Annual Report 2017
Efficiency improvement
and sustainable development
РУС
Annual Report 2017
РУС
APPENDIX 2.

Financial statements

Balance sheet as at December 31, 2017

Organization :
Joint Stock Company "TVEL"

Type of business:
Production of nuclear fuel

Form of incorporation/form of ownership: Joint Stock Company

Measurement unit: in thous. RUB

Location (address):
bld. 24, Bolshaya Ordynka st., Moscow, 119017

Codes:

Form under OKUD 0710001

Date (day, month, year) 31.12.2017

under OKPO 45046040

TIN 7706123550

under OKVED 24.26

under OKОPF / OKFS 1 22 67/16

under OKEI 384

Comments

Index description

Code

As on December 31, 2017

As on December 31, 2016

As on December 31, 2015

ASSETS
I. NON-CURRENT ASSETS

5.1

Intangible assets

1110

1,099,385

1,055,754

1,329,604

5.2

Results of research and development

1120

1,115,609

470,339

511,917

Intangible development assets

1130

–

–

–

Tangible development assets

1140

–

–

–

5.3

Fixed assets

1150

170,416

154,397

245,073

Buildings, vehicles, equipment etc.

1151

170,416

114,382

200,808

Capital investments in progress

1152

–

40,015

40,015

Advances to suppliers

1153

–

–

4,250

Income-bearing investments in tangibles

1160

414,716

416,554

427,667

5.5

Financial investments

1170

203,386,909

209,655,354

223,589,430

Deferred tax assets

1180

5,207,194

209,655,354

1,480,598

Other non-current assets

1190

3,080,489

3,310,529

2,867,665

Total I

1100

214,474,718

219,105,553

230,451,954

II. CURRENT ASSETS

5.4

Stock

1210

59,866,941

68,750,309

84,916,423

  • Raw, materials and other similar assets

1211

7,774,339

8,578,293

8,581,245

  • Work in progress expenditures

1212

45,483,552

48,957,800

61,716,761

  • Finished products and goods for resale

1213

6,592,606

11,214,216

14,618,417

  • Shipped goods

1214

16,444

–

–

  • Other stock and expenses

1219

–

–

–

Value added tax on purchased assets

1220

3,492,685

8,575,202

13,017,390

5.7

Accounts receivable

1230

32,912,114

30,104,703

20,641,223

  • Settlements with buyers and customers

1231

24,291,307

18,387,786

14,927,726

  • Advances made

1232

2,129,997

611,518

2,151,253

  • Other debtors

1233

6,490,810

11,105,399

3,562,244

  • VAT reclaimed

1235

4,176,139

6,576,297

497,216

  • Payments on agent act

1236

1,394,746

2,337,662

2,337,662

  • Unpresented for payment accrued revenue

1234

–

–

–

5.5

Financial investments (excluding cash)

1240

71,473,277

27,797,237

1,640,000

5.6

Cash

1250

3,934,336

9,435,365

42,826,542

Other current assets

1260

361,464

454,658

863,924

Total II

1200

172,040,817

145,117,474

163,905,502

BALANCE

1600

386,515,535

364,223,027

394,357,456

LIABILITIES
III. CAPITAL AND RESERVES

Equity capital (pooled capital, collective capital, contribution of partners)

1310

22,962

22,962

22,962

Own shares redeemed from shareholders

1320

–

–

–

Received contributions from stockholders to share capital before registration of changes in constituent documents

1330

–

–

–

Revaluation of non-current assets

1340

–

–

–

Additional capital (without revaluation)

1350

181731790

181731834

181732335

Reserve capital

1360

522402

258255

125886

5.14

  • Reserves formed in accordance with legislation

1361

521254

257107

124738

  • Reserves formed in accordance with founding documents

1362

1148

1148

1148

Undistributed profit (uncovered loss)

