Appendices
5.2

Prepared under international financial reporting standards

Consolidated Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2017.
(in thousands of Russian Rubles, unless otherwise stated)

  Notes Year ended 31 December 2017 Year ended 31 December 2016
Revenue 7 81,162,309 74,725,582
Operating expenses 9 (76,787,252) (72,586,733)
Net other revenues 8 1,715,144 1,117,872
Result from operating activities   6,090,201 3,256,721
Finance income 11 442,736 231,409
Finance costs 11 (1,245,336) (1,118,741)
Net finance expenses   (802,600) (887,332)
Profit before income tax   5,287,601 2,369,389
Income tax 12 (1,132,230) (1,037,431)
Profit for the year   4,155,371 1,331,958
Other comprehensive income      
Items that may be reclassified subsequently to profit or loss      
Change in fair value of available-for-sale assets 16 747,885 1,023,545
Income tax expense relating to items that may be reclassified to profit or loss 17 (148,230) (204,709)
Total items that may be reclassified subsequently to profit or loss   599,655 818,836
Items that will not be reclassified subsequently to profit or loss      
Remeasurement of net defined benefit liability 25 (83,786) (153,286)
Income tax expense relating to items that may not be reclassified subsequently to profit or loss 17 4,170 30,657
Total items that may not be reclassified subsequently to profit or loss   (79,616) (122,629)
Other comprehensive income for the reported period, net of income tax   520,039 696,207
Total comprehensive income for the reported period   4,675,410 2,028,165
Profit for the year, attributable to:      
Shareholders of the Company   4,098,341 1,358,830
Non-controlling interest   57,030 (26,872)
Total comprehensive income for the year, attributable to:      
Shareholders of the Company   4,629,810 2,055,386
Non-controlling interest   45,600 (27,221)
Earnings per share      
Basic and deluted earnings per common share (RUB) 22 0.0469 0.0155
 

Consolidated statement of financial position as of 31 December 2017
(in thousands of Russian Rubles, unless otherwise stated)

  Notes 31 December 2017 31 December 2016
ASSETS      
Non-current assets      
Property, plant and equipment 13 61,487,787 60,515,637
Investment property 14 156,568 100,241
Intangible assets 15 525,446 286,786
Trade and other receivables 19 50,073 49,991
Assets related to the employee benefit 25 97,815 149,367
Financial investments 16 2,223,484 1,475,600
Deferred tax assets 17 224,204 304,070
Total non-current assets   64,765,377 62,881,692
Current assets      
Inventories 18 819,276 784,403
Income tax receivable   193,737 106,938
Trade and other receivables 19 9,683,321 10,521,249
Cash and cash equivalents 20 1,463,774 1,270,720
Total current assets   12,160,108 12,683,310
TOTAL ASSETS   76,925,485 75,565,002
EQUITY AND LIABILITIES      
Equity      
Share capital 21 8,743,049 8,743,049
Other reserves   (84,364) (611,890)
Retained earnings   36,729,337 33,356,865
Total equity attributable to shareholders of the Company   45,388,022 41,488,024
Non-controlling interest   676,154 633,171
TOTAL EQUITY   46,064,176 42,121,195
Non-current liabilities      
Loans and borrowings 23 11,698,569 12,248,215
Trade and other payables 26 1,024,875 801,741
Employee benefit liabilities 25 2,961,151 2,772,916
Deferred tax liabilities 17 3,110,932 3,411,751
Total non-current liabilities   18,795,527 19,234,623
Current liabilities      
Loans and borrowings 23 202,205 213,432
Trade and other payables 26 9,046,182 10,438,655
Provisions 27 2,811,245 3,311,970
Income tax payable   6,150 245,127
Total current liabilities   12,065,782 14,209,184
TOTAL LIABILITIES   30,861,309 33,443,807
TOTAL EQUITY AND LIABILITIES   76,925,485 75,565,002
 

Consolidated statement of cash flows for the year ended 31 December 2017
(in thousands of Russian Rubles, unless otherwise stated)

