“Artsakh HEK” OJSC
Quarterly report, I quarter, 2012
«ARTSAKH HEK» OJSC
QUARTERLY REPORT
(for the I quarter, 2012)
Stepanakert, 2012
“Artsakh HEK” OJSC
Quarterly report, I quarter, 2012
MANAGEMENT BODIES QUARTERLY REPORT
The description of the important events occurred in the reporting period and their influence on financial
reports, including those basic risks which the Issuer may face in the next reporting period. The important
events are the events, which influenced the financial situation, also the ones which are important from the
point of view of the Issuer and (or) the ones the reasonable investor would take into account while
making decisions on future investments.
The basic type of the company’s activity is the production of the electrical power.
Basically, the company faces the following risks and uncertainties:
Foreign exchange risk
These risks include the possibility of significant changes exchange rate of AMD and foreign currency, as
well as the possibility of intervention or changes from Republic of Armenia and NKR financial
institutions.
Climatic conditions risk
Climatic conditions have a significant impact on the company. The company's profit is largely due to
the volumes of water flow.
Despite the fact that the analysis of indicators of water volumes for the past couple of years makes it
possible to make quite accurate predictions, the volumes of the company's profits and hence
the Company's financial results are due to climatic factors.
The risks and uncertainties mentioned will also affect the next reporting period.
“Artsakh HEK” OJSC
Quarterly report, I quarter, 2012
The company has produced 21.220.630 kW/h of electricity for the reporting period, which is 75% of the
production produced within the same period last year. Out of the total electricity produced 17.092.800
kW/h was produced in Sarsang HPP, 4.127.830 kW/h in Trghi Coordinated Hydroelectric System HPP.
The volumes of «Artsakh HEK» OJSC loans for the I quarter, 2012
Creditor
Table 1
New loans
Repaid
“Armswissbank” CJSC
-
16,666,666.5 AMD
“Artsakhbank” CJSC
B.Beglaryan (individual)
-
415,449.35 USD
100,000,000 AMD
The summary financial indicators and ratios are shown in Tables 2 and 3:
TOTAL FINANCIAL INDICATORS for the I quarter, 2012.
Indicators
Table 2
Thousands drams
Indicators
228136
Production realization profit
-108736
Production cost
-371
Sales expenses
-44527
Administrative expenses
74332
Operating profit
32151
Profit for the I quarter, 2012
820077
Accounts receivable
3372702
“Artsakh HEK” OJSC
Quarterly report, I quarter, 2012
TOTAL FINANCIAL RATIOS for the I quarter, 2012
Table 3
Indicators
Earnings per share (EPS)
Return on equity (ROE)
Return on assets(ROA)
Net profit margin (NPM)
Capital adequacy ratio
Financial dependence ratio
Cash ratio
Current assets turnover ratio
Total assets turnover ratio
Receivables turnover
Days sales outstanding
Inventory turnover ratio
The period of inventory turnover
Payables turnover
Period of turnover in accounts payable
01.04.2012.
3.02
2.7%
2.1%
14.1%
77.8%
28.5%
0.07
1.3
1.4
0.68
540.68
2.7
134.27
0.31
11786.2
The Company would mark out the following events for the reporting quarter:
• On January 5, 2012 the Company held an official ceremony of Trghi-2 HPP opening with the
participation of the presidents of Republic of Armenia and NKR.
• On February 7, 2012, the Company held the meeting of the members of the Board of Directors in
the form of absentee vote, which decided to set up a competition committee for the selection of
applications of the independent auditing company for the Company’s annual financial statements
audit for 2012 in the following composition:
1. S. Tevosyan - Chairman of the Board of Directors
2. E. Ohanjanyan- Member of the Board of Directors
3. A. Petrosyan- Chairman of the Company’s Revising Committee
“Artsakh HEK” OJSC
Quarterly report, I quarter, 2012
On March 24th, 2012, the Board of Directors of OJSC Artsakh HEK held a regular meeting.
The following decisions were taken:
1. To approve the candidacy of «Fintech» CJSC (Republic of Armenia) as the Company's auditor
for 2012 and present it at the General Meeting of Shareholders.
2. The Board of Directors of «Artsakh HEK» OJSC approved conveying the regular General
Meeting of the Shareholders, specifying the date of holding the meeting as: April 30, 2012 and
the place of holding the meeting as: 63, Tumanyan Str., Stepanakert.
3. To approve the date and time of shareholders registration as April 30, 2012; 11:00, the place 63,
Tumanyan Str., Stepanakert, NKR
4. To make the list of shareholders eligible to participate in the meeting based on the register of
shareholders as at March 24, 2012.
5. To approve the agenda of the General Meeting of the Shareholders.
On April, 30, 2012 the Company held the General Meeting of Shareholders.
The following decisions were taken:
1. To appoint “FINTECH Audit” CJSC as a company realizing audit of financial and economic
activities for the year of 2012
2. To approve “Artsakh Hek” OJSC financial and economic activity annual statements, accounting
balances, profits and losses, allocation of profits and losses for the year of 2011, including the
dividends size of 5% of annual profitability, 5% of net profit as deductions to the General
Reserve, net surplus of 16 928 000 (sixteen million nine hundred twenty-eight thousand ) AMD.
