RUSNANO doubled the profit through the sale of assets

Group net profit “RUSNANO” (JSC “RUSNANO” and the criminal code “Rosnano”) rose by the end of 2015, more than doubling from RUB 8.2 billion up to 16.82 billion rubles, said the Chairman of the Board of UK “RUSNANO” Anatoly Chubais. He said that the Corporation is the second year in a row “has become profitable”. “This does not mean that we continue each year we will get 17 billion rubles ahead of a difficult situation”, — said Chubais.

The main profit drivers — increase in fair value of the Fund portfolio and sell assets, Chubais explained. Total assets of the group grew by 18.6% to 227,7 bn and evaluation of the investment portfolio increased by 23% to more than 138 billion rubles including 16.8 billion rubles has increased the value of the investment portfolio. The effect of exchange rate differences decreased from 90% to 47%, said Chubais.

From the sale of part of its assets “Rosnano” in 2015 has been reached RUB 3.7 billion against 2.6 billion rubles a year earlier. The Chapter “RUSNANO” stressed that the Corporation is in the eighth year of the investment cycle, therefore, the increase in the number of “exits” of portfolio companies is a natural process.

The revenues of the Corporation “Rosnano” by the end of 2015 amounted to RUB 7.2 billion, which is 6% higher than a year earlier. The main income of the Corporation brought operations on placement of temporary free funds of the company, said the representative of the Fund.

JSC RUSNANO was established in March 2011 as a result of reorganization of “Russian Corporation of nanotechnologies”. 100% of shares of JSC “RUSNANO” owned by the state. In Russia there are 68 factories and development centers, in equity participation of “RUSNANO”.