Moscow, Russia — JSC "RUSNANO", Russia's largest investment company in the field of nanotechnology, announced that the 2010 net profit of 3.6 billion rubles worth of assets — 118.9 billion rubles (specified income and asset predecessor — GC "Nanotechnologies").
Highlights for 2010:
In RUSNANO has received 439 requests for co-financing of projects (of April 1, 2008 to December 31, 2010 — 1884 requests);
The Supervisory Council of RUSNANO has approved for co-financing 44 projects with a total budget of 146 billion rubles, including co-financing from RUSNANO in the amount of 47.1 billion rubles (just in 2008-2010 approved 104 projects with a total budget of 347 billion rubles, including the company's share in the amount of 140.1 billion rubles);
As of December 31, 2010 RUSNANO has invested in projects 64.2 billion;
The main areas of investment: Solar energy and energy efficiency, nanostructured materials, medicine, biotechnology, engineering, metalworking, opto-and nano-electronics.
Deputy Chairman of the Board of RUSNANO Oleg Kiselyov said: "In 2010, profit RUSNANO formed mainly by the interest of temporarily free funds placed on deposit. Naturally, as the investment in the project company, the amount of deposits and interest paid are reduced.
Now according to the approved strategy, we are moving from the first to the second stage of development. This year, we should see a new source of income — dividends from the project companies, and a few years — income from our exit from the investment projects. In the coming period, these amounts will be small, so the reported profit of may fall further. However, after several years of profitability of business development will enable us to reach a common indicators for investment companies. For us it is much more important is the fact that the value of the company in 2010, has grown substantially. If income declined by 7.6 billion rubles, the value of fixed assets increased by 42.2 billion rubles. This clearly demonstrates the effectiveness of our investments. "