Rusnano: our losses are not losses at all!

Rusnano Press Service statement

Recently, a number of media outlets have published materials about Rusnano's multibillion-dollar losses for 2012. We consider it necessary to emphasize that this information does not correspond to reality.

In accordance with the requirements of Russian accounting standards, JSC Rusnano has formed a reserve for a possible reduction in the value of assets of a number of projects and included this indicator in the financial statements for 2012. The published figure (21.8 billion rubles) is not a loss, but reflects possible investment risks.

The presence of such risks is natural for investment projects. According to the legislation, this fact is taken into account when assessing the effectiveness of spending budget funds to support innovation.

Recall that the main tool for evaluating investment funds is the analysis of the total portfolio of projects. Thus, at the end of 2012, the revenue of Rusnano portfolio companies from the sale of nanotechnology products with a plan of 10 billion rubles amounted to 23.4 billion rubles. 33 billion rubles were invested in projects last year alone (the plan is 15 billion rubles). The same amount of funds was invested by private business.

During the five years of Rusnano's activity, 44 modern production facilities were launched throughout Russia – from St. Petersburg to Yakutsk. Sales of nanotechnology products of Rusnano design companies increased from 1 billion rubles in 2010 to 23 billion rubles in 2012.

Portal "Eternal youth" http://vechnayamolodost.ru23.04.2013