3. Based on the results of 2011 to pay dividends to the Company shareholders at the rate of 50 AMD
for one share, to start the payment on May 21, 2011.
4. To approve the amendment in the «Artsakh HEK» OJSC charter (the change in the
the quantitative composition of the Board of Directors). To the General Director: to submit the
necessary documents to the Stepanakert Department of the State Register department of NKR
Ministry of Justice to register the mentioned amendment within the procedures established by
law.
5. To elect the Board of Directors in the following composition:
1.
2.
3.
4.
5.
6.
7.
Spartak Tevosyan
Karen Arabyan
Hayk Beglaryan
Raffi Balyozyan
Arman Hakobyan
Emin Ohanjanyan
Vahram Beglaryan
“Artsakh HEK” OJSC
Quarterly report, I quarter, 2012
2) The perspective of the Issuer’s further development for the next reporting period:
The Company's projected production for the 2nd quarter 2012 is the following:
•
•
•
•
Projected production at Sarsang HPP -19,170,000kW/h
Projected production at «Trghi Coordinated Hydroelectric System» HPP -12,350,000 kW/h
Projected production at «Mataghis -1» HPP- 2,040,000 kW/h
Projected production at «Mataghis -2» HPP- 1,300,000kW/h
Responsibility Statement:
We confirm to the best of our knowledge that:
a) The financial statements give a true and fair view of the assets, liabilities, financial position, and
profit or loss of “Artsakh HEK” OJSC;
b) The management report includes a fair review of the development and performance of the
business and undertakings included into the consolidation taken as a whole.
Name
Position
Job description
As a General Director:
Vahram Beglaryan
Member of the Board of
Directors, General Director
manages the property of the company,
including financial recourses, makes
transaction on behalf of the Company
presents the Company in NKR and
abroad
works without power of attorney
gives a power of attorney
signs contracts, including employment
contracts, opens current, foreign
currency and other accounts in the
banks
submits for Board's approval the
Company's working rules, policies of
separate departments and institutions,
Company’s organizational chart
issues orders and necessary
instructions, within his power, follows
their performance
hires and dismisses Company's
employees in accordance with the
established procedures
applies incentives and disciplinary
actions in accordance with the
established procedures
As a Member of the Board of Directors
participates in the meetings of the
Board
participates in the voting decisions of
the Board
Spartak Tevosyan
Chairman of the Board of
Directors
Emin Ohanjanyan
Member of the Board of
Directors
organizes the work of the Board
convenes the Board’s meetings and
chairs them
organizes the drawing of the minutes of
the Meeting
chairs the General Meeting of the
Shareholders
participates in the meetings of the
Board
participates in the voting decisions of
the Board
plans the HPPs electrical power
production and develops the operating
modes
Technical Director
Zhan Hovhanessyan
Finance Director
management of financialeconomic activity of the company
Araik Davtyan
Chief Accountant
provides accounting, timely
preparation and submission of financial
statements
contributes to maintaining the
company's property, to controlling the
maintenance of the material, human
and finance resources of the company
organizes accounting policy of the
company
manages the preparatory activities of
the exemplary documentation for the
initial accounting of the estimates
Armen Gasparyan
Form N 1
BALANCE SHEET
as at
31/03/12
code
Company name
"Artsakh HEK" OJSC
Type of actual activity
Production of electrical power
50046
90025315
Tax code
44313011407
State Registration Number
One thousand
Armenian Drams
Unit
Company address
10, Arakelyan str., Stepanakert, NKR
Phone
954235
Actual address
10, Arakelyan str., Stepanakert, NKR
Phone
954235
ASSETS
code
1
2
I. Non-current assets
Fixed assets
Incomplete non-current assets
Intangible assets
Investments accounted by share-participation
Other non-current financial assets
Deferred tax assets
Other non-current assets, including:
Total con-current assets
II. Current assets
Materials
Livestock
Fast depriciated items
Incomplete production
Products
Goods
Current advance payments
Accounts receivables on sales
