RUSNANO’s Profit More Than Doubled for the Second Consecutive Year

23 March 2016

RUSNANO Group consisting of JSC RUSNANO and its consolidated subsidiaries (including RUSNANO MC LLC) announced its 2015 financial performance in accordance with International Financial Reporting Standards (IFRS) confirmed by an independent auditor.

RUSNANO Group achieved a total comprehensive income of RUB 17 bln. The equity of the Group increased by the same amount.

Total Comprehensive Income

Total Comprehensive Income

The financial assets value (RUSNANO’s portfolio) rose by 23 persent to over RUB 138 bln. In particular, the fair value of the investment portfolio went up by RUB 16.8 bln and its substantial growth reached 53 persent compared to 10 persent a year earlier. At the same time, the effect of changes in foreign exchange rates decreased from 90 persent to 47 persent.

In view of the specific character of investment cycles, the increase in the fair value of the portfolio is the result of the company’s performance not only in 2015, but also for the previous five years.

Value of the Investment Portfolio

Value of the Investment Portfolio

Group’s total assets value increased by 18.6 persent and reached RUB 227.7 bln.

In 2015, Group’s income rose by 6 persent and amounted to RUB 7.2 bln. RUSNANO received RUB 6.9 bln from its portfolio companies; the amount includes income from sale of the shares in their capital and return of the granted loans.

RUSNANO Group's Income

RUSNANO Group’s Income

Herewith RUSNANO continues to fulfill its first priority commitments of a key national institution for the development of advanced nanotechnology industries. In 2015, the Group invested RUB 15.8 bln in the development of its portfolio companies. The observed investment reduction compared to 2014 is due to the investment facility improvements implemented by RUSNANO, the end of the active stage of the primary projects financing and the company’s transition to direct investment funds approach.

The amount of operating expenses of RUSNANO remained at the previous period’s level of RUB 5.6 bln. Along with the increase in the portfolio’s fair value, this fact directly indicates the efficiency of the management.

In 2015, RUSNANO fulfilled its obligations on the repayment of borrowings (under state guarantees) to the creditors (RUB 30.9 bln in total, including those on direct amount of borrowings and related interests).

Reference

RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of shares of JSC RUSNANO are owned by the state. Thanks to investments RUSNANO currently opened 73 factories and R&D centers in 28 regions of Russia.

Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company. Anatoly Chubais is the Chairman of its Executive Board.

Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.