Rusnano narrows IFRS net loss 67% to 4.4 bln rubles
MOSCOW. Aug 29 (Interfax) - The Rusnano group narrowed consolidated losses 67% to 4.4 billion rubles in H1 2017, according to unaudited IFRS financials.
A number of successful project withdrawals contributed to the improvement, a Rusnano representative said, citing the sale of stakes in NIR and Mikron. Income from investment activity, including revenue from project withdrawals, totaled 2.4 billion rubles, 6% more than in H1 2016.
Long-term liabilities came to 49.8 billion rubles as of the end of June, compared with 48.5 billion rubles as of the end of 2016. Short-term liabilities amounted to 41.6 billion rubles compared with 45.9 billion rubles.
Rusnano assets totaled 179.3 billion rubles as of June 30, nearly 8% less than 194 billion rubles as of December 31, 2016.
Rusnano chief Anatoly Chubais said previously that the financial plan assumes losses until 2017-2018, when the peak of divestment from portfolio companies is expected.