Short-term budget receivables
Other receivables
Current financial investments
Cash and cash- equivalents
Other current assets, including:
Total current assets
BALANCE
General Director
Chief Accountant
010
020
030
040
050
060
070
071
072
073
074
080
090
100
110
120
130
140
150
160
170
180
190
200
210
211
212
213
220
230
As of the end of the
previous year
3
As of the end of the
fiscal year
4
8,512,645
5,661,873
200
8,474,684
5,800,593
125
20,273
20,273
9,800
9,800
14,194,991
14,285,202
29,515
44,971
2,702
2,810
14,001
483,543
628,881
319
50,000
40,682
589
14,457
192,343
610,224
1,926
589
1,127
1,250,232
15,445,223
915,186
15,200,388
Vahram Beglaryan
Arayik Davtyan
47,328
1,127
code As of the end of As of the end of the fiscal
the previous year year
2
3
4
LIABILITIES
1
III. Equity
Net amount of charter capital
Share capital
Difference after the revaluation and re-measurement
Profit accrued
Reserve fund
Other elements of equity, including:
Total equity
IV. Non- current liabilities
Long-term bank loans and borrowings
Delayed tax liabilities
Grants allocated towards assets
Non-current reserves
Other non-current liabilities, including:
Total non-current liabilities
V. Current liabilities
Short-term bank loans
Short-term borrowings
Account payables on purchases
Received current advance payments
Short-term budget payables
Short-term payables on social benefits
Payroll liabilities
Short-term payables to shareholders
Other payables
Grants allocated towards income
Current reserves
Other non-current liabilities, including:
Total current liabilities
BALANCE
General Director
Chief Accountant
240
250
260
270
280
290
291
292
293
300
310
320
330
340
350
351
352
353
360
370
380
390
400
410
420
430
440
450
460
470
480
481
482
483
490
500
10,650,000
478,443
10,650,000
478,443
560,800
106,292
0
592,951
106,292
0
11,795,535
11,827,686
3,041,238
2,715,259
0
0
3,041,238
2,715,259
250,751
316,331
3,635
232,756
320,325
11,116
58,080
1,443
2,797
17,501
2,238
187
3,035
5,890
2,309
299
26,200
15,200
11,000
11,000
608,450
15,445,223
657,443
15,200,388
Vahram Beglaryan
Arayik Davtyan
11,000
Form N 2
FINANCIAL RESULTS
STATEMENT
31/03/12
(fiscal year (period))
code
Company name
"Artsakh HEK" OJSC
Type of actual activity
Production of electrical power
50046
Tax code
90025315
State registration number
44313011407
Unit
One thousand
Armenian Drams
Address
10, Arakelyan str., Stepanakert, NKR
Actual address
10, Arakelyan str., Stepanakert, NKR
phone
phone
954235
954235
Indicators
1
Proceeds from production, goods, services sale
Cost of goods and services sold
Gross profit (Loss)
Sales expenses
Administrative expenses
Profit (Loss) from products, goods, labour,
services sales
Other operational incomes, including:
Other operating expenses, including:
Operating profit (loss)
Financial expenses
Profit (loss) accounted from share-participants
investment
Profit (loss) from assets sales and liabilities
payments related to the interrupted activity
Other non-operating profit (loss), including
Usual/ordinary activity profit (loss)
Unusual/infrequent activity profit (loss)
Net profit before income tax decrease
Income tax expenditures
Net profit (loss) after income tax decrease
General profit (loss) per share *
Net profit (loss) per share*
Previous year
(interim
Fiscal year
code
period
(interim period Previous year
cumulative)
cumulative)
interim period
2
3
4
5
Fiscal year
interim
period
6
010
261,756
228,136
261,756
228,136
020
-80,653
-108,736
-80,653
-108,736
030
040
050
181,103
-309
-40,327
119,400
-371
-44,527
181,103
-309
-40,327
119,400
-371
-44,527
060
140,467
74,502
140,467
74,502
070
071
072
073
080
081
082
083
090
100
411
411
612
612
411
411
612
612
-7,732
-7,732
-782
-782
-7,732
-7,732
-782
-782
133,146
74,332
133,146
74,332
-84,233
-84,233
-40,657
-40,657
-84,233
-84,233
-40,657
-40,657
48,913
-1,787
47,126
33,675
-1,524
32,151
48,913
-1,787
47,126
33,675
-1,524
32,151
47,126
6
32,151
3
47,126
6
32,151
3
110
120
130
131
132
133
140
150
160
170
180
190
200
* Filling of the items is obligatory by those stock companies, whose ordinary or potential shares are sold publicly, or those
which are in the process of issuing ordinary or potential shares on the open (regulated) market. The amount of these items is
displayed in drams (not in thousands drams).
