Loss-making Gazprom Now Produces Refrigerators

The company is trying to make money on home appliances.

The Bosch home appliances factory near St. Petersburg, which is now under the management of Gazprom's subsidiary Gazprom Domestic Systems, has resumed production of refrigerators in May 2025, RBC writes. According to the company's financial statements, net profit amounted to 192.5 million rubles against a loss of 1.7 billion rubles a year earlier. Revenue increased from 100 million to 422.4 million rubles. By the end of 2025, the enterprise has established production of more than 30 models of refrigerators. The plant has signed more than 20 contracts for product sales. The first buyers were large Russian retailers M.Video-Eldorado and DNS, as well as household appliances seller Weissgauff.

The enterprise produced more than 30 thousand refrigerators. In 2026, it plans to increase production to 100 thousand units, and in 2027 - up to 220 thousand. In parallel, the company is preparing to organize the production of washing machines, said a representative of Gazprom Domestic Systems.

Bosch stopped the production of household appliances in Russia in 2022 and in 2024 planned to sell the company, but the deal did not take place. In April of that year, Putin signed a decree that placed the Russian subsidiaries of home appliance manufacturers Ariston and Bosch under the temporary management of Gazprom Domestic Systems. In March 2025, Ariston Holding N.V. regained control of its Russian asset, Ariston Thermo Rus LLC. The Bosch plant remains under Gazprom's management, although the German concern is 100 percent owned by the company.

The new business is developing amid problems in Gazprom's core business, the The Moscow Times noted. Having pumped gas to dozens of countries before the war, Gazprom had just four far-flung customers at the start of 2026: Hungary, Slovakia, Turkey and China. Pipeline gas exports from Russia are at their lowest levels since the second half of the 1980s for the third year in a row: 60 billion cubic meters in 2023, 81 billion cubic meters in 2024 and 78 billion cubic meters in 2025, according to BCS estimates. Compared to pre-war peaks (200 billion cubic meters in 2018), Gazprom's exports have almost tripled. And supplies to Europe, once the largest sales market, have fallen back to the levels of the early 1970s: just 18 billion cubic meters last year. China increased its gas purchases to a record 38.8 billion cubic meters through the Power of Siberia pipeline, but these volumes compensate for only one-fifth of its former exports to the European Union.

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