  Notes Year ended 31 December 2017 Year ended 31 December 2016
OPERATING ACTIVITIES      
Profit /(loss) for the period   4,155,371 1,331,958
Adjustments:      
Depreciation of property, plant and equipment and intangible assets 9 6,135,361 6,008,928
Impairment/( impairment reversal) of property, plant and equipment 9 99,091 1,147,103
Finance costs 11 1,245,336 1,118,741
Finance income 11 (442,736) (231,409)
Loss/(income) on disposal of property, plant and equipment 98,993 139,042
Impairment of receivables 9 789,001 (459,219)
Write-off of bad debt   32,842 19,593
Write-off of accounts payable   (7,489) (32,294)
Income from donated property, plant and equipment   (91,976) (56,311)
Other non-cash transactions   90,443 (119,310)
Income tax (income)/expenses   1,132,230 1,037,431
Cash flow from operations before changes in working capital and reserves   13,236,467 9,904,253
Changes in working capital:      
Changes in taxes payable other than income tax   (110,837) 264,997
Changes in trade and other receivables (net of impairment provision)   (2,190,760) 919,535
Changes in financial assets related to the employee benefits   51,552 45,541
Change in inventories (net of provision for impairment of inventories)   (49,118) (74,635)
Changes in trade and other payables   329,663 (3,082,271)
Changes in employee benefit liabilities   (106,170) (116,164)
Changes in provisions   (500,725) 1,518,896
Cash flows from operations before income tax and interest paid   10,660,072 9,380,152
Income tax paid   (1,823,018) (648,281)
Interest paid   (1,165,727) (1,101,935)
Net cash flows from operating activities   7,671,327 7,629,936
INVESTING ACTIVITIES      
Acquisition of property, plant and equipment and intangible assets   (6,537,391) (6,736,131)
Proceeds from disposal of property, plant and equipment and intangible assets   8,244 11,983
Loans issued   - (519,227)
Proceeds from repayment of loans issued   36,775 509,360
Interest received   122,294 190,781
Dividends received   169,873 8
Net cash flows from investing activities   (6,200,205) (6,543,226)
FINANCING ACTIVITIES      
Received loans and borrowings   24,851,530 22,315,732
Repayment of loans and borrowings   (25,401,176) (25,161,809)
Dividends paid   (728,422) (1,261,285)
Net cash flows from financing activities   (1,278,068) (4,107,362)
Net increase (decrease) in cash and cash equivalents   193,054 (3,020,652)
Cash and cash equivalents at the beginning of the reported period   1,270,720 4,291,372
Cash and cash equivalents at the end of the reported period 20 1,463,774 1,270,720

Please, visit IR Portal at the official web-site of the Company (http://www.mrsk-ural.ru/ir/) for further details on the financial statements prepared under RAS and IFRS.

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Full report or any of its chapters can be downloaded as pdf files on this page.
1About company
1.1Mission and strategic goals
1.2Market share
1.3Management systems
1.4Key 2017 events
2Board of directors’ progress report
2.1Letter to stockholders
2.2Production capital formation
2.2.1Network exploitation
2.2.2Electricity transmission
2.2.3Technological connection
2.2.4Development of telecommunications and IT systems
2.2.5Investments
2.2.6Innovations
2.2.7Efficacy enhancement
2.3Financial capital formation
2.3.1Description of tariff policy
2.3.2Analysis of revenues and expenses
2.3.3Analysis of receivables and payables
2.3.4Credit ratings and bonds
3Corporate governance
3.1Corporate governance practices
3.2Corporate governance system
3.2.1General meeting of stockholders
3.2.2Board of Directors
3.2.3Board of directors’ committees
3.2.4General director and executive board
3.2.5Remuneration and compensation policy
3.3Oversight system
3.3.1Board of internal auditors
3.3.2Independent auditor
3.3.3Internal control
3.3.4Security and anti-corruption
3.3.5Risk management
3.4Investor and stockholder relations
3.4.1Shareholder capital structure
3.4.2 Shareholder rights
3.4.3The company and stock market
3.4.4Communications with market participants
3.4.5FAQ
3.4.6Allocation of profit
3.4.7Contact information
4Stakeholder
4.1Human resources management
4.2Customer support
4.3Supplier relationship management
4.4Public and goverment relations
4.5Company’s transactions
4.6Subsidiaries and financial investments
4.7Environment protection
5Appendices
5.1Prepared under Russian accounting standards
5.2Prepared under international financial reporting standards
5.3Corporate governance code compliance report
5.4References
5.5Abbreviations and acronyms
5.6Sitemap