General Director
Vahram Beglaryan
Chief AccountanAraik Davtyan
Form N 3
STATEMENT OF CHANGES IN EQUITY
31/03/12
(fiscal year (period))
code
Company name
"Artsakh HEK" OJSC
Type of actual activity
Production of electrical power
50046
Tax code
90025315
State Registration Number
44313011407
Unit
One thousand
Armenian Drams
Address
10, Arakelyan str., Stepanakert, NKR
Phone
954232
Actual address
10, Arakelyan str., Stepanakert, NKR
Phone
954232
Equity components
I. Previous year (period)
Charter (share ) capital
line
Items
1
2
Balance as at 31 December, 2009
General result from the changes in accounting policy
and correction of significant errors
010
Recalculated balance
030
040
Other comprehensive incomes and expenditures
Transactions with shareholders on share purchases,
including:
Net profit (loss) for the reporting (fiscal) year (period)
Dividends
Equity components increase (decrease) including:
Other changes, including:
Balance as at 31 March, 2012
Ordinary share
capital
Unpaid
share
capital
Retained
capital
3
4
5
7,362,074
Net amount
6
7
7,362,074
197,104
10
1,115,172
Other
units of
owned
capital
11
12
13
Total
14
43,645
8,717,995
0
7,362,074
0
0
7,362,074
197,104
0
0
1,115,172
43,645
0
0
8,717,995
0
0
051
052
060
0
0
0
0
070
080
081
090
091
100
2
Balance as at 31 December 2010
General result from the changes in accounting policy
and correction of significant errors
010
Recalculated balance
030
040
47,126
47,126
0
0
0
0
0
7,362,074
7,362,074
Charter (share ) capital
Ordinary share Unpaid
Retained
share
capital
capital
capital
3
4
5
10,650,000
Net amount
197,104
1,162,298
II. Previous year (period)
Differneces
Emission Differences
Profit (loss)
from reincome
from
accrued
measureme
(loss)
revaluation
nt
6
7
10,650,000
478,443
8
9
43,645
8,765,121
Reserve
Fund
Interim
divident
s
Other
units of
owned
capital
Total
10
11
12
13
14
560,800
106,292
11,795,535
020
0
10,650,000
0
0
10,650,000
478,443
0
0
560,800
106,292
0
0
11,795,535
0
050
0
0
051
052
0
0
0
0
Net profit (loss) for the reporting (fiscal) year (period)
060
Dividents
Equity components increase (decrease) including:
070
080
081
090
091
100
Balance as at 31 March, 2012
9
Interim
divident
s
0
line
Other changes, including:
8
Reserve
Fund
050
Items
Other comprehensive incomes and expenditures
Transactions with shareholders on share purchases,
including:
Differneces
Differences
from reProfit (loss)
from
measureme
accrued
revaluation
nt
020
Equity components
1
Emission
income
(loss)
32,151
32,151
0
0
0
0
0
10,650,000
General Director____________________ Vahram Beglaryan
Chief Accountant _______________________ Araik Davtyan
10,650,000
478,443
592,951
106,292
11,827,686
Form N 4
CASH FLOW
STATEMENT
31/03/12
(reporting year (period))
code
Company name
"Artsakh Hek" OJSC
Type of actual activity
Production of electrical power
50046
90025315
Tax code
44313011407
State Registration Number
One thousand
Armenian Drams
Unit
Company address
10, Arakelyan str., Stepanakert, NKR
Phone
954235
Actual address
10, Arakelyan str., Stepanakert, NKR
Phone
954235
Indicators
1
Cash at the beginning of the period
CASH FLOWS FROM OPERATING ACTIVITIES
Proceeds from sale of production, goods, works and services
Other operating activity, including:
code
2
010
Amount
3
548,467
020
030
031
032
033
040
311,111
285
285
0
0
311,396
050
060
070
080
090
100
101
102
103
110
120
5,758
37,197
27,249
28,696
9,485
1,878
1,878
0
0
110,263
201,133
130
140
150
160
161
162
163
170
33,681
0
598
0
0
0
0
34,279
180
190
200
201
202
203
210
220
741,831
0
0
0
0
0
741,831
-707,552
230
240
250
251
252
253
260
0
254,856
332,792
332,792
0
0
587,648
Total financing activities expenses
Net cash generated by financing activities
Total cash flows
Differences in the currency exchange rates **
Internal flows **
270
280
290
291
292
293
300
310
320
330
340
269,182
42
332,987
332,987
0
0
602,211
-14,563
-520,982
-708
Cash at the end of the reporting period
350
26,777
Net cash generated from operating activities
Operating expenses
Purchase of materials and goods
Purchase of works and services
Salaries
Budget contributions
Social security taxes
Other operating expenses, including:
Total operating expenses
Net cash flows from operating activities
CASH FLOWS FROM INVESTING ACTIVITES
Proceeds from non-current and intangible assets sales
Proceeds from financing assets operations
Proceeds from dividends and interests received
Other cash flows from investing activities, including:
Total investing activities cash
Investing activities expenses
Purchase of non-current and intangible assets
Acquired financial assets and loan provision
Other investing expenses, including:ª
Total investing activities expenses
Net cash used in the investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from equity (share) issue and resale
