State-owned microchip manufacturer Angstrem has topped the ranking of Russia\u2019s most loss-making companies, according to Forbes Russia.<\/p>\n
Media data show that in 2024, the company recorded a net loss of 236.3 billion rubles.<\/p>\n
The main reason for such losses was the recognition of obligations to its owner, state corporation VEB, amounting to 238.2 billion rubles. As a result, with revenues of only about 5 billion rubles, the company reported a net loss nearly 47 times greater than its income.<\/p>\n
Angstrem outpaced other major loss-makers, including Trust Bank (130.7 billion rubles), Rosseti (116.9 billion rubles), and the Moscow Metro (107.7 billion rubles). The total losses of the top 10 state companies reached 652.8 billion rubles, or 70% of the aggregate losses in the ranking.<\/p>\n
The story of Angstrem\u2019s multibillion-ruble losses, once owned by structures linked to former communications minister and presidential adviser Leonid Reiman, dates back to 2008. That year, the plant took out a \u20ac815 million loan from VEB to organize production of processors, smart cards, and electronic passports.<\/p>\n
However, the plant never became operational. By 2014, according to the Federal Tax Service, Angstrem had effectively lost the ability to conduct business. By January 2019, VEB had seized the plant\u2019s equipment and shares and filed for bankruptcy, with total claims reaching about \u20ac1.3 billion.<\/p>\n
Reiman distanced himself from the project, but faced no consequences. Moreover, his company Rutec received state support last summer and began building a new plant in the Sistema Special Economic Zone in Saransk.<\/p>\n
Investments are estimated at several billion rubles, with announced import-substitution projects including smartphones, computers, tablets, laptops, and telephone stations.<\/p>\n
Reiman\u2019s \u201cimport substitution\u201d initiatives have raised eyebrows: the so-called \u201cdomestic\u201d R-Phone for officials turned out to be a rebranded version of the Symphony Helio 80 from Bangladesh, but was sold at triple the price.<\/p>\n","protected":false},"featured_media":150361,"menu_order":0,"template":"","newscat":[9],"newstag":[],"issues":[],"class_list":["post-150360","news","type-news","status-publish","has-post-thumbnail","hentry","newscat-novosti"],"_links":{"self":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news\/150360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media\/150361"}],"wp:attachment":[{"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/media?parent=150360"}],"wp:term":[{"taxonomy":"newscat","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newscat?post=150360"},{"taxonomy":"newstag","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/newstag?post=150360"},{"taxonomy":"issues","embeddable":true,"href":"https:\/\/ldaily.ua\/en\/wp-json\/wp\/v2\/issues?post=150360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}