IEK GROUP: record results of 2021 and a high level of financial reliability!

28.03.2022

The preliminary results of the activities of IEK GROUP in 2021 have been summed up and they have become a real sensation. In the past year the company achieved sales growth of 28%. This is a record result for the last 5 years!

Despite the difficult conditions for business development during the Covid-2019 pandemic, IEK GROUP was able to realize its plans and show excellent results. CEO Mr. Andrey Zabelin noted that IEK GROUP has been actively increasing its results over the past few years.

The strong financial profile of IEK GROUP, its successful business model and top positions in key sales markets were appreciated by the Expert RA rating agency. In the last days of 2021, the agency assigned IEK GROUP a high credit rating of ruA- and assessed the rating outlook, as stable.

The credit rating was assigned by IEK GROUP for the first time, and the company immediately received the ruA- level in the group of "moderately high level of creditworthiness/financial strength/financial stability compared to other rated objects in the Russian Federation". The positive rating is due to a stable market position, conservative financial policy, high quality of corporate governance and strategic planning.

According to the Expert RA agency, the electrical industry market is characterized by low capital intensity and, as a result, high competition. At the same time, IEK GROUP is among the top three leading players in the presented segment, which indicates its significant market positions.

The company's assortment includes about 18.5 thousand SKU, which are widely used in many sectors of the economy. IEK® electrical and lighting engineering, ITK® IT communications products and LEDEL® professional lighting engineering, ONI® industrial automation equipment and MasterSCADA® software allow creating complex solutions for any tasks, which ensures a steady demand for the company's products.

The rating and investment consultants of “Otkritie” Bank participated in the process of obtaining the credit rating of IEK GROUP — the specialists helped to understand the methodology for assigning a credit rating and prepare materials for the Expert RA agency in a quality manner. As a result, the experts were able to more accurately assess the competitive and market potential of IEK GROUP.