Liquidity of the Issuer, Capital and Current Asset Adequacy

Changes in indicators describing the issuer’s liquidity calculated on the basis of its accounting (financial) statements
Standard (rules) applicable to the accounting (financial) statements used for calculating such indicators: Russian Accounting Standards
Unit of measurement for calculations of net working capital: rubles in thousands
Indicator Description
|
2014
|
2015
|
Net working capital
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17,101,802
|
20,507,437
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Current ratio
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22.53
|
18.52
|
Quick ratio
|
22.49
|
18.5
|
Liquid ratio
|
20.36
|
15.65
|
Indicator Description
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3 months of 2015
|
3 months of 2016
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Net working capital
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17,176,431
|
20,426,165
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Current ratio
|
20.34
|
10.67
|
Quick ratio
|
20.31
|
10.66
|
Liquid ratio
|
17.66
|
9.25
|
At the issuer’s sole discretion, additional information concerning changes in indicators describing the issuer’s liquidity and calculated on the basis of its consolidated accounting (financial) statements included in the quarterly report: No
To describe the issuer’s liquidity in a better way, the liquid ratio is shown; the liquid ratio is calculated as the ratio of cash, cash equivalents, and deposits due after 3 months to short-term liabilities.
All indicators are calculated in accordance with recommended calculation methods: No
Economic analysis of the issuer’s liquidity and solvency and the adequacy of the issuer’s equity for settling short-term liabilities and covering current operating expenses based on the economic analysis of changes in the above-mentioned indicators, describing the factors that are believed by the issuer’s management bodies to have had the greatest effect on the issuer’s liquidity and solvency:
The Company’s net working capital was equal to 20,507,437 thousand rubles in 2015 and 20,426,165 in the 1st quarter of 2016. The positive value of this indicator means that the Company’s current assets are considerably in excess of short-term liabilities.
As of December 31, 2015, the current ratio was 18.52, and the quick ratio was 18.50; this means that the value of the Company’s most liquid current assets was over 18 times the size of short-term liabilities.
The liquid ratio as of March 31, 2016, was 9.25; therefore, the value of the Company’s cash, cash equivalents, and short-term deposits was over 9 times the size of current liabilities.
The issuer’s management bodies have different opinions about reasons or the degree of their influence on the issuer’s financial and economic performance: No
A member of the issuer’s Board of Directors (Supervisory Board) or a member of the issuer’s collegial executive body has a dissenting opinion about the above-mentioned reasons and/or the degree of their influence on the issuer’s financial and economic performance, which opinion is contained in the minutes of a meeting of the issuer’s Board of Directors (Supervisory Board) or the issuer’s collegial executive body that dealt with the relevant issues, and insists that this opinion be included in the quarterly report: No
4.3. Financial Investments of the Issuer
As of December 31, 2015
List of financial investments of the issuer accounting for 5 percent or more of its total financial investments as of the last date of the reporting period
Investments in issue-grade securities
Type of securities: shares
Full corporate name of the issuer: Federal Grid Company of Unified Energy System, Public Joint-Stock Company
Short corporate name of the issuer: FGC UES, PJSC
Location of the issuer: Russia, 117630, Moscow, ul. Akademika Chelomeya, 5A
INN (Taxpayer Identification Number): 4716016979
OGRN (Principal State Registration Number): 1024701893336
State Registration Date of the Issue(s)
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Registration Number
|
Registration Agency
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September 10, 2002
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1-01-65018-D
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Federal Commission for the Securities Market of the Russian Federation
|
Number of securities owned by the issuer: 1,021,359,045,392
Total par value of securities owned by the issuer: 510,679,522.696 rubles x 1,000
Total book value of securities owned by the issuer: 59,984,417
Unit of measurement: rubles in thousands
The issuer of securities is a subsidiary and/or dependent company of the issuer that prepared this quarterly report.
The Annual General Meeting of Shareholders of JSC FGC UES (Minutes No. 16 of June 30, 2015) decided to pay dividends based on performance results in the financial year 2014 in the amount of 0.0006647883 ruble per ordinary share in JSC FGC UES in cash. The date for determining the persons entitled to dividends based on performance results in the financial year 2014 is July 16, 2015.
