Composition, Breakdown and Value of the Issuer’s Fixed Assets, Information Concerning Plans for the Acquisition, Replacement, Retirement of Fixed Assets and All Evidence of Encumbrance of the Iss

3.6. Composition, Breakdown and Value of the Issuer’s Fixed Assets, Information Concerning Plans for the Acquisition, Replacement, Retirement of Fixed Assets and All Evidence of Encumbrance of the Issuer’s Fixed Assets
As of December 31, 2015
Unit of measurement: rubles in thousands
Group of Fixed Assets
|
Initial (Replacement) Value
|
Amount of Accumulated Depreciation
|
Building
|
5,069
|
1,139
|
Plant and equipment (except for office equipment)
|
1,255
|
165
|
Office equipment
|
21,419
|
12,275
|
Equipment and maintenance accessories
|
8,760
|
4,175
|
Computer and business equipment
|
201,507
|
60,105
|
Furniture
|
2,197
|
1,558
|
Construction in progress
|
51,865
|
|
TOTAL
|
292,072
|
79,417
|
Information concerning the method of depreciation accrual by fixed asset group:
Fixed assets are depreciated using the straight-line method.
Reporting date: December 31, 2015
As of March 31, 2016
Unit of measurement: rubles in thousands
Group of Fixed Assets
|
Initial (Replacement) Value
|
Amount of Accumulated Depreciation
|
Building
|
5,069
|
1,178
|
Plant and equipment (except for office equipment)
|
1,085
|
196
|
Office equipment
|
19,509
|
11,660
|
Equipment and maintenance accessories
|
8,728
|
4,409
|
Computer and business equipment
|
222,810
|
67,232
|
Furniture
|
2,197
|
1,626
|
Construction in progress
|
47,464
|
|
TOTAL
|
306,862
|
86,301
|
Information concerning the method of depreciation accrual by fixed asset group:
Fixed assets are depreciated using the straight-line method.
Reporting date: March 31, 2016
Results of the latest revaluation of fixed assets and fixed assets held under long-term lease completed within the most recently closed fiscal year, specifying the revaluation date, the gross book value and residual book value (net of depreciation) of fixed assets before revaluation and the gross book value and residual book value (net of depreciation) of fixed assets adjusted for revaluation. The information shown is by group of fixed assets. Information concerning the depreciation method for each group of fixed assets.
Fixed assets for the above-mentioned period were not revalued.
Details of plans for the acquisition, replacement and retirement of fixed assets whose value accounts for 10 percent or more of the issuer’s fixed asset value and other fixed assets at the issuer’s sole discretion, as well details of all facts of encumbrance of the issuer’s fixed assets (specifying the nature of encumbrance, the start date of encumbrance, its duration and other conditions at the issuer’s sole discretion):
None.
Section IV. Information Concerning the Issuer’s Financial and Economic Activities 4.1. Financial and Economic Performance of the Issuer
Changes in indicators describing the issuer’s financial and economic performance, including making a profit/loss, and 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 uncovered loss amounts: rubles in thousands
Indicator Description
|
2014
|
2015
|
Net profit margin, %
|
51.22
|
58.33
|
Asset turnover ratio, times
|
0.04
|
0.04
|
Return on assets, %
|
1.88
|
2.25
|
Return on equity, %
|
1.89
|
2.53
|
Uncovered loss at balance sheet date
|
0
|
0
|
Ratio of uncovered loss at balance sheet date to book value of assets, %
|
0
|
0
|
See Note 1
|
|
|
Indicator Description
|
3 months of 2015
|
3 months of 2016
|
Net profit margin, %
|
16.07
|
53.89
|
Asset turnover ratio, times
|
0.04
|
0.04
|
Return on assets, %
|
1.89
|
2.21
|
Return on equity, %
|
1.9
|
2.46
|
Uncovered loss at balance sheet date
|
0
|
0
|
Ratio of uncovered loss at balance sheet date to book value of assets, %
|
0
|
0
|
Note 1: The calculation used the amount of net profit less the revaluation of financial investments.
Note 2: For the purposes of correctly analyzing comparable values, the calculation of the indicator “Asset turnover ratio” used the annualized data of the indicator “Revenue.” The calculation of the ratios “Return on assets” and “Return on equity” used the annualized data of the indicator “Net profit.”
