ROCKET AND SPACE CORPORATION "ENERGIYA", NAMED
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ROCKET AND SPACE CORPORATION "ENERGIYA", NAMED AFTER S.P.KOROLEV FINANCIAL STATEMENTS OF THE OPEN JOINT STOCK COMPANY “ROCKET AND SPACE CORPORATION "ENERGIYA", NAMED AFTER S.P.KOROLEV For 2012 and 2011 Korolev CONTENTS FINANCIAL STATEMENTS FOR 2012 ..................................................................................... 5-63 FINANCIAL STATEMENTS. .................................................................................................... .5 BALANCE SHEET ..................................................................................................................... .9 PROFIT AND LOSS STATEMENT........................................................................................... 16 REPORT ON CHANGES IN EQUITY....................................................................................... 18 REPORT ON CASH FLOWS ..................................................................................................... 21 NOTES TO THE BALANCE SHEET AND REPORT ON FINANCIAL RESULTS ............................................................................. 24 AUDITORS' REPORT ................................................................................................................ .61 CONCLUSION OF THE AUDIT COMMITTEE ....................................................................... 64 FINANCIAL STATEMENTS FOR 2011 ................................................................................... 67-131 FINANCIAL STATEMENTS. .................................................................................................... .67 BALANCE SHEET ..................................................................................................................... .70 PROFIT AND LOSS STATEMENT........................................................................................... 77 REPORT ON CHANGES IN EQUITY....................................................................................... 79 REPORT ON CASH FLOWS ..................................................................................................... 82 NOTES TO THE BALANCE SHEET AND REPORT ON FINANCIAL RESULTS ............................................................................. 85 APPENDIX TO THE BALANCE SHEET. ................................................................................ 106 AUDITORS' REPORT ................................................................................................................ 126 CONCLUSION OF THE AUDIT COMMITTE ......................................................................... 130 In accordance with paragraph 9 of the Decree of the Russian Federation Government No. 1214 "On improvement of management of public companies with shares, related to the federal property, and federal state unitary enterprises", dated 31.12.2010, financial statements shall be presented for a 2 years (current and previous) term and shall become an appendix to chapter 9 of the Annual Report of "RSC "Energiya" for 2012. FINANCIAL STATEMENTS OF THE OPEN JOINT STOCK COMPANY “ROCKET AND SPACE CORPORATION "ENERGIYA", NAMED AFTER S.P.KOROLEV For 2012 INN 5018033937-1050 4017 Correction number: 0 dated July 02, 2010, No. 66v with amendments as of October 05, 2011, No. 124n All-Russia Classifier of Management Documentation form: 0710099 KPP 501801001 Page 001 Balance sheet Reporting period (code) 34 Reporting year 2012 Open Joint Stock Company "Rocket and Space Corporation "Energiya", named after S.P. Korolev (name of the organization) Code of economic activity in OKVED classifier OKPO Code Form of ownership (OKFS) Legal form (OKOPF) Unit of measure (thousand roubles, million roubles – OKEI code 17 pages The accuracy and completeness of information, specified in this document, is confirmed: Manager Lopota Vitali Aleksandrovich (First name, last name, patronymic, completely) Signature: /signature/ Date: 28.03.2013 Place for signature Chief accountant Korogodina Elena Mikhaylovna 73.10 07530238 41 12247 384 with appendix of documents and their copies on ___ pages Filled by the member of the tax authority Information about delivery of documents This document is delivered (code) On ____ pages Composed of (mark with "V”) 0710001 0710002 0710003 0710004 0710005 0710006 with appendix of documents and their copies on ___ pages Date of delivery of the document Registered with the number (First name, last name, patronymic, completely) Signature: /signature/ (First name, last name, patronymic) (signature) Stamp: Open Joint Stock Company "Rocket and Space Corporation "Energiya", the Russian Federation, Korolev, Moscow Oblast, OJSC "RSC Energiya". Stamp: Interdistrict Inspectorate of the Federal Tax Service No. 2 for Moscow Oblast, March 28, 2013, Koroleva S.V. No. 18962730 No. 18962368 INN 5018033937-1050 4024 KPP 501801001 Page 002 Location (address) Post code 141070 Subject of the Russian Federation (code) 50 District City Korolev Locality (village, town, etc) Street (avenue, lane, etc.) Lenina St. House (estate) number 4a Number of building (structure) Office number All-Russia Classifier of Management Documentation form: 0710001 INN 5018033937-1050 4031 KPP 501801001 Page 003 Balance sheet Active Explanations Name of indicator Code 1 2 3 I. NON-CURRENT ASSETS Intangible assets 3 2 Results of research and 3 3 development Intangible research assets Tangible research assets Fixed assets 3 4 Profitable investments in tangible 3 4 assets Financial investments 3 6 Deferred tax assets Other non-current assets 3 5 Total in section I II. CURRENT ASSETS Stock 3 7 Value added tax on acquired values Accounts receivable 3 10 Financial investments (excluding 3 6 cash equivalents) Cash and cash equivalents Other current assets Total in section II BALANCE For the reporting date of the reporting period 4 On December, 31 of the previous year 1110 1120 9351 73673 7408 180186 4347 277562 1130 1140 1150 1160 10096535 323017 2840842 170139 2537569 68795 1170 1180 1190 1100 254050 97988 2982490 13837104 247670 65804 2263795 5775846 248430 24561 747046 3908310 1210 1220 16324881 639154 9983696 441602 5125734 198122 1230 1240 19961370 3422715 14091612 3773693 11952830 1736834 1250 1260 1200 1600 2774106 287944 43410170 57247274 1595094 356140 30241837 36017683 3625231 259363 22898114 26806424 5 On December, 31 of the year, prior to the previous year 6 1050 4048 INN 5018033937-KPP 501801001 Page 004 PASSIVE Explanations Name of indicator Code 1 2 3 III. CAPITAL AND RESERVES Authorized capital (share capital, charter capital, members deposits) Own shares, repurchased from the shareholders Revaluation of fixed assets Additional capital (without revaluation) Reserve capital Accumulated surplus (accumulated losses) Total in section III III. SPECIAL-PURPOSE FINANCING Share fund Endowment Targeted funds Real estate fund and fund of valuable personal property Reserve fund and other trust funds Total in section III IV. LONG-TERM LIABILITIES Borrowed funds Deferred tax liabilities Estimated liabilities Other liabilities Total in section IV For the reporting date of the reporting period 4 On December, 31 of the previous year 5 On December, 31 of the year, prior to the previous year 6 1310 1123734 1123734 1123734 1320 - - - 1340 1350 7201934 163859 733799 164737 738910 164737 1360 1370 168560 2780170 168560 2364303 116008 1281129 1300 11438257 4555133 3424518 1310 1320 1350 1360 - - - 1370 - - - 1300 - - - 1410 1420 1430 1450 1400 1000000 178035 1178035 1117610 147499 1265109 1587963 123464 882673 2594100 1050 4055 INN 5018033937-KPP 501801001 Page 005 Explanations Name of indicator Code For the reporting date of the reporting period On December, 31 of the previous year 1 2 3 4 5 V. SHORT-TERM LIABILITIES Borrowed funds Accounts payable 3 14 Deferred revenues 3 17 Estimated liabilities 3 24 Other liabilities Total in section V BALANCE 1510 1520 1530 1540 1550 1500 1700 299993 41280427 411939 307795 2330828 44630982 57247274 950000 27208174 272693 312255 1454319 30197441 36017683 Notes 1. Specify the number of the corresponding note to the balance sheet and profit and loss statement. 2. Deducted or negative indicator should be written parenthetically here and in other forms of reports. 3. Should be completed by non-commercial organizations. On December, 31 of the year, prior to the previous year 6 1062000 19556779 131696 37331 20787806 26806424 1050 4062 INN 5018033937-KPP 501801001 Page 006 Interpretation of separate indicators of balance sheet The page is given in case of presence of transcripts Explanations Name of indicator Code 1 2 3 Intangible assets (p. 1110), including Patents, know-how, copyright 11101 3 2 rights 11102 11103 Results of research and development (p. 1120), including: Finished R&D 11201 3 3 11202 Intangible research assets (p. 1130), including: 11301 11302 Tangible research assets (p. 1140), including: 11401 11402 Fixed assets (p. 1150), including: Buildings and structures 11501 3 4 Machines and equipment 11502 3 4 Means of transportation 11503 3 4 Profitable investments (p. 1160), including: 11601 3 4 11602 Financial investments (p. 1170), including: Stocks and shares of subsidiary 11701 3 6 companies Stocks and shares of dependent 11702 3 6 companies Stocks and shares of other 11703 3 6 companies 11704 Deferred tax assets (p. 1180), including: 11801 11802 Filled indicators (p. 1185), including: 11851 11852 - For the reporting date of the reporting period 4 On December, 31 of the previous year 9338 7398 4340 - - - 73673 180188 277562 - - - - - - 2443149 664828 101977 1944937 480398 124819 1862931 409533 132966 323017 170139 68795 125306 118890 118890 29487 29497 30253 99257 99283 99287 - - - - - - - - - 5 On December, 31 of the year, prior to the previous year 6 1050 4079 INN 5018033937-KPP 501801001 Page 007 Interpretation of separate indicators of balance sheet The page is given in case of presence of transcripts Explanations Name of indicator Code 1 2 3 For the reporting date of the reporting period 4 On December, 31 of the previous year 2152866 829033 - 1794034 469171 - 369784 288978 - 275591 307306 9559880 - 4810469 - - - 263020 193288 13378404 - 11200674 - 989561 - 844005 - - - 238480 170572 17603 - 17650 - 5 On December, 31 of the year, prior to the previous year 6 Other non-current assets (p. 1210), including 3 5 3 3 Non-finished capital investments Non-finished R&D - 11901 11902 11903 Stock (p. 1210), including Materials, raw materials and other 12101 698769 3 7 