Amount of fixed interest or any other income related to bonds and other issue-grade debt securities or the procedure for determining such amount, dates of payment;
amount of dividends on preference shares or the procedure for determining such amount if specified in the articles of association of the issuing joint-stock company, dates of payment;
amount of declared dividends on ordinary shares (if no information is available about the amount of declared dividends on ordinary shares in the current year, specify the amount of dividends declared in the previous year), dates of payment
Type of securities: shares
Full corporate name of the issuer: Public Joint-Stock Company Moscow United Electric Grid Company
Short corporate name of the issuer: PJSC MOESK
Location of the issuer: Moscow, Russia
INN (Taxpayer Identification Number): 5036065113
OGRN (Principal State Registration Number): 1057746555811
State Registration Date of the Issue(s)
|
Registration Number
|
Registration Agency
|
May 31, 2005
|
1-01-65116-D
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Federal Financial Markets Service of the Russian Federation
|
Number of securities owned by the issuer: 24,794,187,558
Total par value of securities owned by the issuer: 12,397,093.779 rubles x 1,000
Total book value of securities owned by the issuer: 18,620,435
Unit of measurement: rubles in thousands
The issuer of securities is a subsidiary and/or dependent company of the issuer that prepared this quarterly report.
The Annual General Meeting of Shareholders of JSC MOESK (Minutes No. 17 of June 29, 2015) decided to pay dividends on ordinary shares in JSC MOESK based on performance results in 2014 in the amount of 0. 0422 ruble per ordinary share in the company in cash. The dividend payment period is at most 10 business days for a nominee holder and an asset manager that is a professional securities market participant and 25 business days for other shareholders registered on the register after the date of the list of the persons entitled to dividends. The date of the list of the persons entitled to dividends is July 6, 2015.
Amount of fixed interest or any other income related to bonds and other issue-grade debt securities or the procedure for determining such amount, dates of payment;
amount of dividends on preference shares or the procedure for determining such amount if specified in the articles of association of the issuing joint-stock company, dates of payment;
amount of declared dividends on ordinary shares (if no information is available about the amount of declared dividends on ordinary shares in the current year, specify the amount of dividends declared in the previous year), dates of payment
Type of securities: shares
Full corporate name of the issuer: Kuban Power and Electrification Public Joint Stock Company
Short corporate name of the issuer: Kubanenergo
Location of the issuer: Krasnodar, Russia
INN (Taxpayer Identification Number): 2309001660
OGRN (Principal State Registration Number): 1022301427268
State Registration Date of the Issue(s)
|
Registration Number
|
Registration Agency
|
July 8, 2003
|
1-02-000636-А
|
Federal Commission for the Securities Market of the Russian Federation
|
Number of securities owned by the issuer: 260,921,912
Total par value of securities owned by the issuer: 26,092,191.200 rubles x 1,000
Total book value of securities owned by the issuer: 15,890,144
Unit of measurement: rubles in thousands
The issuer of securities is a subsidiary and/or dependent company of the issuer that prepared this quarterly report.
The Annual General Meeting of Shareholders of Kubanenergo (Minutes No. 36 of June 11, 2015) decided to pay no dividends on ordinary shares in the company based on performance results in 2014.
Amount of fixed interest or any other income related to bonds and other issue-grade debt securities or the procedure for determining such amount, dates of payment;
amount of dividends on preference shares or the procedure for determining such amount if specified in the articles of association of the issuing joint-stock company, dates of payment;
amount of declared dividends on ordinary shares (if no information is available about the amount of declared dividends on ordinary shares in the current year, specify the amount of dividends declared in the previous year), dates of payment
Type of securities: shares
Full corporate name of the issuer: PUBLIC JOINT-STOCK COMPANY LENENERGO
Short corporate name of the issuer: PJSC LENENERGO
Location of the issuer: Saint Petersburg, Russia
INN (Taxpayer Identification Number): 7803002209
OGRN (Principal State Registration Number): 1027809170300
State Registration Date of the Issue(s)
|
Registration Number
|
Registration Agency
|
June 27, 2003
|
1-01-00073-А
|
Federal Commission for the Securities Market of the Russian Federation
|
December 3, 2015
|
1-01-00073-A-004D
|
Bank of Russia
|
Number of securities owned by the issuer: 5,790,957,808
Total par value of securities owned by the issuer: 5,790,957.808 rubles x 1,000
Total book value of securities owned by the issuer: 13,116,519
Unit of measurement: rubles in thousands
The issuer of securities is a subsidiary and/or dependent company of the issuer that prepared this quarterly report.
The General Meeting of Shareholders decided to pay no dividends on ordinary and preference shares in the company based on performance results in 2014.
