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.