valuables Non-finished production costs 12102 15469886 3 8 12103 12104 12105 Value added tax on goods purchased (p. 1220), including: 12201 Accounts receivable (p. 1230), including: Payments to suppliers and 12301 1115986 3 10 contractors Advances, paid 12302 18113512 3 10 12303 12304 12305 Financial investments (excluding cash equivalents) (p. 1240), including: Loans, issued 12401 1372533 12402 12403 Cash and cash equivalents (p. 1250), including: 12501 12502 Filled indicators (p. 1255), including: 12551 12552 Other current assets (p. 1260), including: VAT, claimed for reimbursement 12601 173115 under agreements and contracts VAT, from received advances 12602 15348 12603 - 1050 4086 INN 5018033937-KPP 501801001 Page 008 Interpretation of separate indicators of balance sheet The page is given in case of presence of transcripts Explanations Name of indicator Code 1 2 3 For the reporting date of the reporting period 4 On December, 31 of the previous year 5 On December, 31 of the year, prior to the previous year 6 Authorized capital (share capital, charter capital, members deposits) / share fund (p. 1435), including: 13101 Own shares, repurchased from the shareholders (p.1320), including: 13201 Endowment (p.1320), including: 13201 Revaluation of fixed assets (p. 1340), including: 13401 Additional capital (without revaluation) / Targeted funds (p. 1530), including: 13501 13502 Reserve capital / Real estate fund and fund of valuable personal property (p. 1360), including: Reserves, formed in accordance 13601 168560 168560 116008 with the constituent documents 13602 Accumulated surplus (accumulated losses) / Reserve fund and other trust funds (p. 1370), including: 13701 13702 Filled indicators (p. 1375), including: 13751 13752 Borrowed funds (p. 1410), including: Credits 14101 1000000 1117610 1587963 14102 Deferred tax liabilities (p. 1420), including: 14201 Estimated liabilities (p. 1430), including: Estimated liabilities for leaves 14301 14302 - 1050 4093 B226 75E6 5082 A18D D68F F795 BF7E 6A54 INN 5018033937-KPP 501801001 Page 009 Interpretation of separate indicators of balance sheet The page is given in case of presence of transcripts Explanations Name of indicator Code 1 2 3 Filled indicators (p. 1435), including: Other long-term liabilities (p.1450), including: Borrowed assets (p.1510), including: Credits Accounts receivable (p. 1520), including: suppliers and contractors 3 14 debt to organization personnel debt to state non-budgetary funds taxes and charges advances received 3 14 debt to participants on dividends payment Prepaid income (p, 1530), including: targeted research funding 3 17 Estimated liabilities (p. 1540), including: estimated liabilities for leaves 3 24 Filled indicators (p. 1545), including: Other current liabilities (p. 1550), including: equity participation in construction - For the reporting date of the reporting period 4 On December, 31 of the previous year 14351 14352 - - - 14501 - - - 15101 299993 950000 1062000 15201 15202 15203 15204 15205 15206 2169023 317459 82178 201858 38431660 6065 2063781 237959 45860 238303 24601436 2232 1809169 221270 32917 111233 17170927 2634 15207 - - - 15301 400860 272650 131650 15401 15402 307151 - 312255 - - 15451 15452 - - - 15501 - 2248668 - 1417734 - - 5 On December, 31 of the year, prior to the previous year 6 1050 4109 INN 5018033937-KPP 501801001 Page 010 Profit and loss statement All-Russia Classifier of Management Documentation form No. 0710002 Explanations 1 Name of indicator Code 2 Revenue (2) Cost of sales Total profit (loss) Selling costs Management costs Profit (loss) from sales Revenue from investments in other companies 3 2110 2120 2100 2210 2220 2200 2310 Interest receivable Interest payable Other types of revenue Other costs Profit (loss) before taxation Current income tax including permanent tax liabilities (assets) Changes in deferred tax liabilities Changes in deferred tax assets Other Net income (loss) REFERENTIAL Result from revaluation of fixed assets, not included in the net income (loss) for the period Result from other operations, not included in the net income (loss) for the period Combined financial results for the period Basic earnings (loss) per share Diluted profit (loss) per share For the reporting period For the similar period of the previous year 4 5 22131127 20512384 1618743 268642 20538538 18669363 1869175 90974 1350101 27608 1778201 85395 2320 2330 2340 2350 2300 2410 2421 2430 2450 2460 2400 298339 392631 3857346 4045861 1094902 345739 145330 (32998) 28427 14299 758891 126268 225925 5505822 5600410 1669351 446291 117038 (20110) 33493 9381 1245824 2510 - - 2520 14871 7026 2500 2900 2910 773762 - 1252850 - Notes: 1. 2. 3. Specify the number of the corresponding note to the balance sheet and profit and loss statement. The profit is shown deducting the value added tax and excises. The total financial result of the period is defined as the sum of "Net income" (loss) " line," Result from revaluation of fixed assets, not included in the net income (loss) for the period" line and "Results from other operations, not included in the net income (loss) of the period" line. INN 5018033937-1050 4116 KPP 501801001 Page 011 Interpretation of separate indicators of profit and loss statement The page is given in case of presence of transcripts Explanations 1 Name of indicator Code For the reporting period 2 3 4 Revenue (p.2110), including: Research and experimental development in the field of natural sciences and engineering Services in a construction sector, social sphere, sphere of trade and public catering Cost of sales (p.2120), including: Research and experimental development in the field of natural sciences and engineering Services in a construction sector, social sphere, sphere of trade and public catering Total profit (loss) (p.2100), including: Research and experimental development in the field of natural sciences and engineering Services in a construction sector, social sphere, sphere of trade and public catering Selling costs (p.2210), including: Research and experimental development in the field of natural sciences and engineering Management costs (p.2220), including Profit (loss) from sales (p.2200), including: Research and experimental development in the field of natural sciences and engineering Services in a construction sector, social sphere, sphere of trade and public catering Revenue from investments in other companies (p.2310), including: Interest receivable (p.2320), including: Interest payable (p.2330), including: Other types of revenue (p.2340), including Revenues, connected with provision of assets of the Corporation for temporary use with payment of corresponding fees Revenues, connected with sale of fixed assets and other assets Other costs (p.2350), including: Costs, connected with provision of assets of the Corporation for temporary use with payment of corresponding fees Costs, connected with sale of fixed assets and other assets - For the similar period of the previous year 5 21101 21484988 19958741 21102 646139 579797 21201 19915385 18122542 22202 596999 546821 21001 1569603 1836199 21002 49140 32976 22101 268642 90974 22201 - - 22001 1394752 1820161 22002 44651 41960 23101 - - 23201 - - 23301 - - 23401 246698 243946 23402 2480203 4237193 23501 158487 101941 23502 2518391 4241062 23503 - - 23403 1050 4130 INN 5018033937-KPP 501801001 Page 012 Report on changes in equity All-Russia Classifier of Management Documentation form 0710003 1. Capital transfer Authorized capital Own shares repurchased from the shareholders Additional capital Reserve fund 1 2 3 4 Capital value on 31 December of the year, prior to the previous (3100) 1123734 903647 (PREVIOUS YEAR) Capital increase – total (3210): including: net profit (3211) revaluation of assets (3212) revenues, directly connected with the increase of the capital (3213) additional issue of shares (3214) increase of the nominal value of shares (3215) reorganization of legal entity (3216) Capital decrease – total (3220): including: loss (3221) revaluation of assets (3222) costs, directly connected with decrease of the capital (3223) reduction of the nominal value of shares (3224) decrease of the number of shares (3225) reorganization of legal entity (3226) dividends (3227) Change of the additional 5111 capital (3230) Change of the reserve capital (3240) Accumulated surplus (accumulated losses) 5 Total 6 116008 1281129 3424518 - 1247738 1245824 1914 - 1247738 1245824 1914 - - - - - - - - - - - - - - 117123 117123 4750 4750 - - - - - - - - - - 112373 5111 112373 - 52552 52552 - 1050 4147 INN 5018033937-KPP 501801001 Page 013 Authorized capital Own shares repurchased from the shareholders Additional capital Reserve fund 1 2 3 4 Capital value on 31 December of the previous year (3200) 1123734 898536 (REPORTING YEAR) Capital increase – total (3310): 6482139 including: net profit (3311) revaluation of assets (3312) revenues, directly connected with the increase of the capital (3313) additional issue of shares (3314) increase of the nominal value of shares (3315) reorganization of legal entity (3316) Capital decrease – total (3320): including: loss (3321) revaluation of assets (3322) costs, directly connected with decrease of the capital (3323) reduction of the nominal value of shares (3324) decrease of the number of shares (3325) reorganization of legal entity (3326) dividends (3327) Change of the additional 14882 capital (3330) Change of the reserve capital(3340) Capital value on December 31 of the reporting year (3300) 1123734 7365793 Accumulated surplus (accumulated losses) 5 Total 6 168560 2364303 4555133 - 758891 758891 - 7241030 758891 - - - - - - - - - - - - - - 357906 43260 357906 43260 - - - - - - - - - - 314646 14882 314646 - - - - 168560 2780170 11438257 INN 5018033937-KPP 501801001 Page 014 1050 4154 2. Corrections, made due to changes in accounting policies and process of correction of errors Name of indicator Code 1 2 Capital - total before correction corrections, made in connection with: changes in accounting policy errors correction after correction including: accumulated surplus (accumulated losses): before correction corrections, made in connection with: changes in accounting policy errors correction after correction other parts of capital before correction corrections, made in connection with: changes in accounting policy errors correction after correction Changes in equity for the previous year On December 31 of the From the net Because of year, prior to the previous profit other factors (loss) 3 4 5 On December 31 of the previous