Amount of fixed interest or any other income related to bonds and other issue-grade debt securities or the procedure for determining such amount, dates of payment;
amount of dividends on preference shares or the procedure for determining such amount if specified in the articles of association of the issuing joint-stock company, dates of payment;
amount of declared dividends on ordinary shares (if no information is available about the amount of declared dividends on ordinary shares in the current year, specify the amount of dividends declared in the previous year), dates of payment
Additional information:
The information specified includes the actually placed shares of the additional issue of PJSC LENENERGO.
Type of securities: bonds
Full corporate name of the issuer: Interregional Distribution Grid Company of Centre, Public Joint-Stock Company
Short corporate name of the issuer: IDGC of Centre, PJSC
Location of the issuer: Moscow, Russia
INN (Taxpayer Identification Number): 6901067107
OGRN (Principal State Registration Number): 1046900099498
State Registration Date of the Issue(s)
|
Registration Number
|
Registration Agency
|
June 25, 2013
|
4B02-02-10214-A
|
MICEX Stock Exchange
|
June 25, 2013
|
4B02-04-10214-A
|
MICEX Stock Exchange
|
Number of securities owned by the issuer: 10,000,000
Total par value of securities owned by the issuer: 10,000,000 rubles x 1,000
Maturity: on the 3,640th day after the placement start date
Total book value of securities owned by the issuer: 10,000,000
Unit of measurement: rubles in thousands
The issuer of securities is a subsidiary and/or dependent company of the issuer that prepared this quarterly report.
The bond interest rate of the 4B02-02-10214-A issue is 12.42% per annum; the date when the issuer purchases the offered bonds is June 5, 2018; the bond redemption date is May 23, 2025. The bond interest rate of the 4B02-04-10214-A issue is 11.58% per annum; the date when the issuer purchases the offered bonds is November 19, 2019, and November 17, 2022; the bond redemption date is November 11, 2025.
Amount of fixed interest or any other income related to bonds and other issue-grade debt securities or the procedure for determining such amount, dates of payment;
amount of dividends on preference shares or the procedure for determining such amount if specified in the articles of association of the issuing joint-stock company, dates of payment;
amount of declared dividends on ordinary shares (if no information is available about the amount of declared dividends on ordinary shares in the current year, specify the amount of dividends declared in the previous year), dates of payment
Investments in non-issue-grade securities
Investments in non-issue-grade securities accounting for 5 percent or more of total financial investments: none
The issuer established a reserve for impairment of financial investments in securities.
Value of the reserve for impairment of financial investments in securities as of the beginning and end of the most recently closed fiscal year prior to the last date of the most recent reporting quarter:
Reserves for impairment of financial investments in shares were as follows:
3,456,377 thousand rubles as of December 31, 2014;
3,454,519 thousand rubles as of December 31, 2015.
Other financial investments
Other financial investments accounting for 5 percent or more of total financial investments: none
Information concerning the value of potential losses associated with the bankruptcy of entities (enterprises) in which investments were made by type of the above-mentioned investment:
None
Information about losses is provided according to the issuer’s estimate of the financial investments recorded in the issuer’s accounting statements for the period from the beginning of the reporting year to the last date of the most recent reporting quarter.
Accounting standards (rules) in accordance with which the issuer made calculations recognized in this paragraph of the quarterly report:
Accounting records of financial investments are kept in accordance with Regulations for Accounting 19/02 “Financial Investment Accounting” approved by Order of the Ministry of Finance of the Russian Federation No. 126n of December 10, 2002 (as amended and supplemented).
As of March 31, 2015
List of financial investments of the issuer accounting for 5 percent or more of its total financial investments as of the last date of the reporting period
Investments in issue-grade securities
Type of securities: shares
Full corporate name of the issuer: Federal Grid Company of Unified Energy System, Public Joint-Stock Company
Short corporate name of the issuer: FGC UES, PJSC
Location of the issuer: Russia, 117630, Moscow, ul. Akademika Chelomeya, 5A
INN (Taxpayer Identification Number): 4716016979
OGRN (Principal State Registration Number): 1024701893336
State Registration Date of the Issue(s)
|
Registration Number
|
Registration Agency
|
September 10, 2002
|
1-01-65018-D
|
Federal Commission for the Securities Market of the Russian Federation
|
Number of securities owned by the issuer: 1,021,359,045,392
Total par value of securities owned by the issuer: 510,679,522.696 rubles x 1,000
Total book value of securities owned by the issuer: 84,885,150
Unit of measurement: rubles in thousands
The issuer of securities is a subsidiary and/or dependent company of the issuer that prepared this quarterly report.
