracts m Sale contracts rub Loan portfolio Loans to individuals Loans to legal entities R&D Cash Non-material assets Non-performing loans New areas on sale Ore processing Tot. area of stores Volume of sales of pipes Oper. expenses Opened new stores Heat supply Electricity supply to consumers from the network Passenger traffic internal Passenger traffic total Passenger traffic m / nar Oil refining Personnel Manufacture of products Sale of diamonds Sales of VAT Sales of cars Sales of auto exports Sales of aluminum Sales of real estate Sales of steel Labor productivity Auto production Production aluminum Steel production NPLs, NPL Length of transmission lines Interest expense Staff costs Expenses/person/year Capacity sales Coal sales Provisions for depreciation Rent EBITDA Bank profitability Cost of production Aluminum costs Gold costs Slab costs Diamond content Write-offs. bad loans Avg. selling price of electricity Avg. selling price of gold Average check average price square meter Average price of coal Cost of risk Transformer capacity Installed. temp. capacity Installed capacity Share price AO Share price ap Aluminum price Export gas price Met/prod price Price/capacity Flight hours Number of shares AO Number of shares ap Number of stores Number of aircraft Net. percent income Net profit Net profit n/a Net interest margin Net profit Net assets Net debt Net operating income Gas exports Coal export price
To assess the changes that have taken place among Russian issuers and on the Russian stock market as a whole, the experts of the RIA Rating agency prepared the next annual, fifth in a row, Rating of the 100 most expensive public companies in Russia as of the beginning of 2018.
The main ruble index (Moscow Exchange) fell by 5.5% over the year, while the dollar index (RTS) grew by only 0.2%. Nevertheless, despite the decline in the index, among the largest companies by capitalization, the majority showed an increase in quotations in 2017. According to the rating, the total capitalization of the TOP-100 Russian companies over the past year grew by 1.3% or $8.4 billion to $643 billion as of December 29, 2017. For comparison, in 2016 the growth was much higher - +58% or +233 billion dollars. The median capitalization of the Russian 100 public companies did not change and amounted to $1.8-1.9 billion. In its turn, minimum size capitalization, with which one could get into the top 100 most expensive companies in 2017, amounted to $318 million, against $267 million in last year's rating and 157 as of December 31, 2015. (Thus, the lower bar for entering the top 100 most valuable companies in Russia has doubled in two years.
The top ten, according to the rating, also includes the following companies: Sberbank, Gazprom, Rosneft, LUKOIL, NOVATEK, Norilsk Nickel, Gazprom Neft, Tatneft, Surgutneftegaz and NLMK. It is worth noting that two companies at once left the TOP-10 at the end of the year, and, accordingly, two newcomers are in the top ten. Magnit and VTB Bank left the top ten largest companies in Russia by capitalization.
Among the 100 most valuable companies, market capitalization in 2017 increased for 55, which is significantly less than last year's result (91 companies). Ingrad development company became the leader in terms of market capitalization growth among the TOP-100 companies in 2017. The capitalization of this company during the year increased by more than 8 times. The second company in terms of growth rates was Lenenergo, whose capitalization increased by 4.7 times, which is also mainly due to the additional issue. In general, in 5 companies, capitalization growth in 2017 was multiple, which in most cases was due to additional issues. For comparison, in 2016, 25 companies showed a multiple increase in capitalization, which was most often determined by the dynamics of shares.
The largest decrease in capitalization in 2017 among the companies included in the rating was demonstrated by the financial sector company FG "Future". AFK Sistema, Magnit, Bashneft, VTB Bank, Nizhnekamskneftekhim, Lenta, Chelyabinsk Zinc Plant, Rusagro, Uralkali and Polyus were also among the companies with a significant decrease in market capitalization.
RIA Rating is a universal rating agency of the media group MIA "Russia Today" specializing in assessing the socio-economic situation of the regions of the Russian Federation, economic condition companies, banks, industries, countries. The main activities of the agency are: the creation of ratings of regions of the Russian Federation, banks, enterprises, municipalities, insurance companies, valuable papers, other economic objects; comprehensive economic research in the financial, corporate and public sectors.
MIA "Russia Today" - an international media group whose mission is prompt, balanced and objective coverage of events in the world, informing the audience about different views on key events. RIA Rating as part of MIA Rossiya Segodnya is included in the line information resources agencies, including: RIA News , R-Sport , RIA Real Estate , Prime , InoSMI. MIA "Russia Today" is the leader in terms of citation among Russian media and increases the citation of its brands abroad. The agency also occupies a leading position in terms of citation in Russian in social networks and the blogosphere.