Proceeds from short and long- term loans and borrowings
Other cash flows from financing activities, including:
Net cash generated from financing activities
Expenses from financing activities
Repayment of loans received
Dividends and interests paid
Other financing activities expenses, including:
Previous period
Cash in hand
Bank accounts
Cash
flows
Dram
Currency
Dram
Currency
4
5
6
7
8
726
547,684
57
Amount
3
40,682
0
0
311,111
285
285
0
0
0
0
311,396
0
0
192
764
18,038
12
1,150
1,150
0
20,156
-20,156
0
0
5,566
31,743
9,211
28,684
9,485
728
728
85,417
225,979
4,690
0
0
4,690
-4,690
0
0
33,681
0
0
598
0
0
0
598
33,681
558,369
183,462
0
0
0
0
0
0
0
0
0
0
0
0
558,369
-557,771
183,462
-149,781
0
0
0
0
60,000
210,331
210,331
194,856
122,461
122,461
0
0
0
270,331
317,317
0
176,524
10
259,390
259,390
88,540
4,118
32
0
0
4,150
-4,150
-24,306
0
0
0
24,500
920
435,924
-165,593
-497,385
73,597
73,597
0
162,137
155,180
709
-708
0
0
0
58
0
564,962
6,100
6,100
0
0
571,062
7,706
37,137
37,036
24,024
12,747
11,920
11,920
0
0
130,570
440,492
0
51,250
51
0
0
0
0
51,301
54,705
0
36,756
36,756
0
0
91,461
-40,160
0
0
437,596
437,596
0
0
437,596
393,030
70
438,288
438,288
0
0
831,388
-393,792
6,540
106
-24,500
0
25,799
Reporting period
Cash in hand
Bank accounts
Dram
Currency
Dram
Currency
4
5
6
7
565
40,048
69
1,100
1,100
0
564,962
5,000
5,000
0
0
1,100
0
569,962
0
0
309
779
24,580
214
214
0
25,882
-24,782
0
0
0
0
7,397
28,125
12,456
24,024
12,747
11,706
11,706
8,233
0
0
96,455
473,507
8,233
-8,233
0
0
0
51,250
51
0
0
0
0
51,301
0
0
52,605
868
1,232
0
0
36,756
36,756
0
0
1,232
-1,232
0
0
89,361
-38,060
868
-868
0
0
0
0
245,305
245,305
192,291
192,291
0
0
0
245,305
192,291
0
231,577
161,453
70
0
0
438,288
438,288
0
0
70
-70
-26,084
0
0
0
669,865
-424,560
10,887
161,453
30,838
21,737
106
0
0
0
21,912
0
26,000
47,328
Cash
flows
8
481
-26,000
0
24,935
Form ヽ 5
NOTES TO
FINANCIAL
31/03/12
(reporting year (period)¤
code
Company name
"Artsakh HEK" OJSC
Type of actual activity
Production of electrical power
50046
90025315
Tax code
44313011407
State Registration Number
Unit
One thousand Armenian
Drams
Company address
10, Arakelyan Str., Stepanakert, NKR
phone
954235
Actual address
10, Arakelyan Str., Stepanakert, NKR
phone
954235
5.3.5. Other disclosures
Here, additional blanks should be added while completing the necessary disclosures, with
5.1. The statement on compliance to the accounting standards of the Republic of Armenia
consolidated accounting statements are made up in compliance with the RA accounting standards
5.2. Accounting policy
5.2.1. Accounting policy approaches
Here, additional blanks should be added while completing the necessary disclosures, with corresponding paging.
Accounting policy approaches
Table 1
Articles
1. The formula of recourses cost determination
The recourses cost is determined by the following formula: (First
income first expenditure (FIFE) last income first expenditure (LIFE)
The selected accounting policy
First income first expenditure
2. The approach of subsequent evaluation of fixed assets
The fixed asset unit after its initial recognition as an asset must be
registered in its initial cost minus accumulated depreciation and
Different approaches are applied for different classes.
The subsequent evaluation will be initial cost minus
accumulated depreciation
3. The approach of subsequent evaluation of intangible assets
Initial cost minus accumulated depreciation
4. Investment property subsequent evaluation approach
Real cost minus accumulated depreciation
5. The approach of profits (losses) recognition from the revaluation
of real value of the assts availabale for sale
As income or expense
6. The approach of accounting of investments in affiliated
companies, associations, jointly controlled entities
Method of share-participation
7. The approach of displaying the influence of significant errors
correction and changes in the accounting policy
Balance adjustments to the profits retained
8. The approach of determination of the degree of transaction finality
of the construction and service contracts for profits recognition
Different approaches for any group
9. The approach of currency differences recognition
To recognize as income or expense at the period of
occurence
10. The approach of loan spending accounting
In assets purchasing s an asset in the book value,
other expenditures as expenses
11.
5.2.2.Evaluation bases applied for consolidated financial statements
Assets and liabilities are evaluated by their initial cost. Currency
articles are computed as of balance sheet date, applying the closing
5.3. Other disclosures
5.3.1. General disclosures
Here, additional blanks should be added while completing the necessary disclosures, with corresponding paging.
