OMZ Perspektivnye Tekhnologii Group acquired a 61.02% stake in European Electrotechnika from the company's co-founders Sergey Dubenk and Ilya Kalenkov. After the deal, they were left with 14.39% and 14.76% respectively. On the basis of European Electrotechnics will be created a competence platform in the field of engineering and supply of equipment for the o...

European Electrotechnics' RAS net profit for 2023 amounted to ₽1.203 billion, up 3 times from ₽0.319 billion in the previous year. Revenue decreased by 4% to ₽1.45 billion vs. ₽1.51 billion a year earlier.

European Electrotechnics redeemed 58.187 mln common shares, which is 9.5% of the authorized capital. Securities were acquired in the course of the buyback. After their redemption, the share of the free float will increase to almost 10% and the dividend per share will also increase.

European Electrotechnics announced the launch of a buy-back of up to 10% of its shares in accordance with the decision of the shareholders' meeting in December to reduce its authorized capital. Purchase price is set at ₽13.02 per share. Applications for the buyback are accepted until February 03, 2024 inclusive.