Page 118 - RusRPTApr20

In the end of 2019 the Finance Ministry continued to suggest cutting the state’s stake to a controlling one in the company and other state majors. Record-high financials for 2019 are attributed to higher income from conventional tanker transportation. The company's strategy until 2025 is still focused on large-scale industrial projects and transportation in difficult Arctic conditions. In 2019 Sovkomflot added four tankers to its fleet. The company also stroke a major deal on gas-powered tankers to service Arctic liquefied natural gas projects of Novatek gas major, as well as two tanker deals for Sakhalin-1 project.
9.2.13 Other sector corporate news
Russia’s private medical care company MD Medical Group released modest 4Q19 operational results. Core deliveries and IVF cycles declined 2% y/y and 5% y/y, respectively, translating into a 5% y/y blended annual increase. 4Q19 y/y revenue was up 3% y/y; FY19 revenue advanced 8% y/y to RUB16bn, slightly underperforming analysts’ forecasts. The soft numbers were due to the still challenging sector conditions: with the number of births declining for a fourth consecutive year (down 8% y/y in 11mo19), pressured consumption, an incremental headwind from the allocation of state funded IVF quotas to 9mo19, and a modest pick-up in newly opened hospitals. On a LFL basis, the 2019 volumes were almost flat y/y across all services (0-5% y/y range), while new facilities yet do not bring sizable acceleration.
118 RUSSIA Country Report April 2020 www.intellinews.com