#News

«Verstka»*: Drone manufacturer «Geoscan» achieved record profit after Putin's daughter's fund acquired a stake

2025.04.01

The company's net profit increased 6 times and amounted to 1.27 billion rubles

The company «Geoscan», engaged in drone manufacturing, increased its revenue in 2024 by 3.6 times to a record 4.7 billion rubles. This information was found by the publication in the State Information Resource of Accounting Reporting (BFO). The company's net profit grew even more — almost 6.2 times. Over the year, it amounted to 1.27 billion rubles. 10% of the company since the end of 2023 came under the ownership of the fund «National Intellectual Development» (NIR), headed by Putin's daughter Katerina Tikhonova. Immediately after this, the company increased its purchases of sanctioned electronic boards and semiconductors through Belarus several times.

«Geoscan» is the largest manufacturer of civil aviation drones in Russia, as well as software for photogrammetric data processing. Since July 2023, the company has been under Ukrainian sanctions due to the fact that «the company's products are integrated into the production chain of goods and services for military and/or dual-use purposes».

Meanwhile, the fund «National Intellectual Development» for the first time did not disclose its financial statements, with BFO only providing data on the fund's balance sheet in 2024: it increased by 625 million rubles and reached 4.46 billion rubles, learned «Verstka». Information on revenue and net profit for 2024 was not disclosed by NIR. The previous year, revenue amounted to 1.1 billion rubles, and net profit was 234 million rubles.

* Recognized in Russia as a «foreign agent».

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