Rusnano came out of the loss zone

Rusnano at the end of 2014 reached a net profit of 8 billion rubles
with a 16% increase in income and a 36% increase in the value of the portfolio%

Rusnano Press Center

The Rusnano Group, consisting of OAO Rusnano and its consolidated subsidiaries (including Rusnano Management Company LLC), announces financial results for 2014 in accordance with International Financial Reporting Standards (IFRS).

Instead of a loss a year earlier, Rusnano Group recorded a net profit of 8.2 billion rubles. Accordingly, the company's capital increased by the same amount. The value of Rusnano's investment portfolio increased by 36% and exceeded 112 billion rubles. The value of assets under the Group's management increased by 10% and reached 192 billion rubles.

The positive dynamics of the portfolio is well demonstrated by the fact that at the end of 2014 Rusnano was able to achieve a net profit from financial assets in the amount of 0.5 billion rubles against a loss of 29.4 billion rubles for the previous period. This indicator, in particular, includes profit from changes in the fair value of equity instruments, which amounted to 3.2 billion rubles, whereas in 2013 Rusnano's loss on this indicator amounted to 18.5 billion rubles. The result indicates a steady trend that allows to compensate for the loss at an accelerated pace due to the growth of the portfolio value due to the increase in the efficiency of the Group's asset management by Rusnano Management Company and the improvement of the development indicators of portfolio companies.

According to the results of 2014, the Group's revenues increased by 16% and amounted to 6.8 billion rubles. At the same time, the article "income" according to the IFRS methodology does not reflect another consolidated source of income — from the sale of equity instruments owned by Rusnano, which allowed in the past year to receive 3.3 billion rubles of cash after leaving the capital of portfolio companies with a yield of up to 20-25%. Although the peak of revenues from this source, according to Rusnano's long-term business plan, will be in 2017-2018, when a significant part of portfolio projects will reach the required level of maturity, and the exit from investments will give the Group the maximum effect.

The growth rate of sales of nanoproducts of Rusnano portfolio companies in 2014 exceeded the planned one by more than twice and reached 227 billion rubles.

At the same time, Rusnano continues to fulfill its priority obligations as a key national institute for the development of promising nanotechnology industries. In 2014, the Group invested almost 2 times more in the development of portfolio companies than a year earlier — 23.8 billion rubles.

The volume of Rusnano's operating expenses in 2014 remained at the level of the previous period and amounted to 5.6 billion rubles.

Portal "Eternal youth" http://vechnayamolodost.ru24.03.2015