The raw materials sector, particularly oil and metals companies, still dominates, accounting for 70 percent of this figure, but the leaders in terms of growth are the auto and food industries.
Total revenues in this year's Expert 200 rating -- compiled from companies' sales data -- was $20 billion higher than last year, an increase overshadowed by the 2000 rating, which showed growth of $44 billion. However, the rating's leaders are clearly giving more thought to their market value. The total capitalization of participants in the rating according to Expert RA grew by 60 percent from $62.5 billion to $105 billion. Russian companies were only worth more in 1997, the year before the financial crisis.
The big names of the rating haven't changed for many years. Gazprom, Unified Energy Systems and LUKoil maintained their grip on the top three positions, but this year there are plenty of fresh names in the upper ranks. Newcomers include Yevrazholding in 19th place, the Urals Mining and Metals Co. at 23rd, and Rosenergoatom at 20th. Expert RA formerly counted the revenues of the companies in these holdings separately.
Russian Aluminum, which did not previously disclose financial results, reported total revenues of $4.1 billion for 2001, which immediately put it in 7th place. Expert RA specialists cautiously predicted last year that RusAl would be in the top 20.
Sibur vanished from the rating and is now included in Gazprom's consolidated revenues.
The most interesting changes happened in positions 20 through 40. The total revenues of these companies grew from 331.5 billion rubles ($10.5 billion) to 484.1 billion rubles and their share of total revenues rose from 9 percent to 11 percent. Among the best performers were Wimm-Bill-Dann in 33rd place and Baltika, which enjoyed 67 percent growth and jumped from 46th place to 36th.
"Formerly the ranks of the leaders were far ahead of the other companies. Now the oligarchs of the second wave are creating their holdings in which the processing and food sectors dominate," Expert RA general director Dmitry Grishankov said.
Based on the current rating, the raw materials sector is no longer the engine room for Russian industry. The oil majors' share in the total revenues was less than half at 48.4 percent compared to 52 percent last year. The share of ferrous metallurgy also fell.
"If this trend continues, then in 20 to 25 years the raw materials sector will account for 25 percent to 30 percent, which is quite respectable for a developed economy," Expert RA specialists said in the report.
| Russia's Biggest Companies by Revenue | |||||
| 2002 | 2001 | Company | Revenues (Bln rubles) 2001 | Revenues (Bln rubles) 2000 | Change (%) |
| 1. | 1. | Gazprom | 588.5 | 498.1 | 18.2 |
| 2. | 3. | UES | 454.5 | 335.6 | 35.4 |
| 3. | 2. | LUKoil | 434.4 | 422.6 | 2.8 |
| 4. | 4. | Yukos | 295.8 | 276.9 | 6.8 |
| 5. | 5. | Surgutneftegaz | 163.6 | 171.0 | -4.3 |
| 6. | 7. | Tyumen Oil Co. | 150.9 | 119.5 | 26.3 |
| 7. | -- | RusAl | 119.6 | n/a | -- |
| 8. | 12. | AvtoVAZ | 112.8 | 83.1 | 35.7 |
| 9. | 6. | Norilsk Nickel | 106.9 | 129.4 | -17.3 |
| 10. | 11. | Sibneft | 104.3 | 67.4 | 54.7 |
| 11. | 8. | Tatneft | 100.8 | 105.9 | -4.8 |
| 12. | 10. | Slavneft | 87.7 | 115.5 | -24.1 |
| 13. | 9. | Rosneft | 68.0 | 69.5 | -2.1 |
| 14. | 14. | Alrosa | 55.4 | 47.3 | 17.3 |
| 15. | 13. | Severstal | 52.3 | 59.0 | -11.4 |
| 16. | 22. | Sidanco | 49.2 | n/a | -- |
| 17. | 15 | Magnitogorsk Metals Plant | 47.3 | 46.4 | 2.1 |
| 18. | 18. | Bashneft | 45.8 | 39.5 | 16.0 |
| 19. | -- | Yevrazholding | 40.0 | 34.9 | 14.7 |
| 20. | -- | Rosenergoatom | 37.4 | 23.7 | 57.8 |
| Source: Expert PA | |||||
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