year 6 3400 - - - - 3410 3420 3500 - - - - 3401 - - - - 3411 3421 3501 - - - - 3412 3422 3502 - - - - Code On December 31 of the reporting year 3402 3. Net assets Name of indicator 1 Net assets 2 3600 On December 31 of the previous year 3 11850196 4 4827826 On December 31 of the year, prior to the previous 5 3556214 1050 4178 INN 5018033937-KPP 501801001 Page 015 Report on cash flows All-Russia Classifier of Management Documentation form 0710004 Name of indicator Code For the reporting year 1 2 3 Cash flow from current operations Income - total including: sale of products, goods, works and services lease payments, license fees, royalties, fees and other similar payments resale of financial investments other types of income Payments - total; including: payments to suppliers (contractors) for raw materials, works or services in connection with the compensation of employees percent of the debt liabilities income tax other payments Balance of cash flows from current operations Cash flows from investment operations Income - total including: sales of fixed assets (excluding financial investments) sales of shares of other organizations (market shares) return of loans, sale of debt securities (rights of demand of funds to other persons) dividends, interest on debt financial investments and similar income from the share holding in other companies other types of income Payments - total; including: in connection with acquisition, creation, modernization, reconstruction and preparation for use of non-current assets in connection with acquisition of shares of other organizations (market shares) in connection with acquisition of debt securities (rights to demand money to other persons), giving loans to other people and entities interest on debt obligations, included in the price of investment assets other payments Balance of cash flows from investment operations For the same period of the previous year 4 4110 37968777 31448510 4111 4112 34693801 164623 28114822 136786 4133 4119 4120 3110353 33159741 3196902 28775669 4121 23633529 19459820 4122 4123 4124 4129 4100 4219158 393636 464524 4448894 4809036 3786501 192416 353018 4983914 2672841 4210 728494 1991947 4211 4212 4213 5932 139 650125 807 2866 1846457 4214 72298 141817 4219 4220 2980478 5689663 4221 1949757 984768 4222 510 - 4223 103021 4704895 4224 - - 4229 4200 2251984 3697716 INN 5018033937-KPP 501801001 Page 016 1050 4185 Name of indicator Code For the reporting year 1 2 3 Cash flow from finance operations Income - total including: receiving of credits and loans cash contributions of the owners (members) issue of shares, increase of market shares issuance of bonds, bills, other debt securities, etc. other types of income Payments - total; including: owners (shareholders) in connection with redemption of their shares (market shares) of organizations or their quit from the membership payment of dividends and other payments according to distribution of profits in behalf of the owners (shareholders) in connection with redemption of bills and other debt securities, repayment of loans and credits other payments Balance of cash flows from finance operations Balance of cash flows for a reporting period Balance of cash and cash equivalents at the beginning of a reporting period Balance of cash and cash equivalents at the end of a reporting period Effect of changes in foreign currency exchange rates against the rouble For the same period of the previous year 4 4310 8993329 3348241 4311 4312 4313 4314 4319 4320 8993329 10371318 3348241 4353554 4321 - - 4322 310809 110860 4323 9759814 3930978 4329 4300 4400 4450 300695 1377989 1179063 1595043 311716 1005313 2030188 3625231 4500 2774106 1595043 4490 12785 11177 INN 5018033937-1050 4192 KPP 501801001 Page 017 Interpretation of separate indicators of a cash flow report The page is given in case of presence of transcripts Name of indicator Code For the reporting period 1 2 3 Filled indicators (p. 4114), including: Other receipts (p.4119), including: investors' share in construction processes Filled indicators (p. 4125), including: Other receipts (p.4129), including: suppliers (contractors) for raw materials, works and services in connection with equity Filled indicators (p.4215), including: Other receipts (p.4219), including: Filled indicators (p. 4225), including: Other receipts (p.4229), including: Filled indicators (p.4315), including: Other receipts (p.4319), including: Filled indicators (p.4324), including: Other receipts (p.4329), including: - For the similar period of the previous year 4 41141 41142 - - 41191 41192 2828238 - 1778760 - 41251 41252 - - 41291 1200793 2362089 41292 - - 42151 42152 - - 42191 42192 - - 42251 42252 - - 42291 42292 - - 43151 43152 - - 43191 43192 - - 43241 43242 - - 43291 43292 - - OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. 1. Main information 1.1 Main information The Open Joint Stock Company "Rocket and Space Corporation "Energiya" was established on the basis of a decree No. 415 of the Government of the Russian Federation, dated April 29, 1994. A certificate of state registration is issued for "RSC "Energiya" and corresponding notes are provided in the Unified State Register of Legal Entities: main state registration number 1025002032538. The certificate of state registration is issued on October 21, 2002 by the Inspection of the Russian Federation Federal Tax service No. 2 in the Moscow oblast The Company is registered at the following address: 141070, Moscow oblast, Korolev. Lenina st. 4a. 1.2 Branches (structural units) The Company had eight geographically separate structural units (including branches) as of 31.12.2012. The list of separate structural units (including branches) No. 1 Name Location Moscow oblast, Sergiev Posad district, instructional farm Recreation centre "Voskhod" village "Sitniki", building no. 15 KPP Activity 504202001 Activities of recreation centers, etc. 2 Recreation centre of a sanatorium type "Vostok" Krasnodar region, Tuapse district, vil. Novomikhailovsky-2 235502001 Activities of recreation centers, etc. 3 Sanatorium "Krepost" Stavropol region, resort city Kislovodsk, Prospect Mira 9 262802001 Activities of recreation centers, etc. 4 "Baikonur" The Republic of Kazakhstan, Kyzyl-Orda region, Baikonur-8 990103001 Maintenance and operation of "Baikonur" objects Other separate structural units No. 1 2 Name Catering department Social sphere department Activity Trade, catering Social services 3 Sanatorium "Podlipki" Activities of recreation centers, etc. 4 Separate branch for works provision at the "Plesetsk" launch site Works provision at the "Plesetsk" launch site OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. The following changes were taken during 2012 as parts of separate structural units: creation of a separate unit, ensuring works performance at the "Plesetsk" launch site. 2. Significant aspects of accounting policies and presentation of information in financial statements 2.1 Basis for statements formation These financial statements are formed on the basis of existing rules for accounting and reporting of the Russian Federation, in particular, the Federal Law No.402- FZ "On Accounting", dated December 6, 2011, and Regulations on Accounting and Reporting of the Russian Federation, approved by a corresponding order of the Ministry of Finance of the Russian Federation on July 29, 1998 (No. 34n) as well as other regulations in the system of accounting and reporting, functioning on the territory of the Russian Federation, Financial statements are prepared in accordance with accounting policies, approved by the order of the President of "RSC "Energiya" No. 524, dated December 31, 2011. 2.2 Assets, liabilities and transactions in foreign currency Accounting for transactions, made in a foreign currency, shall use exchange rates of a relevant currency, set by the Central Bank of the Russian Federation on the date of transactions. Cash on currency and deposit accounts with banks, funds for calculations, including loans, issued and received, loans, denominated in foreign currencies, shall be recorded in financial statements in amounts, set on the basis of an official exchange rate. Such rate amounted to 30.3727 roubles and 32.1961 roubles for 1 US dollar and 40.2286 roubles and 41.6714 roubles for 1 Euro on December 31, 2012 and 2011, respectively. Exchange rate differences, arising during the year in connection with assets and liabilities, denominated in foreign currencies, as well as their recalculation as of reporting date, shall be included in the structure of other income and costs. 2.3 Short-term and long-term assets and liabilities The balance sheet describes receivables and payables as short-term if their maturity (redemption term) is less than 12 months after the reporting date or if it is not set. All other assets and liabilities shall be presented as long-term. Financial investments and loans are classified as short-term or long-term on the basis of an expected period of use (circulation, possession or maturity) after the reporting date. 2.4 3. Changes in accounting policies Accounting policies of "RSC "Energiya" for 2012 have no changes, significantly affecting financial statements. Disclosure of important indicators 3.1 Segment information Primary segment information is used for operating segments and secondary segment information is used for geographical segments in accordance with AR 12/2010 "Segment information". Such structure is formed on the basis of sources and nature analysis for risks, associated with activities of the Corporation, profits, gained by it, organizational and management structure and internal reporting systems, used to generate information. