Not all Western companies decided to leave the Russian market after the aggression against Ukraine. American and European companies appear among the best-earning businesses in Russia.
Forbes has published a ranking of foreign companies that have remained on the Russian market and are doing best on it. Among the global giants, American and European companies predominate. The Chinese giant appears only in tenth place.
This year’s ranking of companies that earn the most on the Russian market is opened by the French concern Leroy Merlin, which earned 529.7 billion rubles in Russia last year. The next two places are occupied by tobacco giants – the Japanese JT Group and the American PMI.
In fourth place is PepsiCo with a profit of USD 303 billion, followed by the French Elo Group, owner of, among others, Auchan retail chain. The next place is taken by the Dutch telecommunications group VEON, which earned 286 billion rubles in Russia.
The German trading group Metro AG takes seventh place, followed by two food giants, the American Mars and the Swiss concern Nestle.
The ranking is closed by the only Chinese company in the top ten, the Chinese automotive concern Cherry Automobile, with a profit of 147.5 billion rubles.
Exodus of Western capital
After Russia invaded Ukraine, many large Western companies decided to withdraw from the Russian market. These changes are quite clearly visible in the ranking published by Forbes. Last year, the French concern Leroy Merlin took second place, followed by the German Volkswagen. However, the company left the Russian market.
Also dropped from the ranking were: Apple, Toyota, Samsung, or Renault. American companies dominate the list of the best-earning companies in Russia.