Krastsvetmet Doubles Precious Metals Sales in 2023

Krastsvetmet, a Russian company specializing in precious metals, reported a significant increase in its sales for 2023. The company's revenue from the production and sale of precious metals surged to 123 billion rubles (approximately $1.35 billion), nearly doubling from the previous year's figure of 65 billion rubles (around $715 million). This impressive growth is further highlighted in its jewelry production segment, which also saw revenues almost double to 3.5 billion rubles (about $38.5 million).

The company's total revenue for the year reached 130.2 billion rubles (roughly $1.43 billion), with a net profit of 1.1 billion rubles (approximately $12.1 million), marking a highly successful fiscal period. Krastsvetmet has a substantial presence in the Russian market for eight precious metals, holding significant shares: 74% in platinum, 56% in gold, and 60% in the production of catalytic systems. In 2023, the company produced 524 tons of precious metals.