The company was established in 2007. The basic type of activity of the company is the electrical power production. The
average number of employees - 80. The company address is 10, Arakelyan Str., Stepanakert, NKR
5.3.2. Notes to consolidated financial statement
Fixed assets
Table 2
Classes
1
Depreciated operating fixed asstes
Addition
Disposal
code
Depreciation
rate
Opening balance
of the previous
year
total
revaluation
total
2
3
4
5
6
7
Reporting year
(period) closing
balance
including
revaluation
8
9
Buildings
book value
010
3,160,730
value
011
4,316,613
16,277
accumulated depreciation
012
1,155,883
16,277
accumulated impairment
013
3144453
4316613
1172160
Constructions
book value
020
563,396
2,521
value
021
570,647
2,521
2,891
563,026
573168
accumulated depreciation
022
7,251
2,891
10142
accumulated impairment
023
Transfer facilities
book value
030
56,166
value
031
58,935
306
accumulated depreciation
032
2,769
306
accumulated impairment
033
55860
58935
3075
Plant and equipments
book value
040
4,614,826
6,928
value
041
6,029,949
6,928
25,031
4596723
6036877
accumulated depreciation
042
1,415,123
25,031
1440154
accumulated impairment
043
Vehicles
book value
050
39,835
value
051
64,682
3,006
36829
accumulated depreciation
052
24,847
3,006
accumulated impairment
Production equipments, office equipment,
tools
book value
053
060
16,290
1,631
value
061
26,602
1,631
28233
accumulated depreciation
062
10,312
980
11292
accumulated impairment
063
64682
27853
980
16941
Perennial plants
book value
070
388
value
071
1,488
73
accumulated depreciation
072
1,100
73
accumulated impairment
073
315
1488
1173
Livestock
book value
080
value
081
accumulated depreciation
082
accumulated impairment
083
Other fixed assets
book value
090
1,850
46
value
091
4,622
46
523
1373
4668
accumulated depreciation
092
2,772
523
3295
accumulated impairment
093
Total depreciated fixed asstes
book value
100
8,453,481
11,126
0
49,087
0
8,415,520
value
101
11,073,538
11,126
0
0
0
11,084,664
accumulated depreciation
102
2,620,057
49,087
0
0
0
2,669,144
accumulated impairment
103
0
0
0
0
0
0
Non-operating fixed asstes
Fixed assets not put into operation
book value
110
48,500
48500
value
111
48,500
48500
accumulated impairment
Fixed assets temporarily removed from
oper tion
book value
113
value
121
accumulated depreciation
122
accumulated impairment
123
120
Fixed assets taken out from the operation
and held for the write -off
book value
130
value
131
accumulated impairment
133
Total non-operating fixed assets
book value
140
48,500
0
0
0
0
48,500
value
141
48,500
0
0
0
0
48,500
accumulated depreciation
142
0
0
0
0
0
0
accumulated impairment
143
0
0
0
0
0
0
Land
book value
150
10,664
10,664
value
151
10,664
10,664
accumulated impairment
153
Total fixed assets
book value
160
8,512,645
11,126
0
49,087
0
8,474,684
value
161
11,132,702
11,126
0
0
0
11,143,828
accumulated depreciation
162
2,620,057
49,087
0
0
0
2,669,144
accumulated impairment
163
0
0
0
0
0
0
Investment property (initial value model)
Classes
1
code
Table 3
Depreciation
rate
Opening
balance of the
previous year
3
4
2
total
5
Addition
including:
Disposal
purchases
the future costs
capitalization
total
including
write -off
6
7
8
9
Reporting year
(period) closing
balance
10
Land
book value
010
0
0
value
011
0
accumulated impairment
012
0
book value
020
0
0
value
021
0
accumulated depreciation
022
023
0
Constructions
accumulated impairment
0
Investment property (real value model)
Classes
1
code
2
Land
Table 4
Opening
balance of the
previous year
3
Addition
including:
total
4
Disposal
including:
purchases
future costs
capitalization
real value
revaluation
total
5
6
7
8
write-off
real value
revaluation
9
10
Reporting year
(period) closing
balance
11
book value
value
010
011
0
0
0
accumulated impairment
012
0
book value
020
0
0
value
021
022
Constructions
accumulated impairment
0
0
Finance lease assets
Table 5
Classes
code
Opening
balance of the
previous year
Reporting year
(period) closing
balance
1
2
3
4
Buildings
010
011
012
013
book value
value
accumulated depreciation
accumulated impairment
Plant and equipments
020
021
022
023
book value
value
accumulated depreciation
accumulated impairment
Vehicles
030
031
032
033
book value
value
accumulated depreciation
accumulated impairment
Other fixed assets
book value
value
accumulated depreciation
accumulated impairment
Total finance lease assets
040
041
042
043
book value
value
accumulated depreciation
accumulated impairment
050
051
052
053
0
0
0
0
0
0
0
0
Incomplete non -current material assets
Classes
1
Fixed assets under construction
Equipments to be installed
Future capitalised costs on fixed assets
Fixed assets constructed by contractor
Total incomplete non -current material assets
Table 6
code
2
010
020
030
040
050
Opening
balance of the
previous year
3
4,428,575
1,233,298
5,661,873
Addition
Disposal
4
5
Reporting year
(period) closing
balance
6
4,536,315
1,264,278
107,740
30,980
138,720
0
5,800,593
Intangible assets
Table 7
Classes
code
1
2
Brand name
book value
value
accumulated depreciation
accumulated impairment
Publication names
book value
value
accumulated depreciation
accumulated impairment
Software
book value
value
