Translation companies have been ranked in the below table based on their reported revenue in 2014. The results have been compiled from data collected in a survey carried out during March and April 2015. Participants included over 140 companies all in all and almost 100 companies from Russia, who together account for 7% of the total number of translation companies based in Russia, and over 60% of the industry’s financial revenue. Almost every medium or large translation provider headquartered in Russia has been identified in this research.

  — data provided in the survey has been verified by access to financial or management accounting documents.

If you spot an error, or would like to add information to the table, please contact me @ konstantin@translationrating.ru


Contents

  1. Overview.
  2. Ranking methodology.
  3. How we check and verify data.
  4. Conclusions: market growth rate and key trends.
  5. Market volume estimate.

Previous ranking: 2013


RankCompany nameTurnover 2014, RURGrowth rate in RURTurnover in USD, at 38.6 RUR/$HeadquartersTop Sectors
1Translink490.77 m-10%$12.71 mMoscowPublic, Energy, Defense
2EGO Translating457 m7%$11.83 mSaint PetersburgDefense, Energy, Events
3-5ABBYY Language ServicesN/A45%over $8 mMoscowOil&Gas, Software
3-5Janus WorldwideN/AN/Aover $8 mMoscowSoftware, MLVs, Life Sciences*
3-5LogrusN/AN/Aover $8 mMoscowSoftware&Games, Manufacturing, Electronics*
6TLS Company 307 m10%$7.95 mMoscowNuclear, Energy, Finance&Legal
7NeotechN/A15%$6 - $8 mMoscowOil&Gas, Software, Automotive*
8Trans-tech202.5 m15%$5.246 mSaint PetersburgDefense, Oil&Gas
9Marines 200.56 m-10%$5.2 mSaint PetersburgDefense, Manufacturing, Public
10Traktat198 m10%$5.12 mMoscowRetail, Public, Finance & Legal
11ROID Translation AgencyN/AN/A$4 - $6 mMoscowLife Sciences, Finance&Legal*
12Palex147 m10%$3.8 mTomskSoftware, Consumer Electronics, Life Sciences
13ProfPerevod 122 m27%$3.16 mMoscowTransport&Aviation, Public, Telecom
14AG .translate117 m9%$3.03 mMoscowDefense, Finance&Legal, Telecom
15Literra Translations 115.26 m59%$3 mSaint PetersburgDefense*
16AKM Translations105 m13%$2.72 mMoscowPublic, Energy, Finance&Legal
17Prima Vista102.29 m39%$2.65 mChelyabinskOil&Gas, Industrial, Energy
18Nedra Translation Agency 101 m15%$2.62 mMoscowOil&Gas, Events, Energy
19All Correct Group 92.2 m1%$2.43 mSamaraSoftware&Games
20Tolmach 78 m-1%$2.02 mMoscowOil&Gas, Finance&Legal, Life Sciences
21-23MedconsultN/AN/A$2 - $4 mMoscowLife Sciences*
21-23EffectiffN/A10%$2 - $4 mMoscowFinance&Legal, Events, Retail
21-23MegatextN/A-5%$2 - $4 mMoscowRetail*
24ProfLingva  72 m90%$1.86 mMoscowFinance&Legal, Oil&Gas, Retail
25Alphabet Translation Center72 m14%$1.86 mSaint PetersburgEnergy, Automotive, Finance&Legal
26Transvertum62.9 m60%$1.63 mMoscowOil&Gas, Transport&Aviation, Industrial
27Exprimo60 m10%$1.55 mMoscowPublic, Oil&Gas, Transport&Aviation
28ProLing46 m23%$1.19 mMoscowRetail, Events
29iTrex42.4 m-16.8%$1.1 mMoscowFinance&Legal, Industrial, Life Sciences
30London-Moscow  42 m20%$1.08 mMoscowFinance&Legal, Oil&Gas, Energy
31Med.Solution39.75 m14%$1.03 mMoscowLife Sciences
32-36ITIN/AN/A$1 - $2 mMoscowSoftware&Games, Lifesciences, Finance&Legal
32-36FonetixN/A5%$1 - $2 mMoscowAutomotive, Industrial*
32-36Moscow Translation AgencyN/A17%$1 - $2 mMoscowFinance&Legal*
32-36Alean / Big AppleN/A16%$1 - $2 mKalugaRetail, Education, Automotive
32-36BenevoxN/A7%$1 - $2 mMoscowAutomotive, Transport&Aviation, Industrial
37Corn Plus  35.6 m13%$0.92 mMoscowNuclear energy
38Pereveod Russia Translation Agency32 m5%$0.83 mSaint PetersburgFinance&Legal, Oil&Gas, Industrial
39Star Spb31 m15%$0.8 mSaint PetersburgAutomotive, Industrial, Electronics
40Perewod.ru30 m-60%$0.77 mMoscowOil&Gas, Automotive, Life Sciences
41Lingvo Service30 m80%$0.77 mRostovPublic, Energy, Events
42Delovoy yazyk30 m-10%$0.77 mMoscowDefense, Oil&Gas
43Ediniy Tsentr Sudebnykh Perevodov 30 m17%$0.77 mSaint PetersburgPublic
44Worldwide Translation Services 25.1 m-7%$0.65 mMoscow
45-46The Open World