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Primary information - operating segments Activities of the Corporation can include one main operating segment: - performance of research, development and experimental works on creation and operation of manned orbital complexes, launch vehicles, launch equipment of different classes, space telecommunication systems, means of broadcasting and satellite communications; other segments, including: services, connected with sanatorium treatment, services of children's health camps; provision of services in the sphere of trade and catering: provision of social services; provision of other services (for regime activities and recruitment for subsidiaries, printing services, etc.) Indicator Performance of research, development and experimental work Provision of services for sanatorium treatment 1 2 3 4 5 6 7 Segment revenue 21 277 305 498 963 111 120 36 055 207 684 22 131 127 Profit (loss) from segment sales 1 378 456 14 390 -67 366 8 325 16 296 1 350 101 Interest receivable 275 176 23 163 X 298 339 Interest payable -392 631 X -392 631 27 608 X 27 608 Provision of Provision of Provision of services in the social services other services field of trade Total for the Corporation For 2012 Income from participation in other organizations Other types of income 3 731 877 2 693 23 122 753 X 3 857 346 Other types of costs -3 914 819 -5 894 -1 013 -124 135 X -4 045 861 Profit (loss) before taxation, segment 1 105 667 34 352 -68 356 6 943 16 296 1 094 902 35 172 272 811 854 25 942 7615 X 36 017 683 Assets - total 35 172 272 811 854 25 942 7 615 X 36 017 683 Segment liabilities 30 617 139 811 854 25 942 7 615 X 31 462 550 As of December 31, 2011 Segment assets Assets, not allocated to segments OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Performance of research, development and experimental work Provision of services for sanatorium treatment Liabilities - total 30 617 139 811 854 25 942 7615 X 31 462 550 As of December 31, 2010 Segment assets 56 168 749 1 030 104 39 797 8 624 X 57 247 274 Assets, not allocated to segments - - Assets - total 56 168 749 1 030 104 39 797 8 624 X 57 247 274 Segment liabilities 44 730 492 1 030 104 39 797 8 624 X 45 809 017 Liabilities, not allocated to segments - - Liabilities - total 44 730 492 1 030 104 39 797 8 624 X 45 809 017 Indicator Provision of Provision of Provision of services in the social services other services field of trade Total for the Corporation Liabilities, not allocated to segments Revenue (income) is generated as a result of transactions with purchasers and customers. Operations with other segments are not allowed. Income tax costs and other similar payments are not included in income (loss) segment calculations. Distribution of interest receivable, interest payable, income from participation in other organizations, other types income and costs, arising between segments "Carrying out of research, development and experimental works" and "Provision of other services" was not carried out as it was inexpedient and due to the lack of a necessary basis. These income and costs are related to activities of the Corporation as a whole. Segment assets consist of primarily fixed assets, construction in progress, stocks, production in progress, accounts receivable and other current assets other than deferred tax assets, financial investments and cash. Non-allocated assets are not included in segment assets, as they are not directly related to reporting segments and the required allocation base is missing for them. Segment liabilities include mainly short-term liabilities, except liabilities to the budget, connected with the income tax, liabilities to loans and credits, used to finance activities of the Corporation as a whole, and deferred tax liabilities. A combined share in net profits of associates and subsidiaries and total amount of investments in these Corporation elements are not disclosed in this section as they are not directly related to Corporation segments. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Secondary information - geographical segments Geographical segments information (revenues from sales to external customers and financial results of such segments) are presented in the following table: ______________________________________________________________________ th. roub. Geographical segments Sales (excluding VAT) Prime cost Profit on sales Domestic market EU countries Italy Japan USA Total 21 272 753 71 400 569 574 13 107 204 293 22 131 127 20 180 530 60 371 340 908 10 093 189 124 20 781 026 1 092 223 11 029 228 666 3 014 15 169 1 350 101 Return on sales, % 5,13 15,45 40,15 23,00 7,43 6,10 Revenue is presented in terms of geographical segments by market locations. Assets and investments are classified in one geographical segment, chosen in accordance with location of assets the Russian Federation, since capacities of the Corporation are located on the territory of the Russian Federation. 3.2 Intangible assets Accounting of intangible assets of the Corporation is conducted in accordance with AR 14/2007 "Accounting of Intangible Assets", approved by the Order of the Russian Ministry of Finance No. 153n, dated 27.12.2007. Accounting includes records on intangible assets at their historical (replacement) cost net of amortization, accumulated during the period of their use. Revaluation of intangible assets of the Corporation was not made in 2012. Amortization of intangible assets is done, using a linear method. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Intangible assets and costs on research, development and engineering (R&D) works. Availability and movement of intangible assets Changes for a period At the beginning of the year Indicator Period Initial Intangible assets total including patents, licenses, know-how, copyrights, Industrial designs and models cost3 Excluded Accumulated amortization and impairment losses Proceeded Initial cost3 Reevaluation Accumulated Amortization amortization charged and impairment losses Impairment losses Initial cost3 Accumulated amortization At the end of a period Initial cost3 Accumulated amortization and impairment losses for 2012 (1) 8 026 -618 2 534 -9 7 -589 10 551 -1 200 for 2011 (2) 4 656 -309 3 561 -191 19 -328 8 026 -618 for 2012 (1) 8 015 -617 2 529 -9 7 -587 10 535 -1 197 for 2011 (2) 4 649 -309 3 557 -191 19 -327 8 015 -617 for 2012 (1) 11 -1 5 0 0 -2 16 -3 for 2011 (2) 7 0 4 0 -1 11 -1 for 2012 (1) 0 0 0 0 for 2011 (2) 0 0 0 0 Software, databases Etc. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Intangible assets and costs on research, development and engineering (R&D) Initial cost of intangible assets, created by the organization Indicator As of December 31, 2012 (4) As of December 31, 2011 (2) As of December 31, 2010 (5) Total 10551 8 026 4 656 including: Patents, licenses, know-how, copyrights, (types of intangible assets) 10 535 8015 Industrial designs and models (types of intangible assets) 16 11 7 As of December 31, 2011 (2) As of December 31, 2010 (5) iii¡; 4 649 Software, databases (types of intangible assets) Etc. Intangible assets with a fully repaid cost Indicator Total including: Patents, licenses, know-how, copyrights, (types of intangible assets) Industrial designs and models (types of intangible assets) Software, databases (types of intangible assets) Etc. As of December 31, 2012 (4) - - - OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. 3.3 R&D costs Non-current assets on separate sub-accounts of account 08 "Fixed assets" include performed scientific research and experimental design activities. Separate subaccounts of account 04 "Intangible assets" include performed scientific research and experimental design activities, finished and used in the process of goods (works, services) production. An accounting unit for R&D costs is an inventory item. An inventory item is considered as the sum of costs for performed works, the results of which are independently used in the process of goods (works, services) production or for administrative needs of the Corporation. The costs are deducted, using a straight-line method. Depreciable term of R&D costs is determined on the basis of the expected life of received R&D results. Expected usage term and amortization method for costs on each R&D subject shall be set by a Technical Commission on the use of R&D results, approved by the Project Manager. R&D costs, not providing positive results, shall be deducted in other costs of a reporting period. A balance sheet reflects finished and used products for R&D production (works, services) in line 1120 "Results of research and development" Costs of performed scientific research and experimental design works are reflected in line 1170 "Other current assets". Line 1120 "Research and development results" of a balance sheet shows total costs on elements, completed and used in R&D activities of the Corporation in the amount of 73 673 thousand roubles. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Presence and transfer of R&D results Changes for a period At the beginning of the year Indicator Research and development - total Period etc Part of the cost, charged to Part of the cost, expenses during charged to the period expenses Initial cost Part of the cost, charged to expenses Proceeded For 2012 (1) 180 188 0 6 994 0 113 509 0 For 2011 (2) 277 562 0 67 532 0 164 906 For 2012 (1) 178 049 0 5 224 0 273 878 0 65 020 For 2012 (1) 2 139 0 For 2011 (2) 3 684 0 including assets, created as a result of R&D, performed on the basis of Corporation's own For 2011 (2) funds Assets, created as a result of R&D, performed by means of trust financing At the end of a period Excluded Initial cost Initial cost iii¡;73 Part of the cost, charged to expenses 673 0 0 180 188 0 111 450 0 71 823 0 0 160 849 0 178 049 0 1 770 0 2 059 0 1 850 0 2512 0 4 057 0 2 139 0 OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Unfinished and unformed research and development operations for acquisition of intangible assets Changes for a period Indicator Costs of unfinished research and development - total including: R&D performed, using Corporation's own funds Period At the beginning of the year costs for a period excluded as costs, not giving a positive result accepted for accounting as intangible assets or R&D At the end of a period For 2012 (1) 469 171 370 468 -3 613 -6 993 829 033 For 2011 (2) 288 978 247 725 0 -67 532 For 2012 (1) 199 171 238 513 -3 613 -5 223 428 848 For 2011 (2) 157 741 106 450 0 -65 020 199 171 For 2012 (1) 270 000 131 955 0 -1 770 400 185 For 2011 (2) 131 237 141 275 0 -2 512 270 000 For 2012 (1) 590 2 535 0 -2 534 591 For 2011 (2) 375 3 776 0 2 360 590 2 535 0 -2 534 589 iii¡; 469 171 R&D performed, using trust funds Etc. non-finished operations for acquisition of intangible assets total For 2012 (1) 588 including: inventions For 2011 (2) 373 3 776 0 -3 561 588 For 2012 (1) 2 0 0 0 2 For 2011 (2) 2 0 0 0 2 For 2012 (1) 0 0 0 0 0 For 2011 (2) 0 0 0 0 0 industrial designs databases, software, licenses Etc. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. 