accumulated depreciation
accumulated impairment
Licenses and letters of attorney
book value
value
accumulated depreciation
accumulated impairment
Copyrights
book value
value
accumulated depreciation
accumulated impairment
Patents
book value
value
accumulated depreciation
accumulated impairment
Depreciation
Opening
rate
balance of the
previous year
3
4
Addition
including
elaboration by revaluation
own forces
total
5
6
Disposal
Reporting year
(period) closing
including:
balance
write-off
revaluation
total
7
8
9
10
11
010
011
012
013
020
021
022
023
030
031
032
033
200
555
355
75
75
200
555
355
0
0
0
75
0
125
555
430
040
041
042
043
050
051
052
053 1
060
061
062
063
Rights for service provision and exploitation
book value
value
accumulated depreciation
accumulated impairment
070
071
072
073
Formula, models, projects, recipes, tests
book value
value
accumulated depreciation
accumulated impairment
Other intangible assets
book value
value
accumulated depreciation
accumulated impairment
Total
book value
value
accumulated depreciation
accumulated impairment
080
081
082
083
090
091
092
093
100
101
102
103
0
0
0
0
0
75
0
0
0
0
0
0
0
0
0
0
125
555
430
0
Goodwill
Addition
Indicator
code
Depreciation
rate
1
2
3
book value
010
value
011
accumulated depreciation
012
accumulated impairment
013
Disposal
including:
Opening
balance of the
previous year
total
4
5
0
recognized
additional
goodwill
assets and liabilites
value adjustment
increase
total
7
8
6
0
including:
0
0
Reporting year
(period) closing
derecognized
balance
assets and liabilites value
negative
adjustment decrease
goodwill
9
0
10
0
11
0
0
Negative goodwill
Addition
including:
Indicators
code
Period of
depreciation
Opening
balance of the
previous year
total
1
2
3
4
5
book value
010
value
accumulated depreciation
011
012
0
Disposal
recognized
additional
negative
goodwill
6
0
0
including:
assets and liabilites
value adjustment
increase
total
7
8
0
Reporting year
(period) closing
derecognized
balance
assets and liabilites value
negative
adjustment decrease
goodwill
9
0
10
0
11
0
0
Incomplete intangible assets
Table 10
Indicator
code
Opening balance of
the previous year
Addition
Disposal
Reporting year
(period) closing
balance
1
2
3
4
5
6
Intangible assets in the course of development
010
0
Future capitalized costs on intangible assets
Total
020
030
0
0
´³ÅݻٳëݳÏóáõÃÛ³Ý Ù»Ãá¹áí ѳßí³éíáÕ Ý»ñ¹ñáõÙÝ»ñ
Investments by share-participation
Table 11
Investments
code
1
Subsidiaries
Associates
Jointly controlled entities
Total
2
010
020
030
040
Opening balance of
the previous year
3
0
Reporting year
(period) closing
balance
4
0
1
Long-term bank loans and borrowings
Table 12
Indicators
1
Long-term bank loans
Net amount
Gross amount
Retained interest expenses
Long-term bank borrowings
Net amount
Gross amount
Retained interest expenses
Long -term fianance lease liabilities
Net amount
Gross amount
Retained interest expenses
Total
book value
Gross amount
Retained interest expenses
code
Opening balance of
the previous year
Reporting year (period)
closing balance
2
3
4
010
011
012
2,616,985
3,517,755
900,770
2,480,971
3,294,307
813,336
020
021
022
424,253
485,758
61,505
234,288
292,750
58,462
3,041,238
4,003,513
962,275
2,715,259
3,587,057
871,798
030
031
032
040
041
042
Short -term bank loans and borrowings
Table 13
Indicator
1
Short-term bank loans
Net amount
Gross amount
Retained interest expenses
Short-term borrowings
Net amount
Gross amount
Retained interest expenses
Short-term part of the long-term loans
Net amount
Gross amount
Retained interest expenses
Short-term part of the long-term borrowings
Net amount
Gross amount
Retained interest expenses
Total
Net amount
Gross amount
Retained interest expenses
code
Opening balance of
the previous year
Reporting year (period)
closing balance
2
3
4
010
011
012
250,751
274,922
24,171
232,756
249,087
16,331
020
021
022
316,331
324,528
8,197
320,325
329,102
8,777
567,082
599,450
32,368
553,081
578,189
25,108
030
031
032
040
041
042
050
051
052
Short-term taxes payable
Table 14
Taxes
code
Opening balance of
the previous year
Reporting year (period)
closing balance
1
2
3
4
Profit tax
010
185
Income tax
020
2,419
1,069
VAT
030
Excise tax
040
Property tax
050
58
46
Land tax
060
Purchase tax
070
Fixed payments
080
Fines
090
36
3
Penalties
100
Ecological tax
110
Natural resourses use tax
120
Other mandatory payments
130
337
325
Total
140
3,035
1,443
Provisions
Table 15
Class
code
1
2
010
020
030
040
041
042
050
Guaranteed sales provisions
Onerous contracts
provisions on provided guarantees
Other provisions, including
Total provisions
Addition
Opening balance of
the previous year Provisions
Disposal
6
provisions
recurrency
7
Reporting year
(period) closing
balance
8
3
4
Discount effect
adjustment
5
0
0
0
0
0
0
0
0
0
0
0
0
Use of provisions
Ordering maturity balance
code
Table 16
Long-term amounts
Short-term amounts
ASSETS
1
2
I. Non-current assets
Fixed assets
Intangible assets
Deferred tax assets
Other non-current assets, including:
Total non-current assets
II. Current assets
Materials
Livestock
Fast depriciated items
Incomplete production
Total current assets
Total assets
4
010
020
030
040
041
042
050
2,669,144
430
5,805,540
-305
0
5,810,393