The Annual General Meeting of Shareholders of JSC FGC UES (Minutes No. 16 of June 30, 2015) decided to pay dividends based on performance results in the financial year 2014 in the amount of 0.0006647883 ruble per ordinary share in JSC FGC UES in cash. The date for determining the persons entitled to dividends based on performance results in the financial year 2014 is July 16, 2015.
Amount of fixed interest or any other income related to bonds and other issue-grade debt securities or the procedure for determining such amount, dates of payment;
amount of dividends on preference shares or the procedure for determining such amount if specified in the articles of association of the issuing joint-stock company, dates of payment;
amount of declared dividends on ordinary shares (if no information is available about the amount of declared dividends on ordinary shares in the current year, specify the amount of dividends declared in the previous year), dates of payment
Type of securities: shares
Full corporate name of the issuer: Public Joint-Stock Company Moscow United Electric Grid Company
Short corporate name of the issuer: PJSC MOESK
Location of the issuer: Moscow, Russia
INN (Taxpayer Identification Number): 5036065113
OGRN (Principal State Registration Number): 1057746555811
State Registration Date of the Issue(s)
|
Registration Number
|
Registration Agency
|
May 31, 2005
|
1-01-65116-D
|
Federal Financial Markets Service of the Russian Federation
|
Number of securities owned by the issuer: 24,794,187,558
Total par value of securities owned by the issuer: 12,397,093.779 rubles x 1,000
Total book value of securities owned by the issuer: 19,884,938
Unit of measurement: rubles in thousands
The issuer of securities is a subsidiary and/or dependent company of the issuer that prepared this quarterly report.
The Annual General Meeting of Shareholders of JSC MOESK (Minutes No. 17 of June 29, 2015) decided to pay dividends on ordinary shares in JSC MOESK based on performance results in 2014 in the amount of 0. 0422 ruble per ordinary share in the company in cash. The dividend payment period is at most 10 business days for a nominee holder and an asset manager that is a professional securities market participant and 25 business days for other shareholders registered on the register after the date of the list of the persons entitled to dividends. The date of the list of the persons entitled to dividends is July 6, 2015.
Amount of fixed interest or any other income related to bonds and other issue-grade debt securities or the procedure for determining such amount, dates of payment;
amount of dividends on preference shares or the procedure for determining such amount if specified in the articles of association of the issuing joint-stock company, dates of payment;
amount of declared dividends on ordinary shares (if no information is available about the amount of declared dividends on ordinary shares in the current year, specify the amount of dividends declared in the previous year), dates of payment
Type of securities: shares
Full corporate name of the issuer: Kuban Power and Electrification Public Joint Stock Company
Short corporate name of the issuer: Kubanenergo
Location of the issuer: Krasnodar, Russia
INN (Taxpayer Identification Number): 2309001660
OGRN (Principal State Registration Number): 1022301427268
State Registration Date of the Issue(s)
|
Registration Number
|
Registration Agency
|
July 8, 2003
|
1-02-000636-А
|
Federal Commission for the Securities Market of the Russian Federation
|
Number of securities owned by the issuer: 260,921,912
Total par value of securities owned by the issuer: 26,092,191.200 rubles x 1,000
Total book value of securities owned by the issuer: 17,012,109
Unit of measurement: rubles in thousands
The issuer of securities is a subsidiary and/or dependent company of the issuer that prepared this quarterly report.
The Annual General Meeting of Shareholders of Kubanenergo (Minutes No. 36 of June 11, 2015) decided to pay no dividends on ordinary shares in the company based on performance results in 2014.
