OREANDA-NEWS. Based on results from 2014, Concern Radio-Electronic Technologies (KRET), which is part of Rostec Corporation, is significantly ahead of leading international military-industrial companies in terms of revenue growth as well as R&D financing.

KRET it continuing its active investment strategy in developing new products and technologies in key areas. In 2014, more than 13 billion rubles were allocated for R&D, which was 13.2% of the concern's revenue. With this the percentage, KRET has surpassed many international competitors in the field of military and civilian products. For example, the company Elbit Systems spent 9.05% of its revenue on research and development, Thales spent 5.2%, and Honeywell spent 4.7%.

"Last year the concern succeeded on all key financial performance indicators, including revenue growth: compared with 2013, revenue increased 36%, and over the six years of the concern's existence, this figure has grown almost six-fold, from 18 billion to 105 billion rubles," said KRET CEO Nikolai Kolesov during a meeting of the board of directors.

KRET's long-term development strategy is based on a constant growth of competitiveness through increased investment in the latest developments. This allows the concern to achieve high financial results and produce world-class products. In 2014, KRET's revenue amounted to 105 billion rubles, its net profit was 8.2 billion rubles, and the EBITDA was 15 billion rubles.