Moscow, January 31 - “Vesti. Economy". The total market capitalization of the 100 most expensive Russian public companies grew by 1.3% in 2017 to $643 billion.
Below we present the ten most expensive Russian companies.
The leading position in the rating is now occupied by Sberbank, whose capitalization over the past year has grown by almost 40%, to $84 billion. The share of market capitalization attributable to financial sector companies rose to 16.9% over the year from 15.8% in the previous ranking, and their market value approached $110 billion.
The long-term leader, Gazprom, with a capitalization of $53.35 billion, occupied the second line following the results of the past year. Capitalization of "Gazprom" was reduced by 11%, but it still allowed him to slightly (by only 45 million dollars) overtake "Rosneft".
3. Rosneft
Rosneft, which in 2016 moved the long-term leader, Gazprom, from the podium, could not hold on to the first place in 2017 and took the third place at the end of the past year. This is due to a decrease in the capitalization of Rosneft by 24% per year, to $53.3 billion.
Among the 100 most valuable companies, market capitalization in 2017 increased for 55, which is significantly less than last year's result (91 companies). In general, in five companies, capitalization growth in 2017 was multiple, which in most cases was due to additional issues. For comparison, in 2016, 25 companies showed a multiple increase in capitalization, which was most often determined by the dynamics of shares.
On the contrary, the minimum amount of market capitalization required to get into the top 10 has become less over the year - $15.3 billion against $15.9 billion a year earlier.
According to RIA Rating experts, in 2018, the growth of quotations for most companies, which began in mid-2017, is likely to continue. At the same time, for many of them, the effect of a low base has already been exhausted and growth should not be very strong.
As before, the largest contribution to the total value of the most valuable companies in 2017 was made by corporations associated with oil and gas production and oil refining. They account for 39.9% of the total capitalization of the Top 100 most expensive companies in Russia, which is 4.2 percentage points less than a year earlier. The reduction in the share is associated with the negative dynamics of the cost of a number of largest companies from this sector.
Left the top ten largest companies in Russia by capitalization retailer "Magnit" and VTB. VTB moved from tenth place in 2016 to 14th place at the beginning of 2018, due to a 33% reduction in capitalization. At retail network Over the past year, Magnit's capitalization has decreased even more - by 39%, or by $6.6 billion, which led to the loss of eight places in the ranking, and now this company is in 16th place.
Metallurgy became the third industry in terms of total capitalization. Metallurgical companies account for 13.9% of the market value of the largest Russian companies by capitalization. In general, 2017 can be called the “year of metallurgists”, since, following the prices of steel and coal, their stock quotes showed a rapid positive trend.
MOSCOW, Jan 30 - PRIME. The rating agency "RIA Rating" has prepared the next rating of the 100 most expensive Russian companies. The composition of the top three most capitalized companies has not changed, but the leader has changed, which in 2018 was Sberbank.
AT economic terms 2017 turned out to be quite a successful year for Russian companies. Macroeconomic statistics were moderately positive, consumer spending began to rise, and oil prices were at a relatively high and comfortable level for the Russian economy for most of the year. However, this did not have a significant positive impact on the Russian stock market - most companies showed a decline in the first half of the year, which was not offset by the growth that began in June 2017. The main ruble index (Moscow Exchange) fell by 5.5% over the year, while the dollar index (RTS) grew by only 0.2%. Nevertheless, despite the decline in the index, among the largest companies by capitalization, the majority showed an increase in quotations in 2017.
To assess the changes that have taken place among Russian issuers and on the Russian stock market as a whole, the experts of the RIA Rating agency prepared the next annual, fifth in a row, Rating of the 100 most expensive public companies in Russia as of the beginning of 2018. According to the rating, the total capitalization of the TOP-100 Russian companies over the past year increased by 1.3% or $8.4 billion to $643 billion as of December 29, 2017. For comparison, in 2016 the growth was much higher - +58% or +233 billion dollars.
Over the past year, the list of the 100 largest public companies in Russia has not changed much. At the end of 2017, 9 new companies were able to get into this list, including five companies through IPOs and SPOs (En+ Group, Detsky Mir, Lenenergo, INGRAD and Pharmacy Chain 36.6). At the same time, most newcomers managed to show a result that placed them at the bottom of the rating, and only one company out of nine new ones immediately occupied a position in the top part of the rating of the hundred most expensive companies in Russia - this is En + Group, which was not previously public, ranked 21st. a place with a capitalization of 7.8 billion dollars.