3.4 Fixed assets Fixed assets include assets, conforming to requirements of provisions on "Accounting of fixed assets" (AR 6/01), approved by the Order of the Ministry of Finance of Russia No. 26n, dated March 30, 2001, approved in a prescribed manner from the moment of their commissioning. The accounting documentation includes fixed assets, shown at historical (replacement) cost net of an accumulated amortization period of their use. Revaluation of land plots, owned by the right of ownership of "RSC "Energiya" was carried out as of 31.12.2012. Amortization of fixed assets, acquired and constructed before January 1, 2002, is based on uniform amortization rates, approved by the Decree of the USSR Council of Ministers No. 1072 "On uniform norms of amortization for recovery of fixed assets within the National Economy of the USSR" dated October 22, 1990, and for acquired - beginning from January 1, 2002 - at rates, based on estimated useful life terms. The useful life for fixed assets is established in accordance with the Classification of Fixed Assets No. 1, approved by the Government of the Russian Federation, dated 01.01.2002 № 1. A linear method is used for amortization calculation. Assets with a life of more than 12 months are included in the inventory if their initial cost is not more than 40 thousand roubles per unit. The corporation has fixed assets with the net value, amounted to 10,096,535 thousand rubles, on its balance sheet as of 31.12.2012. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Fixed assets. Availability and movement of fixed assets Changes for a period At the beginning of the year Indicator Fixed assets (excluding income-bearing investments in tangible assets - total Period Excluded accumulated Charged, initial cost (3) amortization amortization (6) initial cost (3) accumulated amortization (6) Proceeded For 2012 (1) 5 244 933 -2 404 091 1 233 826 -282 226 173 369 For 2011 (2) 4 796 522 -2 258 953 530 072 -81 661 For 2012 (1) 2 908 186 -1 049 528 487 895 For 2011 (2) 2 811 159 -1 016 395 For 2012 (1) 235 031 For 2011 (2) At the end of a period Revaluation initial cost (3) accumulated amortization (6) initial cost (3) accumulated amortization (6) -305 070 6 435 794 0 12 632 327 -2 535 792 66 831 -211 969 0 0 5 244 933 -2 404 091 -89 463 22 078 -43 519 3 306 618 -1 070 969 100 813 -3 786 3 230 -36 363 2 908 186 -1 049 528 -148 752 131 040 -4 850 4 850 -9 819 361 221 -153 721 213 361 -145 194 25 297 -3 627 3 621 -7 179 235 031 -148 752 For 2012 (1) 103 602 -55 855 121 180 -1 458 1 458 -5 585 223 324 -59 982 For 2011 (2) 80 205 -51 138 23 397 0 -3 515 103 602 -55 855 For 2012 (1) 1 317 177 -836 779 363 220 -66 182 54 342 -166 950 1 614 215 -949 387 For 2011 (2) 1 166 849 -757 316 208 472 -58 144 43 926 -124 591 1 317 177 -836 779 For 2012 (1) 290 740 -165 921 79 295 -77 621 47 995 -72 511 292 414 -190 437 For 2011 (2) 277 537 -144 571 25 843 -12 640 12 609 -33 959 290 740 -165 921 For 2012 (1) 164 408 -142 548 3 753 -42 550 42 544 -6 308 125 611 -106 312 For 2011 (2) 157 698 -139 977 10 107 -3 397 3 378 -5 949 164 408 -142 548 iii¡; including: buildings structures transfer devices machinery and equipment means of transport industrial and household equipment OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Fixed assets. Availability and movement of fixed assets (continuation) Changes for a period At the beginning of the year Excluded Indicator Period initial cost (3) accumulated amortization (6) For 2012 (1) 82 For 2011 (2) At the end of a period Revaluation initial cost (3) accumulated amortization (6) -82 -72 72 105 -105 -23 23 For 2012 (1) 221 081 0 47 065 For 2011 (2) 85 351 0 135 730 0 For 2012 (1) 4 626 -4 626 378 -30 For 2011 (2) 4 257 -4 257 413 For 2012 (1) Accounted as a part of income-bearing investments in tangible assets - total For 2011 (2) 172 302 -2 163 69 228 including: property For 2012 (1) provided for commercial recruitment For 2011 (2) Charged, amortization initial cost (3) accumulated amortization (6) 10 -10 82 -82 6 703 940 0 0 221 081 0 30 -378 4 974 -4 974 -44 44 -413 4 626 -4 626 160 073 0 0 -7 195 332 375 -9 358 -433 103 074 0 0 -1 730 172 302 -2 163 172 302 -2 163 160 073 -7 195 332 375 -9 358 69 228 -433 103 074 -1 730 172 302 -2 163 Proceeded initial cost (3) 0 accumulated amortization (6) iii¡; Perennial plantings 6 435 794 Land plots Other fixed assets Etc. 0 OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Changing of the value of fixed assets in result of completion of construction, further equipping, renovation and partial liquidation Indicator For 20121 For 20112 Changing of the value of fixed assets objects in result of completion of construction, further equipping, renovation - total 374 288 82 941 including: buildings 290 695 42 208iii¡; structures transfer devices 10 566 10 784 2 736 0 machinery and equipment 62 193 37 481 means of transport 0 516 industrial and household equipment perennial plantings land plots 50 0 0 0 0 0 other fixed assets 0 0 Changing of the value of fixed assets objects in result of partial liquidation – total: -2 644 -1 000 including: buildings -1 000 -1 000 structures 0 0 transfer devices machinery and equipment means of transport 0 -723 0 0 0 0 industrial and household equipment -921 0 perennial plantings 0 0 land plots 0 0 other fixed assets 0 0 OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Other use of the fixed assets Indicator Leased fixed assets on the balance As of December 31, 2012 As of December 31, 2011 As of December 31, 2010 (4) (2) (5) 1 489 467 1 610 008 1 443 iii¡; 861 768 368 612 505 60 122 Leased fixed assets, outstanding the balance Received rent fixed assets on the balance Received rent fixed assets, outstanding the balance Real estate, accepted and actually used in the process of state registration Fixed assets, transferred for conservation Other types of use of fixed assets (mortgage, etc.) OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. 3.5 Non-finished construction Line 1190 "Other current assets" of the balance sheet describes: Non-finished capital investments Changes for a period Indicator Period At the beginning of the year costs for a period excluded accepted for accounting as fixed assets or increased in terms of the cost For 2012 (1) 1 794 034 2 786 069 -1 350 139 -1 077 098 2 152 866 For 2011 (2) 457 693 2 932 293 -1 050 044 -545 908 1 794 034 For 2012 (1) 1 601 399 2 353 331 -1 338 615 -719 285 1 896 830 For 2011 (2) 264 503 2 662 401 -993 191 -332 314 1 601 399 For 2012 (1) 173 928 427 551 -5 339 -357 093 239 047 For 2011 (2) 2 333 249 460 0 -77 865 173 928 For 2012 (1) 2 511 787 0 -720 2 578 For 2011 (2) 153 530 16 110 -31 400 -135 729 2511 For 2012 (1) 16 196 4 400 -6 185 0 14 411 For 2011 (2) 37 327 4 322 -25 453 0 16 196 At the end of a period iii¡; Non-finished construction and nonfinished operations on acquisition, upgrading, etc. of fixed assets - total including: Acquisition, construction and creation of fixed assets Modernization and reconstruction Acquisition of land plots Other Etc. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. 3.6 Financial investments Investments with non-determined market values are accounted at their initial cost. The initial cost of investments, purchased for a fee, is the amount of actual costs for their purchase, except for value added tax and other taxes payable. Analytical accounting of investments is carried out in terms of groups and types of investment securities. Disposed investments, not having a market value, are stated at historical cost of each element. Income and costs from financial investments are recorded in groups with other income and costs. Financial investments are stated net of impairment for objects of investments, shown the signs of sustained reduction in their value (the reserve amount was 798,087 thousand roubles and 798,087 roubles as of December 31, 2012 and 2011, respectively). Other spheres of use of financial investments Indicator As of December 31, 2012 As of December 31, 2011 As of December 31, 2010 (5) (4) (2) Pledged financial investments - total 0 48 125 including: promissory notes 0 48 125 Etc. Investments, transferred to persons (other than sale) - total including: promissory notes Etc. Other types of use of financial OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Presence and transfer of financial investments At the beginning of the year Indicator Period Changes for a period Excluded accrual of interest (including bringing Current market value cumulative Initial cost initial cost to a (impairment losses) 7 adjustment nominal level) Initial cost cumulative adjustment 7 Proceeded For 2012 (1) 1 045 757 798 087 6416 -36 0 For 2011 (2) 1 045 761 797 331 9 363 -9 367 9 363 For 2012 (1) 118 890 0 6416 For 2011 (2) 128 253 9 363 -9 363 For 2012 (1) 39 616 10 119 For 2011 (2) 30 253 0 For 2012 (1) 887 251 For 2011 (2) At the end of a period Initial cost cumulative adjustment 7 1 052 137 798 087 1 045 757 798 087 125 306 0 118 890 0 -10 39 606 10 119 0 39 616 10 119 787 968 -26 887 225 787 968 887 255 787 968 -4 887 251 787 968 For 2012 (1) 3 773 693 0 1 070 014 -1 421 022 For 2011 (2) 1 736 834 0 23 347 086 -21 310 227 3 773 693 For 2012 (1) 2 726 125 -686 496 2 039 629 5 411 000 -2 684 875 2 726 125 iii¡; Long-term - total including: stocks and shares of subsidiaries 9 363 Stocks and shares of affiliates 9 363 Other 30 3 422 715 Short-term - total including: Debt securities (bonds, notes) Provided loans For 2011 (2) For 2012 (1) 989 561 1 068 493 -685 521 1 372 533 For 2011 (2) 844 005 2 027 509 -1 881 953 989 561 For 2012 (1) 58 007 1 521 -49 005 For 2011 (2) 892 829 15 908 577 -16 743 399 For 2012 (1) 4 819 450 798 087 1 076 430 -1 421 058 0 4 474 852 798 087 For 2011 (2) 2 782 595 797 331 23 356 449 -21 319 594 9 363 4 819 450 798 082 30 10 553 Other 58 007 etc. Financial investments - total OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. 3.7 Stocks Stocks shall be accounted at their actual cost (in the amount of actual costs of their acquisition). Evaluation of exclusion cost for stocks is carried at the average cost. A way to calculate an average value is connected with planned evaluation, performed at the end of a month. The Corporation does not have stocks, become obsolete or wholly or partially lost their initial value, or stocks with decreased current market value on its balance as of December 31, 2012. Therefore, the reserve for impairment of tangible assets was not created by the Corporation as of 31 December 2012. 3.8 Costs, non-finished production and finished goods Non-finished production is assessed on the basis of total actual costs, including the appropriate proportion of general costs. General costs are allocated to orders monthly in proportion to values of elements, included in the section "Labor costs", direct production costs, other costs, connected with provision of Corporation assets for temporary use and costs of planned projects for a reporting month. 