On the IEK GROUP website and the Corporate Information Disclosure Center website, the consolidated financial statements of IEK GROUP for 2023 according to IFRS — International Financial Reporting Standards — have been published. IFRS reporting has been prepared by the company since 2019 and allows tracking the growth and development of IEK GROUP.
Key indicators for 2023 testify to the stable development and financial stability of IEK GROUP:
- The company's revenue has been growing steadily at no less than 20% for the last 3 years. In 2023, revenue increased by 25% and amounted to over 44.7 billion rubles.
- EBITDA growth was 20% and reached 5.5 billion rubles.
- It should be noted the increase in net debt to 11.3 billion rubles (the calculation includes long-term and short-term loans and borrowings minus the amount of cash and its equivalents). This is related to financing the deal to purchase Russian assets of Legrand Group, an increase in inventories as a result of qualitative improvement in logistics service, opening of new warehouses, and significant expansion of the assortment.
- Return on equity (ROE) was 20.2%. This indicator characterizes the efficiency of using the owners' capital and reflects the amount of net profit on invested capital.
— Such results are positive indicators for investors who decided to purchase IEK GROUP bonds, comments Sergey Medvedev, Deputy Financial Director of the company. — Positive dynamics are associated with our successful strategy, based on sound financial policy, investment in Russian automated production, and the creation of our own innovative developments.
Products offered by IEK GROUP today can be found both at major industrial facilities and in private homes. The company develops and supplies complex integrated solutions combining equipment, control systems, and software for industry, energy, and residential construction. IEK GROUP engages in the life of every partner and consumer, ensuring reliable power supply to facilities, stable telecommunications, and automation of engineering processes.