The Russian division of Cisco finished 2022 with a loss of 5.5 billion rubles

Russian legal entities of an American company Cisco, which left the Russian market, ended 2022 with a loss of 5.5 billion rubles. About it writes CNews publication with reference to the data of the Federal Tax Service, collected according to Russian Accounting Standards.

At the end of 2022, the legal entity Cisco Solutions LLC reduced its revenue by 84% to RUB 5.15 billion. 2021 ended for the company with a profit of 1.16 billion rubles.

The revenue of another legal entity of the company, Cisco Systems LLC, fell by 76% and amounted to 441.2 million rubles, while at the end of 2021 it amounted to 1.85 billion rubles.

Cisco’s loss at the end of 2022 amounted to 5.47 billion rubles, although in 2021 the company earned more than 1 billion rubles in Russia.

April 5, 2023 Cisco physically destroyed equipment for 1.86 billion rubles. due to the termination of activities in Russia. Operational spare parts, which were purchased under an agreement with the Dutch structure – Cisco Systems International BV, as well as IT equipment, were subject to destruction. In addition, the property of the Russian division of Cisco worth 1 million rubles was destroyed, including vehicles, office furniture, appliances and demonstration equipment.

March 4, 2022 Cisco suspended all business operations in Russia, and on June 23 finally left the markets of Russia and Belarus.