3.9 Prepaid costs Costs, incurred by the Corporation during the reporting period, but related to future periods are accounted as prepaid costs. The structure of prepaid costs includes: Costs for obtaining licenses for certain activities; Costs for non-exclusive rights to use software products; Costs, connected with the organization of construction works. These costs are charged uniformly by appointment or by special calculations for periods to which they relate. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Stocks Availability and transfer of stocks Changes for a period At the beginning of the year At the end of a period Excluded Indicator Period Income and costs cost value impairment reserve value impairment losses stock turnover between their groups (types) cost value impairment reserve value For 2012 (1) 9 983 696 0 27 564 424 -21 223 239 0 X 16 324 881 0 For 2011 (2) 5125 734 0 24 165 195 -19 289 820 -17413 X 9 983 696 0 For 2012 (1) 257 591 0 1 082 735 -641 557 698 769 0 For 2011 (2) 307 306 0 571 231 -605 190 257 591 0 For 2012 (1) 9 559 880 0 26 022 561 -20 112 555 15 469 886 0 For 2011 (2) 4 810 469 0 23 014 459 -18 265 048 9 559 880 0 cost value iii¡; impairment reserve value Stocks - total including: Raw materials and supplies -15 756 Non-finished production For 2012 (1) 0 0 0 For 2011 (2) 0 0 0 10 110 0 7 544 0 Prepaid costs Finished goods and goods for resale For 2012 (1) 7 544 0 392 500 -389 934 For 2011 (2) 7 959 0 342 601 -341 359 For 2012 (1) 158 681 0 66 628 -79 193 146 116 0 0 236 904 -78 223 158 681 0 -1657 Other For 2011 (2) Etc. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Pledged stocks Indicator As of December 31, 2012 (4) As of December 31, 2011 (2) As of December 31, 2010 (5) . Stocks, not paid at the reporting date - total including: pledge agreements iii¡; Etc. Stocks, pledged under a corresponding agreement - total 0 974 875 1 348 625 0 974 875 1 348 625 including: Raw materials and supplies Non-finished production Finished goods and goods for resale Other Etc. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. 3.10 Trade receivables Trade receivables are determined on the basis of prices, set by agreements between the Corporation and purchasers (customers), including VAT. Line 1230 "Receivables" of the balance sheet includes receivables (net of reserves for doubtful debts) in the amount of 1,115,986 roubles as of 31.12.2012. Accounts receivable include advances for future settlements, paid to other organizations in accordance with contractual terms. The amount of advances is 18,113,512 thousand roubles as of December 31, 2012. 3.11 Cash resources In accordance with the Order of the Ministry of Finance No. 66n "On forms of accounting in organizations", dated 02.07.2010, and P.18. AR 23 "Statement of Cash Flows", indicators of cash flows of an organization shall be reflected, using the Russian currency - roubles. Cash flow values, indicated in a foreign currency, shall be converted into roubles at an official exchange rate of foreign currencies, established by the Central Bank of the Russian Federation on the date of payment or payment receipt. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Receivables and payables. Availability and flow of receivables. At the beginning of the year Indicator Period Proceeded in result of interest, accounted in reserve value transactions penalties and terms of a for doubtful (debt for a other charges contract debts transaction, to be received operation)8 Changes for a period Excluded At the end of a period repayment cancellation for a financial result8 reserve recovery transfer from iii¡;to accounted in reserve value long-term for doubtful short-term debt terms of a contract debts For 2012 (1) 3 327 562 0 1 742 191 -737 127 0 2 396 -2 582 324 1 752 698 0 For 2011 (2) 1 379 118 -50 830 3 322 093 -137 610 0 50 830 -1 182 849 3 327 562 0 For 2012 (1) 0 0 6 440 0 2 396 0 8 836 0 For 2011 (2) 56 670 -50 830 8 -3 488 0 50 830 -53 190 0 0 For 2012 (1) 3 317 252 0 1 735 751 -734 928 0 -2 582 324 1 735 751 0 For 2011 (2) 1 308 206 0 3 322 085 -130 190 0 -1 182 849 3 317 252 0 For 2012 (1) 10310 0 -2 199 0 0 8 111 0 For 2011 (2) 14 242 0 -3 932 0 0 10 310 0 Long-term receivables - total including: Buyers and customers Advances, issued Other debtors Etc. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Receivables and payables. Availability and flow of receivables (continuation) At the beginning of the year Indicator Changes for a period Proceeded accounted in reserve value terms of a for doubtful contract debts in result of transactions (debt for a transaction, operation)8 For 2012 (1) 10 908 107 -144 057 For 2011 (2) 10 896 917 For 2012 (1) Period interest, penalties and other charges to be received At the end of a period Excluded repayment cancellation for a financial result8 reserve recovery 13 989 291 -9 270 725 -325 144 057 -272 375 8 130 149 -8 170 047 -2 102 336 116 -73 096 1 067 874 -296 840 For 2011 (2) 459 823 -272 375 276 572 -453 467 -2 For 2012 (1) 10 061 152 0 12 361 923 -8 627 326 -312 For 2011 (2) 9 892 468 0 7 343 606 -7 174 900 -22 For 2012 (1) 510 839 -70 961 559 494 -346 559 -13 For 2011 (2) 544 626 0 509 971 -541 680 -2 078 For 2012 (1) 14 288 859 -197 247 15 731 482 -10 058 646 -325 146 453 For 2011 (2) 12 276 035 -323 205 11 452 242 -8 307 657 -2 102 323 205 transfer from long-term to accounted in reserve value for doubtful short-term debt terms of a iii¡; contract debts 2 582 324 18 208 672 0 272 375 10 908 107 -144 057 73 096 1 107 150 0 53 190 336 116 -73 096 2 582 324 16 377 761 0 10 061 152 0 Short-term receivables - total including: Buyers and customers 272 375 Advances, issued 70 961 723 761 Other debtors Etc. 510 839 -70 961 X 19 961 370 0 X 12 276 035 -197 247 OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Overdue receivables As of December 31, 2012 (4) As of December 31, 2011 (2) As of December 31, 2010 (5) Indicator accounted under the terms of a contract balance value accounted under the terms of a contract balance value Total 333 910 including: Buyers and customers 333 910 205 004 333 711 333 711 134 043 199 199 70 961 Advances, issued Other debtors accounted under the terms of a contract balance value 60 947 169 882 119 096 60 947 169 882 119 096 iii¡; OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. 3.12 Capital and reserves The value of the share capital is 1,123,734 roubles and it was not changed in 2012. According to a decision of the general meeting of shareholders, dividends in the amount of 314,645.5 thousand roubles are accrued on the basis of results of the Corporation for 2011. The Corporation charter provides establishment of a reserve fund in the amount of not less than 5% of an authorized capital. The fund is formed by compulsory annual deductions, amounting to at least 5% of net profit. 3.13 Long-term liabilities Line 1410 of the balance sheet ("Borrowings" section) shows total bank loans with maturities of more than 365 days as of 31.12.2012. 3.14 Credits and loans Costs on received loans and credits are recognized as costs of a period in which they are incurred (current costs) and are included in other costs. Additional costs, incurred in connection with loans and credits, are included in other costs as incurred. Interest on loans is accrued evenly (monthly) and is recognized as other costs in accounting periods to which these accruals refer. The Corporation transfers long-term debts on received loans and credits to short at the moment when the terms of a contract provide principal repayment within 365 days. Line 1510 "Borrowings" reflects receivables of the Corporation under loan agreements, signed with banks, with maturity of less than 365 days as of 31.12.2012. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Availability and flow of accounts payable Indicator Long-term receivables total including: Credits and loans Period For 2012 (1) At the beginning of the year - Proceeded as a result of interest, penalties transactions and other charges (transaction, to be received 9 operation debt) - Changes for a period Excluded repayment 0 transfer from longcancellation for a term to short-term financial result9 debt 0 At the end of a period 0 iii¡; For 2011 (2) - - - 0 0 0 - For 2012 (1) - - - 0 0 0 - For 2011 (2) - - - 0 0 0 - For 2012 (1) - - - 0 0 0 - For 2011 (2) - - - 0 0 0 - For 2012 (1) 27 208 174 26 854 505 -12 781 109 -1 143 41 280 427 For 2011 (2) 19 556 779 19 772 578 -12 121 023 -160 27 208 174 For 2012 (1) 2 063 781 2 156 059 -2 049 742 -1 075 2 169 023 For 2011 (2) 1 809 169 2 060 039 -1 805 360 -67 2 063 781 For 2012 (1) 24 601 436 24 024 448 -10 194 224 0 38 431 660 For 2011 (2) 17 170 927 17 173 617 -9 743 108 0 24 601 436 For 2012 (1) 542 957 673 998 -537 143 -68 679 744 For 2011 (2) 576 683 538 922 -572 555 -93 542 957 For 2012 (1) 27 208 174 26 854 505 -12 781 109 -1 143 X 41 280 427 For 2011 (2) 19 556 779 19 772 578 -12 121 023 -160 X 27 208 174 Other Short-term receivables total including: Buyers and customers Advances, issued Other debtors Total 0 OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Overdue accounts payable Indicator As of December 31, 2012 (4) As of December 31, 2011 (2) As of December 31, 2010 (5) Total 141 084 143 312 287 740 including: Buyers and customers 141 084 143 312 287 740 Other Etc. 3.15 Taxation Value-added tax A value added tax (VAT) for goods, products, works and services is calculated on the date of actual shipment (delivery) of such goods, products, works and services. Income tax For purposes of income tax calculation revenues are recognized in a reporting (tax) period in which they occurred, regardless of the actual receipt of cash or other assets (works, services) and (or) property rights (accrual basis). The income tax, determined on the basis of accounting profit (conditional costs on the income tax) amounted to 218,980 thousand roubles and 333,870 thousand roubles in 2012 and 2011, respectively. Current income tax is recognized in line 2410 "Report on financial results". It amounted to 345,739 thousand roubles in 2012 and 446,291 thousand roubles in 2011. 