About the company Zvezda
Security pageZvezda is a St Petersburg engineering plant that makes high-speed diesel engines and gearboxes for vessels, as well as power units. Its products are used in the fleet and in off-grid power generation. The shares trade on the Moscow Exchange under the ticker ZVEZ.
What the company does
Marine engineering is an industry of one-off products and long relationships. An engine is designed for a specific type of vessel, takes months to build and stays in service for decades. Customers are few, every order is large, and the flow of orders is uneven.
Hence the importance of the second line of business — servicing and spare parts for engines already delivered. A unit that runs for decades needs repairs and components, and this income does not depend on whether new machines are being ordered at the moment.
Demand is set by state shipbuilding programmes and the needs of the fleet, which means it is planned far in advance and outside market logic.
Business lines
Marine diesel engines
High-speed engines for naval ships and commercial vessels.
Gearboxes and transmissions
Mechanisms that transmit power from the engine to the propeller.
Servicing and spare parts
Repair and supply of parts for units that stay in operation for decades.
History
- 1932A plant producing marine engines is founded in Leningrad.
- 1990-еConversion into a joint-stock company.
- 2010-еImport substitution programmes in marine engineering.
Business review
Strengths and weaknesses describe the business itself. Opportunities and threats describe what may happen around it.
Strengths
- Rare expertise in marine engineering that cannot be replicated quickly.
- Servicing units that run for decades brings in income outside the cycle of new orders.
- Import substitution of marine engines creates demand for domestically made products.
- State shipbuilding programmes shape long-term demand.
Weaknesses
- Orders are one-off and uneven: gaps are possible between large contracts.
- Customers are few, and the loss of one is felt immediately.
- Demand is set by state programmes rather than by market conditions.
- Production assets need modernisation, which is hampered by difficulties with equipment supplies.
Opportunities
- Replacing imported marine engines widens the range of orders.
- State fleet renewal programmes fund the purchases.
- The growth of northern shipping increases demand for diesel power units.
- The exit of foreign manufacturers has freed up a niche in marine engineering.
Threats
- Engine components depend on imports.
- Orders follow the budget cycle rather than market demand.
- Metal and materials rise in price faster than contract prices are revised.
- Worn-out equipment requires investment in modernisation.
Frequently asked questions
What does the Zvezda plant do?
It makes high-speed diesel engines and gearboxes for vessels, as well as power units, and services equipment it delivered earlier.
Why is marine engineering a one-off production business?
Because an engine is designed for a specific type of vessel and the tasks it has to perform. Production runs here are short, manufacturing takes months, and there are few customers in the industry.
Why does servicing matter more than new sales?
A marine engine runs for decades and needs repairs and spare parts throughout that time. This income stream is stable and does not disappear in years when there are no new orders.
Issuer profile
What the company does
The company is classified under the «Industrials» sector, using the taxonomy we apply when comparing securities with one another.
The same sector holds 22 issuers on the platform, and their figures are computed by one method — so this company's revenue, profit and leverage can be compared with them directly.
The company is registered in Russia and identified in regulatory disclosure by tax number 7811038760. That number locates its statements in state registries regardless of how its name is spelled — and the spelling differs even between official documents.
Listed securities
The issuer has 1 security listed: 1 share class. All are shown on this page, including those trading in different modes and different currencies.
Across Moscow Exchange quotation list levels the securities split as follows: 1 at level 3. The level reflects how strict the disclosure, turnover and track-record requirements the issue meets are — not how attractive the investment is.
Financial statements
The most recent annual report we hold is for 2025 under IFRS. The standard is named for a reason: IFRS and RAS compute the same quantities by different rules, disagree by design and are never averaged.
Revenue for 2025 was 3.59B ₽.
That is 0.8 % more than in 2024, when revenue was 3.56B ₽. The comparison stays within one reporting standard — otherwise the growth could turn out to be a change of accounting rules and nothing more.
2025 closed with a loss of −258.00M ₽.
Equity stands at −4.15B ₽ against total assets of 10.90B ₽. The difference between the two is the company's liabilities, and the larger it is relative to equity, the more the business depends on borrowed money.
This section is assembled from our own data on the company's securities, dividends and financial statements. It is a description, not a recommendation.
Securities of this issuer
Shares1
- ZVEZЗВЕЗДА ПАО ао5.45 ₽