The median capitalization of the Russian 100 public companies did not change and amounted to $1.8-1.9 billion. In turn, the minimum amount of capitalization with which one could get into the top 100 most expensive companies in 2017 was $318 million, against $267 million in last year's rating and 157 as of December 31, 2015. (Thus, the lower bar for entering the top 100 most valuable companies in Russia has doubled in two years.
The leader in capitalization has changed again
The composition of the top three most expensive companies in Russia, as in 2016, has not changed, but all three companies have changed places. Rosneft, which in 2016 moved the perennial leader (Gazprom) off the podium, could not hold on to the first place in 2017 and took the third place at the end of the past year. This is due to a decrease in the capitalization of Rosneft by 24% for the year to 53.30 billion dollars. The leading position in the rating is now occupied by Sberbank, whose capitalization over the past year has grown by almost 40% to $84 billion. The long-term leader, Gazprom, with a capitalization of $53.35 billion, occupied the second line following the results of the past year. At the end of 2017, Gazprom's capitalization decreased by 11%, which allowed it to slightly (all by $45 million) overtake Rosneft.
The top ten, according to the rating, also includes LUKOIL, NOVATEK, Norilsk Nickel, Gazprom Neft, Tatneft, Surgutneftegaz and NLMK. It is worth noting that two companies at once left the TOP-10 at the end of the year, and, accordingly, two newcomers are in the top ten.
Magnit and VTB Bank left the top ten largest companies in Russia by capitalization. VTB Bank lost 4 places in the rating (it moved from 10th place at the end of 2016 to 14th place at the beginning of 2018), due to a 33% reduction in capitalization. Over the past year, retail chain Manit's capitalization has decreased even more - by 39% or $6.6 billion, which led to the loss of 8 places in the ranking, and now this company is in 16th place. In terms of the absolute volume of capitalization reduction, Magnit showed the second result, losing only to Rosneft, and in terms of relative reduction, it became the third among the TOP-100 after AFK Sistema (-44.6%) and FG Future (-52.3%).
Instead of retired companies, the TOP-10 included Tatneft (8th place, capitalization growth by 19% over the year) and NLMK (10th place, +36%). In addition, among the top ten companies in the country, Gazprom Neft improved its position, moving from 9th to 7th place due to capitalization growth of 19% over the year. At the same time, in 2017, Surgutneftegaz lost two places in the rating by capitalization and now occupies the 9th position, which is associated with a decrease in its capitalization by 5.6% or $1 billion.
In general, at the end of 2017, the capitalization of the top ten companies in the rating increased by 2.6%. Thus, the leaders, on average, grew somewhat faster than the rest of the companies. At the same time, the minimum amount of market capitalization required to get into the TOP-10, on the contrary, became less over the year - $15.3 billion as of December 29, 2017 against $15.9 billion as of December 31, 2016. In many respects, the good overall dynamics of the TOP-10 companies is explained by the result of the leader of the rating - Sberbank. Its capitalization increased by $23 billion over the year, and without its results, all other companies from the TOP-10 showed a total decrease in capitalization.
The industry composition of the top ten has become even more homogeneous over the year, although earlier the diversity was not very large. Seven of the ten most expensive companies represent the oil and gas sector (a year earlier there were 6), one bank is also in the top ten (previously there were two), and two metallurgical companies (at the end of 2016 there was one metallurgical company in the top ten).
Additional issues and SPOs ensured a multiple growth in capitalization
Among the 100 most valuable companies, market capitalization in 2017 increased for 55, which is significantly less than last year's result (91 companies). But in previous years, fewer companies with positive dynamics were replaced - in 2015 and 2014 there were only 45 and 12 such companies, respectively. Ingrad development company became the leader in terms of market capitalization growth among the TOP-100 companies in 2017. The capitalization of this company during the year increased by more than 8 times. Such a significant increase in capitalization was the result of an increase in quotations and an additional issue of shares in the amount of about 26 billion rubles as part of the merger of OPIN and Ingard. The second company in terms of growth rates was Lenenergo, whose capitalization increased by 4.7 times, which is also mainly due to the additional issue. In general, in 5 companies, capitalization growth in 2017 was multiple, which in most cases was due to additional issues. For comparison, in 2016, 25 companies showed a multiple increase in capitalization, which was most often determined by the dynamics of shares.