Amount of fixed interest or any other income related to bonds and other issue-grade debt securities or the procedure for determining such amount, dates of payment;
amount of dividends on preference shares or the procedure for determining such amount if specified in the articles of association of the issuing joint-stock company, dates of payment;
amount of declared dividends on ordinary shares (if no information is available about the amount of declared dividends on ordinary shares in the current year, specify the amount of dividends declared in the previous year), dates of payment
Type of securities: shares
Full corporate name of the issuer: PUBLIC JOINT-STOCK COMPANY LENENERGO
Short corporate name of the issuer: PJSC LENENERGO
Location of the issuer: Saint Petersburg, Russia
INN (Taxpayer Identification Number): 7803002209
OGRN (Principal State Registration Number): 1027809170300
State Registration Date of the Issue(s)
|
Registration Number
|
Registration Agency
|
June 27, 2003
|
1-01-00073-А
|
Federal Commission for the Securities Market of the Russian Federation
|
December 3, 2015
|
1-01-00073-A-004D
|
Bank of Russia
|
Number of securities owned by the issuer: 5,790,957,808
Total par value of securities owned by the issuer: 5,790,957.808 rubles x 1,000
Total book value of securities owned by the issuer: 17,980,924
Unit of measurement: rubles in thousands
The issuer of securities is a subsidiary and/or dependent company of the issuer that prepared this quarterly report.
The General Meeting of Shareholders decided to pay no dividends on ordinary and preference shares in the company based on performance results in 2014.
Amount of fixed interest or any other income related to bonds and other issue-grade debt securities or the procedure for determining such amount, dates of payment;
amount of dividends on preference shares or the procedure for determining such amount if specified in the articles of association of the issuing joint-stock company, dates of payment;
amount of declared dividends on ordinary shares (if no information is available about the amount of declared dividends on ordinary shares in the current year, specify the amount of dividends declared in the previous year), dates of payment
Additional information:
The information specified includes the actually placed shares of the additional issue of PJSC LENENERGO.
Type of securities: bonds
Full corporate name of the issuer: Interregional Distribution Grid Company of Centre, Public Joint-Stock Company
Short corporate name of the issuer: IDGC of Centre, PJSC
Location of the issuer: Moscow, Russia
INN (Taxpayer Identification Number): 6901067107
OGRN (Principal State Registration Number): 1046900099498
State Registration Date of the Issue(s)
|
Registration Number
|
Registration Agency
|
June 25, 2013
|
4B02-02-10214-A
|
MICEX Stock Exchange
|
June 25, 2013
|
4B02-04-10214-A
|
MICEX Stock Exchange
|
Number of securities owned by the issuer: 10,000,000
Total par value of securities owned by the issuer: 10,000,000 rubles x 1,000
Maturity: on the 3,640th day after the placement start date
Total book value of securities owned by the issuer: 10,000,000
Unit of measurement: rubles in thousands
The issuer of securities is a subsidiary and/or dependent company of the issuer that prepared this quarterly report.
The bond interest rate of the 4B02-02-10214-A issue is 12.42% per annum; the date when the issuer purchases the offered bonds is June 5, 2018; the bond redemption date is May 23, 2025. The bond interest rate of the 4B02-04-10214-A issue is 11.58% per annum; the date when the issuer purchases the offered bonds is November 19, 2019, and November 17, 2022; the bond redemption date is November 11, 2025.
Amount of fixed interest or any other income related to bonds and other issue-grade debt securities or the procedure for determining such amount, dates of payment;
amount of dividends on preference shares or the procedure for determining such amount if specified in the articles of association of the issuing joint-stock company, dates of payment;
amount of declared dividends on ordinary shares (if no information is available about the amount of declared dividends on ordinary shares in the current year, specify the amount of dividends declared in the previous year), dates of payment
Investments in non-issue-grade securities
Investments in non-issue-grade securities accounting for 5 percent or more of total financial investments: none
The issuer established a reserve for impairment of financial investments in securities.
Value of the reserve for impairment of financial investments in securities as of the beginning and end of the most recently closed fiscal year prior to the last date of the most recent reporting quarter:
Reserves for impairment of financial investments in shares were as follows:
3,456,377 thousand rubles as of December 31, 2014;
3,454,519 thousand rubles as of December 31, 2015.
Other financial investments
Other financial investments accounting for 5 percent or more of total financial investments: none
Information concerning the value of potential losses associated with the bankruptcy of entities (enterprises) in which investments were made by type of the above-mentioned investment:
None
Information about losses is provided according to the issuer’s estimate of the financial investments recorded in the issuer’s accounting statements for the period from the beginning of the reporting year to the last date of the most recent reporting quarter.
Accounting standards (rules) in accordance with which the issuer made calculations recognized in this paragraph of the quarterly report:
Accounting records of financial investments are kept in accordance with Regulations for Accounting 19/02 “Financial Investment Accounting” approved by Order of the Ministry of Finance of the Russian Federation No. 126n of December 10, 2002 (as amended and supplemented).
|