This cooperation is characterized by the fact that tangible and intangible resources used by the Company (financial, natural, manufactured, human, social and intellectual capitals*), are controlled both by TVEL Fuel Company and its stakeholders. Conversion of capitals in the course of activities is of great importance to the Company and its stakeholders.
Business model describes the activity of TVEL Fuel Company for integrated value creating as a system to the capital employed, production process, products and results obtained. The business model is aimed at achieving the strategic goals through implementation of competitive advantages. The business model takes into account the risks typical for the activities of TVEL Fuel Company, possibilities and risk management capabilities of the Company.
Business model includes: capitals (resources and relations) used by TVEL Fuel Company, manufactured products and services, as well as results of TVEL Fuel Company operations, providing for capitals changes, including increment of resources being used and consolidation of relations with stakeholders.
Business model of TVEL Fuel Company
- Internal resources
- External resources
FINANCIAL CAPITAL
- Undistributed profits and monetary assets
- Accumulated reserves of TVEL FC
- Consolidated investment resources
- Industry reserves
- Means of the Federal target programs
- Loans, credits, subsidies
MANUFACTURED CAPITAL
- High technology production basis, materials (including regenerated and waste uranium)
- Public infrastructure (roads, communication facilities, etc.)
INTELLECTUAL CAPITAL
- Intellectual property assets of TVEL FC
- Global achievements of science and engineering
- Domestic projects
- National intellectual resources
HUMAN CAPITAL
- Staff
- Joint ventures personnel
- Potential workers
- Youth
- Experts, consultants
- Long-service employees, retirees
SOCIAL AND RELATIONSHIP CAPITAL
- Reputation of TVEL FC and its enterprises
- Position in the Global Market of FE NFC
- Strong relations with Russian and foreign customers and suppliers
- Competitive and high quality outputs
- Recognisable and reputable brand name
- Internal relations of TVEL FC
- Public image of the country and nuclear industry
- Interrelations in supply chain
- Initiatives of the state, ROSATOM
NATURAL CAPITAL
- Proprietary and leasable land resources
- Environment
- Natural raw materials
Internal resources
External resources
Net income
Paid dividends
Net assets
registered intellectual
property objects
Social programs
expenditures per 1 employee
Gross tax liabilities
Charitable contributions
Environmental expenses
with radionuclides
rated events
One of the most important factors ensuring efficient business of TVEL Fuel Company is availability of high technology base, modern equipment, machinery and materials (Manufactured Capital) that enable timely and full implementation of production plans. For detailed information concerning the manufactured assets of the Company, please refer to the Section "Business Assets and Operational Results".
Research and development activities (refer to the Section "Intellectual Capital"), related to improvement of the industrial-technological base and core products, have considerable impact on development of TVEL Fuel Company business and the entire nuclear industry and Russian science on the whole. New solutions provide efficiency improvement, affecting positively the financial capital, and allow investing in development of other capitals.
Priorities for the nuclear industry involve development and enhancement of personnel qualification (Human Capital). Human Capital is the key capital of TVEL Fuel Company. The Company offers competitive wages, social protection and wide possibilities for development and career growth. The section "Human Capital" discloses the information on HR and social policy, key achievements in these spheres, ensuring high engagement of personnel.
The most important elements of social and reputation capital are relationships in supply chain, interaction with authorities and local population in terms of development of the regions of presence, positioning of the Company in the global information space, integrated communications with different target audiences, including public, scientific, educating and environmental organizations, investors, shareholders, creditors, distributors, customers of the products and services in nuclear and non-nuclear spheres. The section "Social and Relationship Capital" discloses detailed information concerning the publicity capital, the territories of presence, and interaction with the stakeholders.
Natural Capital is transformed in the course of productive activities of TVEL Fuel Company. The business model scheme represents detailed nuclear production chain: from uranium concentrate processing to nuclear fuel assemblies and customers servicing. TVEL Fuel Company pays great attention to nuclear-radiation and environmental safety, and makes its contribution to address the issues of "nuclear heritage". The section "Environmental Impact" reveals the results of implementation of the environmental policy of the Company.
The positive effects of TVEL Fuel Company's activities on the stakeholders:
- dividends;
- taxes and deductions;
- development of sectoral research and fundamental science;
- provision with ecologically clean electric power;
- contribution to development of educational, cultural and educational spheres;
- awareness of the international community and the Russian society about activities of the Russian nuclear fuel producer;
- development of personnel within the regions of presence;
- provision of business activity on the territories of presence.