The largest decrease in capitalization in 2016 among the companies included in the rating was demonstrated by the financial sector company FG "Future". Its capitalization has more than halved over the year. The main reason for the decline in capitalization, according to RIA Rating experts, was significant problems with other financial companies(Opening, BIN and Promsvyazbank). FG "Future" suffered losses in this regard, which led to a decrease in its quotations. AFK Sistema, Magnit, Bashneft, VTB Bank, Nizhnekamskneftekhim, Lenta, Chelyabinsk Zinc Plant, Rusagro, Uralkali and Polyus were also among the companies with a significant decrease in market capitalization. According to RIA Rating analysts, the decline in capitalization among the leaders in terms of negative dynamics was mainly due to individual reasons.
In 2017, two relatively large IPOs took place, as a result of which the list of the largest Russian companies was replenished with new names. Firstly, the IPO was carried out by En+ Group, the holding company of Oleg Deripaska's assets. Its capitalization is mainly determined by the value of RUSAL (48% of the shares belong to En + Group) and energy assets. In the rating, En+ Group is in 21st place with a capitalization of $7.8 billion. Another major placement commercial network Children's World (capitalization at the beginning of 2018 $ 1.2 billion, 61st place in the ranking). It can be said that in 2017 the placements were quite successful, however, according to RIA Rating experts, there are probably no prerequisites for a radical expansion of geography, industry diversity and the list of public companies in general.
Industry concentration remains high
As before, the largest contribution to the total value of the most valuable companies in 2017 was made by corporations associated with oil and gas production and oil refining. They account for 39.9% of the total capitalization of the TOP-100 most expensive companies in Russia, which is 4.2 percentage points less than a year earlier. The reduction in the share is due to the negative dynamics of the value of a number of the largest companies in this sector.
The share of market capitalization attributable to financial sector companies rose to 16.9% over the year from 15.8% in the previous ranking, and their market value approached $110 billion (+8.7% yoy). Metallurgy became the third industry in terms of total capitalization. Metallurgical companies account for 13.9% of the total market value of the largest Russian companies by capitalization (11.6%). In general, 2017 can be called the “year of metallurgists”, since, following the prices of steel and coal, their stock quotes showed a rapid positive trend.
At the same time, the results of the current rating indicate that the Russian financial sector has sharply reduced its representation in the rating, although last year it was the leader in terms of the largest number of issuers in the rating. At the beginning of 2018, only 10 companies from this sector were among the TOP-100 most valuable companies in Russia, against 16 at the end of 2016. Thus, financial companies became only the fourth most represented among all industries. Such dynamics in the number of public financial companies is associated with the reorganization of three large Russian banking groups, about which RIA Rating wrote in detail in an article devoted to the analysis of the results of the banking sector in 2017. http://riarating.ru/banks/20171227/630079927.html
It should be noted that, despite the sharp reduction in the number of financial institutions, the share of the three largest industries by capitalization still exceeds 70% of the total capitalization of the TOP-100 companies in the ranking. Thus, industry concentration remains relatively high.
At the same time, the industry " Information Technology", whose share over the year increased by 1.6 percentage points to 2.6% of the total market capitalization. This became possible due to the growth in the market capitalization of companies representing this industry by more than 1.6 times. The worst dynamics in 2017 demonstrated by companies representing such industries as "agro-industrial complex and food industry and "Trade".
According to RIA Rating experts, in 2018, the growth of quotations for most companies, which began in mid-2017, is likely to continue. At the same time, for many of them, the effect of a low base has already been exhausted and growth should not be very strong. It is noteworthy that external risks remain high, in particular, a strong tightening of US sanctions is possible, which could become a “black swan” for the Russian stock market. At the same time, a number of sectors and companies from them will continue to benefit from economic stabilization, inflation reduction and monetary policy easing.
In February 2017, the RIA Rating agency released another rating of the hundred most expensive Russian companies. Their total capitalization in 2016 amounted to $635 billion, which is 58% ($233 billion) higher than in 2015. At the same time, the value of all Russian companies in the top 100 corresponds to the capitalization of Apple alone ($630 billion). However, the potential of many companies is not fully disclosed and their shares on the market may still soar in price.