25 m11%$0.65 mRostovPublic, Retail
45-46Avanta Translating25 m45%$0.65 mChelyabinskIndustrial, Energy, Retail
47Eclectic Translations22 m0%$0.57 mSaint PetersburgSubtitling, Movie & Cinema
48Apriori21.7 m0%$0.56 mMoscowLife Sciences, Events
49Transcript19.3 m20%0.5 mSaint PetersburgOil&Gas, Energy, Industrial
50-56Yes We CanN/A80%$0.5 m - $1 mSaint PetersburgIndustrial, Finance&Legal, Life Sciences
50-56Perevod UralN/A3%$0.5 m - $1 m YekaterinburgIndustrial, Events
50-56AngiraN/A15%$0.5 m - $1 mMoscowFinance&Legal
50-56Levsha Localization StudioN/A-10%$0.5 m - $1 mMoscowSoftware&Games
50-56Golden HindN/A0$0.5 m - $1 mMoscowOil&Gas
50-56KekkerN/A200%$0.5 m - $1 mMoscowOil&Gas, Energy
50-56Lingvo ProN/A50%$0.5 m - $1 mMoscowFinance&Legal, Oil&Gas, Life Sciences
57Alba Translating19.16 mN/A$0.49 mNizhni NovgorodOil&Gas, Life Sciences, Events
58Norma TM19 m20%$0.49 mMoscow
59Translit18.5 m16%$0.48 mYekaterinburgPublic, Retail, Metallurgy
60Nowitex16.13 m-45%$0.417 mMoscow
61Remarka15.44 mN/A$0.4 mKrasnodarRetail, Oil&Gas
62Perevodim.pro15 m25%$0.38 mSaint PetersburgIndustrial, Life Sciences
63Abico Global15 m-15%$0.38 mSaint PetersburgFinancial&Legal, Life Sciences
64Alba Longa / Lingua Contact13 m10%$0.33 mSaint PetersburgIndustrial, Electronics, Oil&Gas
65Koine Translation Agency11.7 m51%$0.303 mMoscow RegionRetail
66EngProfi11.4 m-35%$0.29 mIzhevskMLVs
67-73Tran.suN/A200%$0.25 - $0.5 mTomskEnergy, Industrial, Software
67-73DatabridgeN/A32%$0.25 - $0.5 mIvanovoMLVs
67-73OST TranslateN/A10%$0.25 - $0.5 mRostovFinancial&Legal, Life Sciences, Retail
67-73UnitransN/A-10%$0.25 - $0.5 mUlyanovskIndustrial, Oil&Gas
67-73EnRusN/A10%$0.25 - $0.5 mMoscowSoftware, Financial&Legal
67-73ArgonautN/A19%$0.25 - $0.5 mSaint PetersburgTelecom
67-73Planeta ServiceN/A36%$0.25 - $0.5 mSevastopol
74Freelance Project Management9 m40%$0.23 mTaganrog
75Business Solutions7.3 mN/A$0.19 mVoronezhAviation, Financial&Legal
76Links Dynamics7 m19%$0.18 mPermLife Sciences, Retail, Oil&Gas
77Lingua Master7 m8%$0.18 mMoscowFinancial&Legal, Retail, Telecom
78Passo Avanti7 m9%$0.18 mYekaterinburg
79Nash Perevod" 6 m-15%$0.16 mDubna, Moscow RegionPublic
80Itb First5.8 m0$0.15 mKolomnaFinancial&Legal, Industrial
81Lexicon5.2 m10%$0.135 mMoscowChemistry, Oil&Gas, Financial&Legal, Retail
82Monoton 4.3 m33%$0.111 mNovosibirskRetail, Nuclear
83Your Translation Company2.95 m15%$0.08 mRostovFinancial&Legal, Retail
84EuroSpace2.65 m6%$0.07 mYekaterinburg
85Sfera2.4 m61%$0.06 mSaint PetersburgIndustrial
86Inter Vostok 1.5 m$0.038 mKazanAsian languages
87Invariant  0.63 m30%$0.015 mMoscowIndustrial, Telecom
88-98Libra-KN/A-10%under $0.250 mMoscow
88-98VEBBERN/AN/Aunder $0.250 mMoscowLife Sciences, Industrial
88-98AlperiyaN/A0under $0.250 mMoscow
88-98BK ConsultN/AN/Aunder $0.250 mMoscowIndustrial, Construction
88-98AdvanceN/A-3%under $0.250 mBalashikha
88-98Even TranslationsN/A25%under $0.250 mNovosibirsk
88-98MagditransN/A5%under $0.250 mKrasnodarDefense, Public, Oil&Gas
88-98Moderato ProN/A0%under $0.250 mYekaterinburgIndustrial
88-98K Vashim UslugamN/AN/Aunder $0.250 mMoscow
88-98DiplomatN/AN/Aunder $0.250 mOmsk
88-98LexiconN/A60%under $0.250 mMoscowRetail
added after survey closediWords28 m15 %$0.725 mMoscowLegal

* These companies did not provide detailed sector data, and we added our own conjectures instead.