1370

110,095,198

97,246,595

105,197,731

Total III

1400

292,372,352

279,259,646

287,078,914

IV. LONG-TERM LIABILITIES

Borrowed funds

1410

–

–

–

Deferred tax liabilities

1420

–

–

–

Estimated liabilities

1430

–

–

–

Other liabilities

1450

2,450,963

1,429,164

925,753

Total IV

1400

2,450,963

1,429,164

925,753

V. SHORT-TERM LIABILITIES

5.13

Borrowed funds

1510

50,140,638

40,181,112

63,008,851

5.10

Accounts payable

1520

40,584,170

42,507,215

42,253,983

  • Suppliers and contractors

1521

26,847,061

25,586,785

20,874,830

  • Advances received

1522

12,158,164

12,434,174

18,249,393

  • Accounts payable to employees

1523

1,163

1,496

1,356

  • Accounts payable to state non-budget bodies

1524

–

–

70

  • Accounts payable in respect of taxes and levies

1525

3,315

3,318

17,472

  • Other creditors

1526

1,574,467

4,481,442

3,110,862

Deferred income

1530

1,417

2,309

912

5.15

Estimated liabilities

1540

965,995

843,581

1,089,043

Provisions

1546

–

–

–

Accounts payable to customers

1547

–

–

–

Other liabilities

1550

–

–

–

Total V

1500

91,692,220

83,534,217

106,352,789

BALANCE

1700

386,515,535

364,223,027

394,357,456

Show table

Profit and Loss Statement for the year 2017

Organization :
Joint Stock Company "TVEL"

Type of business:
Production of nuclear fuel

Form of incorporation/form of ownership: Joint Stock Company

Measurement unit: in thous. RUB

Location (address):
bld. 24, Bolshaya Ordynka st., Moscow, 119017

Codes:

Form under OKUD 0710002

Date (day, month, year) 31.12.2017

under OKPO 45046040

TIN 7706123550

under OKVED 24.26

under OKОPF / OKFS 1 22 67/16

under OKEI 384

Comments

Index description

Code

Over 12 months of 2017

Over 12 months of 2016

5.17

Proceeds, including

2110

145,024,699

147,245,526

proceeds from sale of own products

125,159,028

129,289,163

proceeds from carrying out work, rendering services

15,906,972

14,426,701

5.17

Prime cost of sales, including

2120

(92,972,461)

(94,636,751)

prime cost of sales of own products

(79,127,989)

(83,008,951)

prime cost of carrying out work, rendering services

(12,169,594)

(10,236,737)

Gross profit (loss)

2100

52,052,238

52,608,775

5.17

Commercial expenses

2210

(1,112,599)

(2,142,985)

5.14, 5.17

Management expenses

2220

(9,189,894)

(8,167,555)

Sales profit (loss)

2200

41,749,745

42,298,234

Income from participation in other entities

2310

2,298,168

2,816,603

Interest receivable

2320

5,431,588

1,589,293

Interest payable

2330

(3,802,997)

(4,181,471)

5.18

Other income, including

2340

1,505,471

2,661,314

Income from raw material, supplies and unmarketable goods (net)

–

350,381

Income from foreign currency sales or purchases

364,195

744,039

Income from granting rights of using the results of intellectual activity

204,441

205,221

Income from bad debt reserves

675,872

–

Income of prior years defined in the reporting period (net)

86,145

–

Income from inventory surplus and other property as a result of inventory check

115,880

–

5.18

Other expenses, including

2350

(8,587,531)

(21,352,489)

Expenses from currency differences on liabilities and assets in foreign currency

(480,930)

(6,171,144)

Other expenses from uncompensated disposal of assets

(542,124)

–

Amortization of intangible assets

(228,060)

–

Expense for reserve of investment depreciation/contribution to legal capital of other companies purchased for other purposes

(6,302,919)

(12,709,792)

Expenses for R&D with positive results, not recognized as assets

(468,716)

–

Income (loss) before tax

2300

38,594,444

23,831,484

5.16

Current profit tax

2410

(8,424,376)

(6,978,752)

including permanent tax liabilities (assets)

2421

(150,500)

(218,385)

Variation of deferred tax liabilities

2430

(129,509)

8,959

Variation of deferred tax assets

2450

1,144,129

2,548,432

Other

2460

145,804

(65,867)

Redistribution of profit tax within consolidated group of taxpayers

2465

646,868

2,237,544

Net profit (loss)

2400

31,977,360

21,581,800

For reference only
Result of revaluation of non-current assets not to be included in net profit (loss) of the period

2510

–

–

Result of other operations not to be included in net profit (loss) of the period

2520

(44)

(501)

Cumulative financial result for the period

2500

31,977,316

21,581,299

For reference
Basic earnings (loss) per share

2900

1.39

0.94

Diluted earnings (loss) per share

2910

–

–

Show table

Capital Statement for the year 2017

Organization :
Joint Stock Company "TVEL"

Type of business:
Production of nuclear fuel

Form of incorporation/form of ownership: Joint Stock Company

Measurement unit: in thous. RUB

Location (address):
bld. 24, Bolshaya Ordynka st., Moscow, 119017

Codes:

