VGTRK became unprofitable for the first time since 2000

The VGTRK holding ended 2014 with a net loss of 2.8 billion rubles. It became unprofitable for the first time since 2000. For comparison, in 2013 the company’s net profit amounted to 29 million rubles.

VGTRK's revenue in 2014 increased by 2.2 percent to 31.9 billion rubles. At the same time, the company's expenses increased by 5.8 percent to 52.9 billion.

Other income (VGTRK most likely includes subsidies from the state budget in this line) remained at the same level (20.8 billion rubles).

Vedomosti

• In April 2015, the financial report was published by Channel One. At the end of 2014, its net loss amounted to more than 938 million rubles. A year earlier, the channel’s loss reached 1.77 billion rubles.
• The Gazprom Media holding, which owns the NTV television channel, also suffered losses in 2014 - they amounted to about two billion rubles. A year earlier, the holding made a profit of 8.6 billion.
• On July 13, Russian President Vladimir Putin approved amendments to the law on the federal budget, according to which VGTRK and Channel One will receive additional subsidies in the amount of seven billion rubles (3.5 billion each).