3.16 Deferred taxes The Corporation reflects deferred tax assets and liabilities, permanent tax assets and liabilities in accounting and reporting documents, i.e. amounts which can influence a value of the income tax in current and / or future reporting periods. Permanent differences Permanent differences in Corporation accounting resulted from the excess of actual costs, taken into account in the process of formation of accounting profit (loss) over costs, deductible for tax purposes, imposing restrictions on costs and other differences. The sum of permanent tax liabilities (asset), calculated on the basis of temporary differences, is recorded in line 2421 "Report on financial results" and amounted to 145,330 thousand roubles in 2012 and 117,038 roubles in 2011 (recorded in line 2421 "Report on financial results"). OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Deductible temporary differences Deductible temporary differences amounted to 1423.35 thousand roubles in 2012, resulted due to differences in: - recognition of targeted funding for accounting and tax purposes; - recognition of OPH losses in accounting and taxation; - recognition of other income and costs for accounting and tax purposes. Changes in deferred tax assets are reflected in line 2450 "Report on financial results" with a total of 28,427 thousand roubles for 2012 and 33,493 thousand roubles for 2011. Taxable temporary differences Taxable temporary differences amounted to 164,990 thousand roubles in 2012, resulted due to differences in: - assessment of non-finished production in accounting and taxation; - recognition of R&D costs in accounting and taxation; - amortization of fixed assets in accounting and taxation; - recognition of other income and costs in accounting and taxation. Changes in deferred tax liabilities are reflected in line 2430 "Report on financial results" with a total of 32,998 thousand roubles in 2012 and 20,110 thousand roubles in 2011. 3.17 Prepaid income Line 1530 "Prepaid income" of the balance sheet reflects the amount of target funding of 411,939 thousand roubles as of 31.12.2012. 3.18 Recognition of income (revenue) Revenue from service rendering (works rendering) is recognized as services are provided to customers and payment documents are submitted to them (or at the end of works performance). It is reflected in financial statements net of the value added tax, excises and similar payments. Accounting documents of the Corporation recognize revenue from works performance, rendering of services, selling of products with a long manufacturing cycle on completion of such works, services, products manufacture in general. Other types of income of the Corporation can include: income, related to provision of assets of the Corporation for temporary use; income, related to provision of rights arising from patents on inventions, industrial designs and other intellectual property of the Corporation for a corresponding payment; OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. income, related to participation in the authorized capital of other organizations; income from the sale of fixed assets, stocks, investments, foreign currency; interest, received from granting of funds of the Corporation for use; difference between the original and nominal value of securities. OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. 3.19 Production costs Indicator Line code For 2012 For 2011 Material costs Costs for salaries Social benefit costs Amortization Other costs Total, for elements 5610 5620 5630 5640 5650 5660 19 191 099 4 699 430 1 197 998 260 513 10 967 622 36 316 662 17 178 709 4 146 940 1 053 174 212 753 10 635 926 33 227 502 Change in balances (increase [-1-], decrease [-]): non finished production 5670 +5 910 006 +4 833 861 5680 +2 566 36 316 662 -415 33 227 502 Finished products Other Total costs from ordinary activities 5600 Acquisition (production) costs and costs for use of energy resources Thousand roubles Total costs for 2012 Type of energy resource 2011 Use Acquisition (production) Use For production For other purposes purposes Acquisition (production) For production purposes For other purposes Energy, including 182 823.0 161 417.4 21 405.6 171 369.7 150 839.0 20 530.7 -electric 73 100.2 65 263.8 7 836.4 67 091.0 59 898.8 7 192.2 -thermal 89 279.4 76716.0 12 563.4 89 685.3 77 064.8 12 620.5 -other 20 443.4 19 437.6 1 005.8 14 593.4 13 875.4 718.0 FUEL, including 26 800.0 26 800.0 0.0 21 249.5 21 249.5 0.0 -liquid: 26 800.0 26 800.0 0.0 21 249.5 21 249.5 0.0 -solid: 0.0 0.0 0.0 0.0 0.0 0.0 -gaseous: 0.0 0.0 0.0 0.0 0.0 0.0 Other 0.0 0.0 0.0 0.0 0.0 0.0 Total 209 623.0 188 217.4 21 405.6 192 619.2 172 088.5 20 530.7 OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. 3.20 Other income and costs Thousand roubles Other income / costs 2012 Income 2011 Costs Income Costs Income and costs, connected with provision of assets of the Corporation for temporary use 246 698 158 487 243 946 101 941 Gains and losses of previous years, identified in the reporting year 158 051 178 065 867 74 256 Exchange and value differences 234 054 320 250 272 741 234 580 Additional costs for the Corporation staff (premium, material aid sums, etc.) - 278 860 - 173 615 Costs for works and services on terminated or nonconcluded agreements, performed at the expense of the Corporation - 4 261 - 48 182 Bank services - 26 599 - 20 511 Sale of fixed assets 5 932 30 817 684 1 253 Sale of other assets 2 474 132 2 487 574 4 236 509 4 239 809 Costs, associated with obtaining of loans and credits - 23 796 - 19 255 Reserves for doubtful debts - - . 144 057 Reserves for impairment of financial investments - - 756 Fines, penalties, taxes and charges, carried out at the own expense of the Corporation - 796 - 338 Income from recovery of unused reserves for doubtful debts 93 258 - 323 205 - Saves on investment projects 499 209 - 326 720 - Other income (costs) 146012 536 356 101 150 536 744 Total, other income / costs 3 857 346 4 045 861 5 505 822 5 600 410 OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. 3.21 Profit per share The amount of basic profit per share is 0.675 thousand roubles. Basic profit in the amount of 758,891 thousand roubles is used for the calculation together with the weighted average number of ordinary shares in the amount of 1,123,734. The number of ordinary shares was not changed during 2012. The statement of financial results does not show diluted earnings per share, as the Corporation does not have any convertible securities and contracts of sale/purchase of ordinary shares from their issuer on its balance. 3.22 Securing of liabilities As of December 31, As of December 31, 2011 2012 (4) (2) Indicator Received - total As of December 31, 2010 (5) 23 818 754 130 015 0 23 818 754 130 015 3 507154 4 554 862 1348625 1 023 000 1 348 625 including: Deposit Contract of bank guarantees, surety agreement Etc. Issued - total including: Deposit 3 507 154 Surety agreement 3 531 862 Etc. 3.23 Related parties Subsidiaries and affiliates List of subsidiaries of "RSC" Energiya" Name Income from Value of the Corporation Corporation equity Place of registration of the participation share capital of equity interest as interest as of company / location in 2012, th. the company of 31.12.2012 31.12.2012 (%) roub. 1 2 3 4 5 6 CJSC "ZEM RSC "Energiya" Mosc. oblast Korolev, Lenina st. 4a 40 000 th. roub. 40 000 th. roub. 100 27 290,8 CJSC "VKB RSC "Energiya" Samara, Zemetsa st. 26 "B" 10 000 th. roub. 10 000 th. roub. 100 — CJSC "PO "Kosmos" Moscow, Borovskoe Highway 200 th. roub. 200 th. roub. 100 — OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Income from Value of the Corporation Corporation equity Place of registration of the participation share capital of equity interest on interest on company / location in 2012, th. the company 31.12.2012 31.12.2012 (%) roub. Name 1 3 3 2 4 5 6 Vnukovo 3, bld. 1, pr. 1 — LLC "IC "Razvitie" Mosc. oblast Korolev, Lenina st. 4a LLC "RSC "Energiya Finance" Mosc. oblast Korolev, Lenina st. 4a 500 th. roub. 500 th. roub. 100 CJSC "Teplo RSC "Energiya" Mosc. oblast Korolev, Lenina st. 4a 50 000 th. roub. 50 000 th. roub. 100 6 150 th. roub. 6 150 th. roub. 100 — — — Minsk, P. Brovki 15, bld. 5, CJSC "BELROSSAT" of. 416 25 000 $ 17 500 $ 70 16 874.3 th. roub. 10 968.3 th. roub. 65 — LLC "OIME" Mosc. oblast Korolev, Lenina st. 4a LLC "IPROVEN" RSC "Energiya" Mosc. oblast Korolev, Lenina st. 4a CJSC "EnergiyaTelecom" Mosc. oblast Korolev, Lenina st. 4a — 10 th. roub.. 5.1 th. roub.. 51 — 1 000 th. roub. 501.0 th. roub. 50,1% The corporation forms consolidated financial statements, combining financial statements of the Corporation and its subsidiaries, including information on affiliates. All subsidiaries are incorporated in the Russian Federation. List of affiliates of OJSC "RSC "Energiya" Name Corporation Value of the Corporation Place of registration of the equity interest share capital of equity interest on company / location on 31.12.2012 the company 31.12.2012 (%) 1 2 LLC "Experiment" Mosc. oblast Korolev, 3 20.225 th. roub. Income from participation in 2012, th. roub. 4 5 6 10.0 th. roub. 49,48 44,2 OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. Corporation Value of the Corporation Place of registration of the equity interest share capital of equity interest on company / location on 31.12.2012 the company 31.12.2012 (%) Name 1 2 Lenina st. 4a 3 4 5 OJSC "Consortium "Kosmicheskaya Regata" Mosc. oblast Korolev, Lenina st. 4a OJSC "NPK "REKOD" Moscow, 3-rd passage Maryina Roscha 40, corp. 6, building 1 110 867 th. roub. 29 457 th. roub. 26,57 CJSC "Astrasystems" Moscow, Barrikadnaya st. 8/5 3 000.0 th. roub. 756.0 th. roub. 25,2 99 000 000 tenge 49,5 100.0 th. roub. 30.0 th. roub. Almaty, Republic of 140 000 000 JSC CRISP "Aelita" Kazakhstan, Furmanova st. tenge 50 Income from participation in 2012, th. roub. 6 30,0 242,9 All affiliates are incorporated in the Russian Federation. The Company's share in the charter capital of subsidiaries was not changed in the reporting year. Operations with related parties The Corporation performed works and rendered services to the following related parties during the reporting year: th. roubles Name of an affiliate Nature of the relationship Sales volume (excluding VAT) in 2012 CJSC "ZEM RSC "Energiya" Provision of significant impact 183 822.9 CJSC "PO "Kosmos" Provision of significant impact 5 429.5 LLC "OIME" Provision of significant impact 3 088.2 CJSC "Teplo RSC "Energiya" Provision of significant impact 21 241.1 Total 213 581.7 The following affiliates provided services (completed works) for the Corporation during the year: th. roubles Name of an affiliate Nature of the relationship Sales volume (excluding VAT) in 2012 OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. CJSC "ZEM RSC "Energiya" Provision of significant impact 10 355 155.0 CJSC "Teplo RSC "Energia" Provision