Russian state conglomerate Rostec, the country's largest industrial holding company, said its net profit fell 42% last year despite higher revenue, underscoring mounting financial pressure on one of the Kremlin's key defense and manufacturing groups as the war in Ukraine and Western sanctions continue to reshape the economy.
Rostec CEO Sergei Chemezov told Prime Minister Mikhail Mishustin on Wednesday that the company's revenue rose 25% in 2025, helped in part by state defense orders, but net profit dropped to 76.4 billion rubles ($986 million).
"Unfortunately, we do not have much of our own money left to launch investment projects," Chemezov said.
Rostec, which oversees more than 800 organizations across 60 Russian regions and plays a central role in the country's defense industry, no longer publishes detailed annual financial statements after President Vladimir Putin signed a decree in March allowing it to classify all of its financial data.
The move came after several of Rostec's key subsidiaries reported heavy losses or worsening financial results.
