The Russian "daughter" of Apple has reduced its activities in Russia by 78% in 2022. Such data are contained in the published financial statements of Apple Rus LLC.
The company's revenue decreased by 300 billion rubles to 85.4 billion rubles. The company ended the year with a net loss of 6.5 billion rubles.
In March 2022, the company announced the suspension of most of its commercial activities in Russia, including sales through distributors and online sales in Russia. This had a significant negative impact on financial results, the report says. The decline in sales affected the company's expenses. Thus, advertising expenses decreased by almost 2 billion rubles. The company's staff decreased by more than 100 people and, accordingly, labor costs decreased to 0.9 billion rubles from 1.2 billion rubles.
Despite the negative financial results, the company remains in Russia and counts on the support of the owners. In 2022, related parties helped Apple Rus to get out of the crisis. So in March 2022, Apple Distribution International Ltd., which owns 99.5% of the company, forgave the debt of a Russian daughter in the amount of almost 10 billion rubles.
Apple Rus LLC is controlled by Apple Inc. (Apple Inc.), which is the ultimate parent company of the Apple Group.
Apple is an American corporation, a manufacturer of personal and tablet computers, audio players, phones, and software. The headquarters is in Cupertino, California. In 2007, the Russian representative office of the company was established.