of significant impact 297 178.0 CJSC "VKB RSC "Energiya" Provision of significant impact 12 960.0 Total 10 665 293.0 As of December 31, 2012, the corporate debt for settlements with subsidiaries amounted to: t h . ro u b l es Accounts receivable Company name Accounts payable 2012 2011 2012 2011 CJSC "ZEM RSC "Energiya" 13 510 208.7 10 056 410.0 376 707.2 377 282.0 LLC "OIME" 1 755.6 191.0 - 978,0 LLC "IPROVEN" 46.3 45.0 - - LLC "IC "Razvitie" 7.3 - - - CJSC "PO "Kosmos" 90 985.2 112 360.0 16 820.2 2 414.0 CJSC "VKB RSC "Energiya" 104 516.1 79 866.0 - 3 627 LLC "RSC "Energiya Finance" 4D - - - CJSC "Teplo RSC "Energiya" 234 661.7 232 787.0 70 546.4 15 406.0 CJSC "Energiya-Telecom" - - 930.7 5 563.0 Prices for products, goods, works and services, provided to the Corporation by its subsidiaries and delivered by the Corporation to its subsidiaries, are set on the basis of contracts, concluded in accordance with market prices. The Corporation accounts with its subsidiaries in cash. As of 31.12.2012 and 31.12.2011 the Corporate debt settlements with subsidiaries were as follows: t h . ro u b l es Form of indebtedness December 31 2012 13 942 185.0 - 2011 465 004.5 - - - - Receivables, acquired under contracts of assignment - - Accounts payable 465 004.5 405 270.0 Accounts receivable, including - Noninterest-bearing loans - Noninterest-bearing notes The amount of interest, accrued in 2012 for loans, issued by the Corporation to its subsidiaries, amounted to 1 817.5 thousand roubles (CJSC "Teplo RSC "Energiya") The amount of interest, accrued for loans, issued by the Corporation to its largest related organizations (LLC "Energiya Overseas", LLC "Energiya-Logistics") was 87 280.5 thousand roubles and 35 363.5 thousand roubles in 2012 and 2011, respectively. The Corporation issued loans to its largest subsidiary and other organizations at rates, ranging from OJSC «RSC Energiya» Notes to the balance sheet and financial results for 2012. 7.0% to 12.0% and from 4.0% to 10.0% in 2012 and 2011, respectively. The amount of interest, accrued on the notes, issued by major related parties, amounted to 151 836.5 thousand roubles and 35 110.2 thousand roubles in 2012 and 2011, respectively. Remuneration of the President is approved by the Chairman of the Board of Directors of the Corporation. Remuneration of members of the Board of Directors of the Corporation is approved by the General Meeting of Shareholders. 3.24 Estimated liabilities The balance sheet for 2011 contains line 1430 "Estimated liabilities" (in the amount of 312,255 roubles as of 31.12.2011), reflecting estimated liabilities for unused leaves; the amount, indicated in line 1540 "Estimated liabilities" in the balance sheet reflects estimated liabilities for 2012 as of 31.12.2012. Estimated liabilities for unused leaves of employees of the Corporation is reflected in line 1540 "Estimated liabilities" of the balance sheet for 2012 as of 31.12.2012 in the amount of 307,795 thousand roubles. Estimated liabilities Indicator Balance at beginning of year Accepted Repaid Excluded as surplus amount End period balance Estimated liabilities - total 312 255 2 024 -6 484 0 307 795 Including: Estimated liabilities for leaves 0 0 Estimated liabilities for onerous contracts 0 0 Estimated liabilities for reorganization 0 0 Estimated liabilities for quality guarantees of sold products 0 0 Estimated liabilities for leaves 3.25 312 255 2 024 -6 484 307 795 Contingent assets and liabilities The Corporation has no contingent assets and liabilities as of December 31, 2012.. 3.26 Events after the reporting date The Corporation didn't face any events which are likely to have a significant impact on the financial condition, cash flows or results of operations of the Corporation in the period between the reporting date and the date of financial statements signature. President: V.A. Lopota /signature/ Chief Accountant: E.M. Korogodina /signature/ Stamp: Open Joint Stock Company "Rocket and Space Corporation "Energiya", the Russian Federation, Korolev, Moscow Oblast, OJSC "RSC Energiya". AUDITORS' REPORT On accounting (financial) statements of "RSC "Energiya" for 2012, addressed to shareholders of "RSC "Energiya" and other users of statements HLB PACC-Audit Closed Joint Stock Company "H L B PACC-Audit" Member of a self-controlled organization of auditors of the non-commercial partnership "Institute of Professional Auditors" (IPAR), certificate no. 34, included in the register of auditors and audit firms of the aforesaid organization of auditors on 28.12.2009 with a primary registration number 10302022506 The Certificate of State Registration of a Closed Joint Stock Company "H L B PACC-Audit" No. 549063, issued on November 13, 1995 by the Moscow Registration Chamber Location: 109341, Moscow, Verhnie Polya st. 18, prem. 6 Postal address: 123610 Moscow, Krasnopresnenskaya nab. 12, ITC. This report is addressed to shareholders of" RSC "Energiya" and other users of financial statements Information about an audited entity: Name Main state registration number Location OJSC «RSC «Energiya» 1025002032538 141070, Moscow oblast, Korolev, Lenina st. 4a Information about an auditor: Name Main state registration number Location Postal address Name of the a self-controlled organization of auditors Main registration number in a registry of audit organizations CJSC "HLB PACC-Audit" 1027739402096 109341, Moscow, Verhnie Polya st. 18, prem. 6 123610 Moscow, Krasnopresnenskaya nab. 12, ITC NP "IPAR", certificate no. 34 10302022506, dated 28.12.2009 We have audited the accompanying financial statements of "RSC" Energiya" for 2012. The financial statements of "RSC" Energiya" for 2012 consist of: balance sheet as of 31.12.2012, report on financial results for 2012, statement of changes in equity for 2012 , statement of cash flows for 2012, notes to the balance sheet and the financial results report for 2012: Responsibility of an entity for financial statements Management of an audited entity is responsible for preparation and fair presentation of these financial statements in accordance with corresponding accounting standards and for internal control, necessary for preparation of financial statements, which are free from material misstatement, whether due to fraud or errors. Auditor's responsibility Our responsibility is to express an opinion on these financial statements on the basis of our audit. We conducted our audit in accordance with federal auditing standards. These standards require that we shall comply with ethical requirements and requirements towards planning and performance of the audit, used to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit procedure involves performance of measures, used to obtain audit evidence, proving indicators and disclosing information in financial statements. The choice of audit procedures is a part of the auditor's judgment, based on assessment of risks of material misstatement, whether due to fraud or errors. The process of risk assessment includes our consideration of a system of internal control, providing preparation and fair presentation of financial statements, made in order to perform appropriate audit procedures, but not for a purpose of expressing an opinion on effectiveness of internal control. The audit procedure also includes evaluation of appropriateness of used accounting policies and reasonableness of estimates made by the management, as well as evaluation of an overall presentation of financial statements as a whole. We believe that the audit evidence provides a reasonable basis for our opinion on aforesaid financial statements. Opinion In our opinion, financial statements of "RSC "Energiya" present information on financial position of "RSC "Energiya" fairly, in all material respects as of December 31, 2012. Statements also provide results of operations and cash flows for 2012 in accordance with accounting standards of the Russian Federation. Director of a department of an audit company "HLB PACC-Audit" I.G. Marich /signature/ Stamp On the basis of the power of attorney No.5, dated January 18, 2012. Auditor qualification certificate No. 02-000108, dated 22.02.2012, unlimited term, member of the NP "MPAR", membership certificate No. 629, dated 15.04.2005, ORN No. 20002001681 March 28, 2013 OPEN JOINT STOCK COMPANY "ROCKET AND SPACE CORPORATION "ENERGIYA", NAMED AFTER S.P.KOROLEV AUDIT COMMITTEE Korolev, Moscow Oblast 11.04.2013 Members of the Audit Committee of "RSC "Energiya" are elected by the Annual General Meeting of Shareholders on 23 June 2012: Barinov S.A., Eliseeva L.V., Emelyanov V.S., Oreshkin O.A., Petrov M.N., Pleshakov O.Y., Polezhaev E.P., Solonin A.M., Tushunov D.Y., pursuant to authorities, set by the corresponding Federal Law "On Joint Stock Companies", charter of "RSC "Energiya" and the Regulations on the Audit Commission. All members audited financial and economic activities of "RSC" Energiya" for 2012. The audit was conducted in respect of annual reports of "RSC "Energiya" for the period from January 1, 2012 to December 31, 2012. The analysis was conducted on the basis of documents, accounting and tax records, registers and explanations, provided by the management of the Corporation. The analysis involved checks of information disclosure on financial and economic activities, evaluation and accounting practices, as well as rules for financial (accounting) statements and annual reports creation. Financial (accounting) statements and annual reports were checked in the process of such analysis. The Audit Commission used spot check methods for individual operations. All analysis results are set out in an explanatory note of the Audit Commission for activity of the OJSC "RSC "Energiya" in 2012. CONCLUSION Based on the results of an audit of financial and economic activity of OJSC "RSC "Energiya", checking the results of activity for 2012, the Audit Commission concludes that: 1. Financial statements for 2012 present fair (in all material respects) financial position of "RSC "Energiya" and results of its operations for the period from January 01, 2012 to December 31, 2012; 2. Presented annual report of "RSC "Energiya" for 2012 contains reliable information in its essential provisions, the description of which is stipulated by the legislation of the Russian Federation; 3. Violations of the Federal Law "On Joint Stock Companies", charter of "RSC" Energiya", decisions of the General Meeting of Shareholders, Board of Directors, caused negative effects of "RSC" Energiya", were not detected. Head of the Committee S.А. Barinov