Economic analysis of the issuer’s profit/loss based on changes in the above-mentioned indicators; the reasons that are believed by the issuer’s management bodies to have brought about the issuer’s profit/loss recognized in its accounting (financial) statements:
Financial and Economic Performance
Indicator Description
|
2014
|
2014
(adjusted)
|
2015
|
2016
(adjusted)
|
Net profit margin, %
|
-838.56
|
51.22
|
-279.58
|
58.33,
|
Asset turnover ratio, times
|
0.04
|
0.04
|
0.04
|
0.04
|
Return on assets, %
|
-30.77
|
1.88
|
-10.78
|
2.25
|
Return on equity, %
|
-31.01
|
1.89
|
-12.12
|
2.53
|
Uncovered loss at balance sheet date, rubles
|
-233,901,922
|
0.00
|
-252,110,835
|
0.00
|
Ratio of uncovered loss at balance sheet date to book value of assets, %
|
-137.51
|
0.00
|
-149.26
|
0.00
|
The Company’s financial and economic operations in 2015 resulted in a loss of 18,214,294 thousand rubles. In the 1st quarter of 2016, the Company made a profit of 36,903,617 thousand rubles.
The net profit margin changed from 51.22% in 2014 to 58.33% in 2015, largely due to an 18.8% increase in adjusted net profit with a 4.4% increase in revenues.
The loss from the revaluation of financial investments at market value in 2015 was -21,784,229 thousand rubles, while the 1st quarter of 2016 saw a profit of 36,474,934 thousand rubles.
The Company’s return on assets and return on equity in the 1st quarter of 2016 and the 1st quarter of 2015 are higher than in the 1st quarter of 2015 and the 1st quarter of 2014 respectively, which is due to an increase in net profit with the unchanged asset value and equity.
Factors Which Affected the Amount of Revenue from the Sale of Goods, Products, Work, Services by the Issuer and the Issuer’s Profit (Loss) from Operating Activities
Income from ordinary activities for the Company is proceeds under agreements for services in relation to organizing the operation of and to developing electric grid facilities, income from interests in other entities, and revenues from leases and technical supervision services.
In 2015, the Company made a loss of 18,214,294 thousand rubles, which is 34,132,076 thousand rubles lower than in 2014.
The analysis of factors showed that the Company’s performance result in 2015 was mainly affected by changes in other income and expense, including a decreased value of financial investments in subsidiaries and dependent companies.
Assessment of Factors Affecting the Change in Net Profit
Indicator
|
Indicator Deviation (2015 Actuals from 2014 Actuals)
(rubles in thousands)
|
Level of Factor Affecting Change in Net Profit (%)
|
Revenues
|
272,405
|
0.80%
|
Production costs
|
-490,007
|
-1.44%
|
Interest receivable
|
2,156,703
|
6.32%
|
Interest payable
|
-1,125,480
|
-3.30%
|
Other income
|
17,459,096
|
51.15%
|
Other expense
|
15,909,787
|
46.61%
|
Profit tax
|
78,372
|
0.23%
|
Net profit
|
34,132,076
|
100.00%
|
In the 1st quarter of 2016, the Company made a profit of 36,903,617 thousand rubles.
The Company’s financial result is mainly affected by income and expense from the revaluation of financial investments at current market value, which are reflected in the items “Other income” and “Other expense” of the Statement of Financial Performance.
Assessment of Factors Affecting the Change in Net Profit
Indicator
|
Indicator Deviation (Q1 2016 Actuals from Q1 2015 Actuals)
(rubles in thousands)
|
Level of Factor Affecting Change in Net Profit (%)
|
Revenues
|
280,682
|
0.76%
|
Production costs
|
84,657
|
0.23%
|
Interest receivable
|
778,553
|
2.11%
|
Interest payable
|
-878,310
|
-2.39%
|
Other income
|
36,876,109
|
100.15%
|
Other expense
|
-204,419
|
-0.56%
|
Profit tax
|
-33,653
|
-0.09%
|
Net profit
|
36,820,873
|
100.00%
|
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
|