5,810,393
2,669,574
11,615,628
060
070
080
44,971
090
100
110
Production
Other current assets, including:
3
2,810
867,405
0
111
112
867,405
0
120
130
915,186
3,584,760
0
11,615,628
LIABILITIES
III. Equity
Net amount of charter (share) capital
Other elements of equity, including:
Total equity
IV. Non-current liabilities
Grants allocated towards assets
Other non-current liabilities, including:
Total non-current liabilities
V. Current liabilities
Current liabilities, including:
Total current liabilities
Total liabilities
140
150
151
160
170
180
181
190
200
201
202
210
220
0
10,650,000
1,177,686
1,177,686
11,827,686
0
2,715,259
0
2,715,259
657,443
0
0
2,715,259
657,443
657,443
657,443
0
14,542,945
Off-balance accounts
Indicators
1
Capital lease
Inventories taken for safe storage
Recycled materials
Installed equipment
Goods obtained by commission-consignment contract
Assets stored as collateral
Trust management contract managed assets
Assets received by commission-consignment contract
Trust management and
brokerage activities generated receivables and loans granted
Liabilities on assets from trust management and commission-consignment
contracts
Founder (customer) financial results
Accounts payable and loans recieved from trust management and brokerage
activities
Conditioned liabilities
Conditioned assets
Receivables written-off for tax accounting purposes
Payables written-off for tax accounting purposes
Outstanding taxes loss
Pledged assets
ccountable / registered forms
Periodicals and professional literature
Operating assets of little value (fast-depreciated assets)
Table 17
Reporting year
cod Opening balance of
(period)
closing
e
the previous year
balance
2
3
4
010
020
030
040
050
060
070
080
090
100
110
120
130
140
150
160
170
180
190
200
210
12,347
14,280
Ordering of finance results statement expenses
Table 18
Indicator
1
Proceeds from production, goods, services sale
Other operating incomes
Changes in complete and incomplete production balance
Other capitalized expenditures
Raw materials and supplies
Staff expenditures
Depreciation and amortization expenditures
Other operating expenses and expenditures
Operating profit (loss)
Non- operating activity profit (loss)
Usual/ordinary activity profit (loss)
Unusual/infrequent activity profit (loss)
Net profit before income tax decrease
Income tax expenditures
Net profit (loss) after income tax decrease
cod
e
2
010
020
030
040
050
060
070
080
090
100
110
120
130
140
150
Previous year
(interim period
cumulative )
3
261,756
411
Reporting year
(interim period
cumulative)
4
228,136
612
-8,571
-50,430
-34,724
-35,296
133,146
-84,233
48,913
-1,787
47,126
-8,942
-65,355
-49,162
-30,957
74,332
-40,657
33,675
-1,524
47,126
32,151
32,151
Previous year
(interim period )
Reporting year
(interim period)
5
261,756
411
6
228,136
612
-8,571
-50,430
-34,724
-35,296
133,146
-84,233
48,913
-1,787
47,126
-8,942
-65,355
-49,162
-30,957
74,332
-40,657
33,675
-1,524
47,126
32,151
32,151
Other operating activity incomes and expenses
Table 19
Indicator
code
1
2
010
020
030
040
050
060
070
080
090
100
110
120
130
140
Inventories sales (write-off)
Changes in inventory values
Bad debts
Warranty service and repair
Rent and lease payments
Fines and penalties
Goods shortages and spoiling and their compensation
Production expenditures from the usual rate exceeds
Defective products
Storage of decomissioned fixed assets
Liquidation of fixed assets
Research and development
Other operating activity
Total
income
3
Previous year
expense
4
6,171
43
368
411
1
1,364
196
7,732
result
5
income
6
-6,171
43
64
-1
-1,364
172
-7,321
548
612
Reporting year (period)
expense
7
result
8
67
-67
64
715
782
-167
-170
Income and expenses from other non -operating activity
Indicator
code
1
Non-current assets sales (write -off)
Current financing assets sales (writes -off)
Sales (write-off) of interrupted activity assets and liability
payments
Revaluation of non-current material assets and nonmaterial assets
Difference of currency rates
2
010
020
030
Revaluation of non-operating finacial tools and impairment
060
Financing investments
Loans and borrowings
Grants allocated towards assets
Donated assets
Other non-operating activity
Total
070
080
090
100
110
120
income
3
Previous year
expense
4
5,181
result
5
-5,181
Table 20
Reporting year (period)
income
expense
result
6
7
8
040
050
20,992
81,240
-60,248
5,881
598
19,402
-18,804
2,264
21,590
105,823
-84,233
8,145
37,959
-32,078
2,264
10,843
-10,843
48,802
-40,657
Unusual/infrequent activity profit (loss)
Total
Indicator
code
1
2
010
020
030
040
income
3
0
Previous year
expense
4
1,787
1,787
result
5
-1,787
-1,787
Table 21
Reporting year (period)
income
expense
result
6
7
8
1,524
-1,524
0
1,524
-1,524
The result from significant errors
Indicator
1
Total
the code number
code
in the Form N2
2
3
010
020
030
040
050
0
income
4
Previous year
expense
5
result
6
0
0
0
Table 22
Reporting year (period)
income
expense
result
7
8
9
0
0
0
The result from the accounting policy change
Total
Indicator
code
1
2
010
020
030
040
050
the code number
in the Form N2
3
income
4
Previous year
expense
5
result
6
0
0
0
0
Table 23
Reporting year (period)
income
expense
result
7
8
9
0
0
0