Top 10 most valuable public companies in Russia in 2017
10. VTB Bank
Capitalization - 15 827 million dollars.
The main shareholders of this bank are state structures - the Federal Property Management Agency and the Ministry of Finance of the Russian Federation. They own 60.9% of voting shares. In terms of authorized capital, VTB Bank ranks first among the country's credit institutions, and second in terms of assets. In 2016, VTB Bank and Russian Post entered into an agreement to establish Post Bank. Dmitry Rudenko became its head, who intends to increase the bank's loan portfolio to 4 billion rubles by 2023.
9. Gazprom Neft
Capitalization - 16 888 million dollars.
The company was founded in 1995 by order of B. Yeltsin and was then called "Siberian oil company". In 2005, its controlling stake was bought out by Gazprom. Gazprom Neft was the first company to start producing oil on the Russian Arctic shelf. By 2020, the company plans to increase the total oil production to 100 million tons of oil equivalent per year.
8. Magnet
Capitalization - 17,005 million dollars.
Almost all Russian cities are covered by a "magnetic" network. The total number of Magnit stores as of July 2016 reached 12.9 thousand. The first of the "Magnets" was opened in 1998 in Krasnodar and initially household chemicals were sold there. And the development of the hypermarket chain began in 2006. In 2007, the first of them was also opened in Krasnodar. Apparently, this is a happy city for the owners of Magnit.
7. Surgutneftegaz
Capitalization - 18 217 million dollars.
Most large enterprise the city of Surgut and one of the largest players in the Russian oil market. For the whole of 2016, Surgutneftegaz produced 61 million 848.6 thousand tons of oil and produced 9 billion 663 million cubic meters of gas. And the NPF under the brand of the same name has become one of the most profitable in.
6. MMC Norilsk Nickel
Capitalization - 26 201 million dollars.
A Russian mining and metallurgical giant that produces 100% platinum in the Russian market, 96% nickel, 95% cobalt and 55% copper. The MMC accounts for 1.9% of Russia's GDP. Vladimir Potanin, who holds the position of General Director of Norilsk Nickel, at a meeting with Vladimir Putin said that by 2023 he intends to invest about 1 trillion rubles in the development of production. This will allow the enterprise to rejuvenate its capacities and make them the largest in the world.
5. NOVATEK
Capitalization - 39 220 million dollars.
It ranks second in Russia in terms of gas production. Together with such companies as Rosneft, Gazprombank and Vnesheconombank, it is included in the US sanctions list. This means that NOVATEK cannot borrow on the US market for more than three months.
4. LUKOIL
Capitalization - 48,076 million dollars.
Until 2007, LUKOIL was the leader in terms of oil production in Russia, but then lost this title to Rosneft. In 2017, the company produced its first millionth ton of oil in the Caspian Sea, at the Yu. V. Filanovsky. And in 2016, LUKOIL ranked fourth in the annual environmental performance rating of Russian oil and gas companies according to the World Fund wildlife and 2nd place in .
3. Gazprom
Capitalization - 59 932 million dollars.
The corporation whose dreams come true takes the third place in the list of the most expensive companies in the Russian Federation in 2017. Her interests include not only exploration and production of gas, but also its transportation, storage and sale. Since December 2013, Gazprom has retained the right to export pipeline gas; until that time, the corporation had the right to export from Russian Federation any gas.
2. Sberbank
Capitalization - 61 159 million dollars.
According to the Central Bank, Sberbank -. There is no need to worry about the deposits placed there, the Central Bank is unlikely to revoke the license from Sberbank in the foreseeable future. And in terms of accessibility, Sberbank occupies the highest step on the banking pedestal - it has almost 17.5 thousand branches and 14 territorial banks in 83 regions of Russia.
1. NK "Rosneft"
Capitalization - 69 907 million dollars.
The controlling stake in Rosneft is owned by Rosneftegaz, and Igor Sechin is the executive director of the corporation. In 2016, the Glencore consortium and the Qatar Investment Authority fund in Qatar acquired a 19.5% stake in Rosneft for 10.2 billion euros. However, Rosneft still has 50% + 1 share. Last year, Rosneft was mentioned in the press in connection with the high-profile arrest of the head of the Ministry of Economic Development, Alexei Ulyukaev. He is suspected of threatening and extorting a bribe in the amount of two million dollars from a Rosneft representative. In this amount, Ulyukaev estimated a positive assessment allowing Rosneft to acquire the state-owned stake in Bashneft.