Ranking 2015 — Overview

  1. The survey was open to companies from Russia, Ukraine, Belarus, Kazakhstan and other CIS countries. We received over 140 responses, including 94 qualified responses from companies headquartered in Russia. 21% of companies were new to the survey, while 79% completed the survey in, or prior to, 2013.
  2. Financial data and documents are considered very sensitive information in Russia. Nevertheless, 13 companies have agreed to provide documents to verify the data submitted in the survey. We would like to express our thanks to the following participants: TLS, Tolmach, Nedra, Profperevod, Invariant, Literra, London-Moscow, Worldwide Translation Services, Nash Perevod, Proflingva, Monoton, Ediniy Tsentr Sudebnykh Perevodov and Marines. Their effort helps make the Russian market more transparent and data more credible.

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Ranking methodology

  1. The exchange rate fluctuated heavily at the end of 2014 and in the beginning of 2015. To avoid confusion and manipulation, we used a fixed exchange rate of 38.6 roubles per USD. This figure is an average of the exchange rate used for every trading day of 2014.
  2. Most Russian companies have multiple legal bodies to run their business (from 2-3 to 10-11). The revenue figures in the table represent an aggregated value for all legal bodies. Only actual revenue has been counted for purposes of this report. Thus, remuneration for 2014 contracts paid in 2015 has been excluded.
  3. The revenue comprises any services that the company provided, including voiceover, DTP, foreign language training, selling software, etc.
  • Some companies refused to provide actual revenue figures, but agreed to indicate their size by marking a revenue category. They are identified by N/A for roubles in the table. They have been ranked based on the lower value of the category for example $1 m for a category of $1-2 m.

  • Data Verification

    We have used the following methods to verify that the companies listed exist, and are potentially capable of producing the revenue declared in the survey. These methods were:

    • Competitive analysis.
    • Visiting headquarters and visually checking for assets.
    • Comparing data provided with the official data in the legal body register (EGRUL/ USRLE).

    Based on this, we can affirm that all medium to large providers in the list do indeed exist and have assets, and are potentially capable of producing the revenue declared in the survey. There are no virtual or fake companies in the list. However, we cannot guarantee that the data provided by companies is 100% accurate.


    Market Grown by 16% in RUR, Declined by 30% in USD

    Some of the factors that may have contributed to growth include:

    • The devaluation of the rouble has turned a stable volume paid in USD into 21% growth rate in roubles. However, rouble inflation in 2014 was 11.4%.
    • Growing companies were more willing to participate in the ranking, while those whose business declined opted not to provide data.
    • The demand for translations typically increases at the early stages of economic slowdown, as businesses typically hire foreign consultants and the capital flees abroad.
    • The downturn of the economy (GDP growth fell to 0.6%) started affecting the translation industry at the end of 2014, and will be more clearly seen in 2015. 60% of respondents have stated that their growth in the first quarter of 2015 either nil or negative.

    While the leading companies grew by 16% on average in roubles, when counting in USD the total revenue declined by 5% if we apply the average exchange rate, or by 29% if we apply the current exchange rate for May 2015.

    Several companies in the list feature very high growth rates. Managers explain the growth by sales and process optimization. However, it is highly probable that most of the extra volume comes from a small number of exclusive contracts, such as:

    • Sochi 2014 Olympic Games.
    • Gazprom Neftkhim Salavat petroleum plant construction contract.
    • Nuclear power plant construction under Rosatom.
    • Mistral carriers technical translations and personnel training.

    In many cases, growth can be explained by companies adapting their sales to the public sector and corporate tenders. The amount of work sourced through auctions has steadily increased since 2009 when all public procurement in Russia became auction-based. Translation companies now have designated personnel to monitor auctions, access to online auction platforms, legal entities that fit specific requirements of various clients, documentation templates, etc to quickly and efficiently respond to RFPs.


    Market volume estimate — $274.2 m

    According to our estimate based on official registry data, there are some 1500 translation companies in Russia. Based on our research from 2014, a typical company with annual turnover under $1 million earns 1,05 million RUR, or $27,200 per employee per year. Based on this and a speculation that there are 3 employees on average in the remaining ~1400 companies that didn’t take part in the survey, we arrived at the following estimate:

    Survey participants revenue: $160 m (at 38.6 rur per usd exchange rate)
    Other companies: 1400 * 3 * $27,200 = $114,2 m
    Total: $274.2 m

    It is hard to provide a more precise estimate since translation companies in Russia are not obligated to disclose their official financial data to public. Some 700 firms do, with an annual turnover of only $112 m.

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