Gazprom and more: the ranking of the largest industrial giants of Russia and Ukraine

Russia has 22 groups with a turnover of more than 6 billion euros and Gazprom is not in first place – In Ukraine the most important industrial giant deals with metallurgy

Besides Gazprom, that everyone knows, which ones are the biggest industrial giants of Russia and Ukraine? This question was answered by the Mediobanca Research Department, which recently published a report on the main multinationals of the planet. According to Piazzetta Cuccia's analysis, the main Russian and Ukrainian groups reflect the economy of their respective countries, largely based on the wealth of the subsoil and on agriculture.

Gazprom in second place

Let's start from Russia, where the top-3 by turnover is the prerogative of the Oil&Gas giants:

Lukoil (Russia's largest private oil company, engaged in refining);
Gazprom (public scrutiny);
Rosneft Oil (public scrutiny).

If, on the other hand, we broaden our gaze to the main ones 22 Russian industrial groups – each with a turnover exceeding six billion euros in 2021 – we get a picture that well represents the key sectors of the Russian economy:

7 groups are metallurgical;
5 operate in the Oil&Gas sector;
3 in telecommunications;
2 are mining;
2 of the GDO;
a chemical one (fertilizers);
one specializing in electronics and defense (state-controlled);
finally, Willdberries, which deals with online commerce (the Russian Amazon).

Smaller but noteworthy groups

Again according to Mediobanca, the smaller but nonetheless noteworthy Russian groups are the following:

Yandex, the Russian search engine with a turnover of 4,2 billion euros in 2021, almost 55 times less than Google;
AvtoVaz, the leading automobile manufacturer (68% owned by the French group Renault);
VK Company, which manages the Russian internet community VKontakte with a turnover of 1,5 billion euros, 70 times less than that of Facebook;
finally, the National Payment Card System, controlled by the Russian Central Bank, manages the Russian internal payment system MIR with 95 million cards in circulation (equal to 30,6% of the total), a value far from the 3,6 billion cards of the US Visa and even more by 7 billion of the Chinese UnionPay.

The largest industrial groups of Ukraine

As far as the 'Ukraine, the main multinational is metallurgical Metinvest, which produces a turnover of 16 billion euros (over six times less than Lukoil's 103 billion) and has production plants in Ukraine, the United Kingdom, Bulgaria and Italy. They complete the podium Naftogaz, a state-owned oil and gas company, and the food group Kernel.