State Recouped Investments, Rusnano’s Mission Completed - Chubais
OREANDA-NEWS. In ten years, enterprises created with the participation of «Rusnano» paid 132.4 billion rubles to the state budget in form of taxes, said the chairman of the management of «Rusnano», Anatoly Chubais, during a press conference.
In total, 97 enterprises were built with the participation of «Rusnano». According to Chubais, tax deductions of portfolio companies allowed the government to return the money invested in the creation of «Rusnano» itself. In 2007, this contribution amounted to 132.4 billion rubles, he said. In 2018, «Rusnano» received a clear profit which was record for the company - 5.6 billion rubles, Chubais said at the meeting with Russian President Vladimir Putin.
«Rusnano» also reported on the exit from the stock of the companies in which it invested. In 2018, the Institute for Development sold 15 portfolio companies, including the manufacturer of solar cells “Hevel”, the federal network of diagnostic centers for computed tomography “PET Technology” and the American manufacturer of WiFi solutions “Quantenna Communications”. The total yield of outputs in 2018 exceeded 18%.
According to Anatoly Chubais, in total, by the end of 2018, «Rusnano» sold a share in 50 projects, the average yield on all these investments was 16.4%.
“From this year, all state expenses on the creation of «Rusnano» are returned. What we were created for, our mission is fully completed and will be fulfilled further,” Chubais stated.
He also recalled that at the end of 2018, the company's expenses for research and development (R & D) amounted to 42.5 billion rubles, which is 50% of the annual funding of the Russian Academy of Sciences. “And this is only the beginning,” chairman added.
The total export volume of «Rusnano» portfolio companies at the end of the year amounted to 68 billion rubles and in 2019-2020 the growth will continue.
“Accordingly, once there is a profit, we are ready to pay dividends to the state. And taking into consideration the amount of profit, we plan to pay about 550 million rubles to the budget as our dividends,” Chubais told to the President of Russian Federation.
JSC «Rusnano» was established in March 2011 through the reorganization of the state corporation “Russian Corporation of Nanotechnologies”, founded in 2007. In 2013, the management company «Rusnano» was established, which manages the assets of JSC «Rusnano» and nanotechnology investment funds created with the involvement of private investors.