Form under OKUD 0710003

Date (day, month, year) 31.12.2017

under OKPO 45046040

TIN 7706123550

under OKVED 24.26

under OKОPF / OKFS 1 22 67/16

under OKEI 384

1. Flow of capital

Index description

Code

Equity capital

Own shares redeemed from shareholders

Received contributions from stockholders to share capital before registration of changes in constituent documents

Additional capital

Reserve capital

Undistributed profit (uncovered loss)

Total

Value of the capital as of December 31, 2015

3100

22,962

–

–

181,732,335

125,886

105,197,731

287,078,914

For the year 2016
Increase of capital - total:

3210

–

–

–

278

4,699,894

21,581,800

26,281,972

including:

Net profit

3211

X

X

X

X

X

21,581,800

21,581,800

Revaluation of property

3212

Х

Х

Х

–

X

–

–

Income charged directly to increase of capital

3213

Х

Х

Х

278

4,699,894

–

4,700,172

Additional emission of shares

3214

–

–

–

–

X

–

–

Increase in the par value of shares

3215

–

–

–

–

X

–

–

Reorganization of the legal entity

3216

–

–

–

–

–

–

–

Use of industry-based reserves for investment purposes

3217

Х

Х

Х

Х

Х

–

–

Share capital payment before registration of amendments in founding documents

3218

Х

Х

–

Х

Х

X

–

Reduction of the capital - total:

3220

–

–

–

(779)

(4,567,525)

(29,532,936)

(34,101,240)

including:

Loss

3221

X

X

–

X

X

–

–

Revaluation of property

3222

Х

Х

–

–

X

–

–

Expenses charged directly to reduction of the capital

3223

Х

Х

–

(779)

(4,567,525)

–

(4,568,304)

Decrease in the par value of shares

3224

–

–

–

–

X

–

–

Decrease in the number of shares

3225

–

–

–

–

X

–

–

Reorganization of the legal entity

3226

–

–

–

–

–

–

–

Dividends

3227

Х

Х

–

Х

Х

(29,532,936)

(29,532,936)

Share capital payment before registration of amendments in founding documents

3228

Х

Х

–

Х

Х

X

–

Change in the additional capital

3230

X

X

X

–

–

–

X

Change in the reserve capital

3240

Х

Х

X

Х

–

–

X

Value of the capital as on December 31, 2016

3200

22,962

–

–

181,732,335

258,255

97,246,595

279,259,646

For the year 2017
Increase of the capital — total:

3310

–

–

–

376

5,989,145

31,977,360

37,966,881

including:

Net profit

3311

X

X

X

X

X

31,977,360

31,977,360

Revaluation of property

3312

Х

Х

Х

–

X

–

–

Income charged directly to increase of capital

3313

Х

Х

Х

376

5,989,145

–

5,989,521

Additional emission of shares

3314

–

–

–

–

X

–

–

Increase in the par value of shares

3315

–

–

–

–

X

–

–

Reorganization of the lega entity

3316

–

–

–

–

–

–

–

Use of industry-based reserves for investment purposes

3317

Х

Х

Х

Х

Х

–

–

Share capital payment before registration of amendments in founding documents

3318

Х

Х

–

Х

Х

X

–

Reduction of the capital — total:

3320

–

–

–

(420)

(5,724,998)

(19,128,757)

(24,854,175)

including

Loss

3321

X

X

–

X

X

–

–

Revaluation of property

3322

Х

Х

–

–

X

–

–

Expenses charged directly to reduction of the capital

3323

Х

Х

–

(420)

(5,724,998)

–

(5,724,998)

Decrease in the par value of shares

3324

–

–

–

–

X

–

–

Decrease in the number of shares

3325

–

–

–

–

X

–

–

Reorganization of the legal entity

3326

–

–

–

–

–

–

–

Dividends

3327

Х

Х

–

Х

Х

(19,128,757)

(19,128,757)

Share capital payment before registration of amendments in founding documents

3328

Х

Х

–

Х

Х

X

–

Change in the additional capital

3330

X

X

X

–

–

–

X

Change in the reserve capital

3340

Х

Х

X

Х

–

–

X

Liability on December 31, 2017

3300

22,962

–

–

181,731,790

522,402

110,095,198

292,372,352

Show table

2. CORRECTIONS DUE TO CHANGE IN THE ACCOUNTING POLICY AND ELIMINATION OF ERRORS

Index description

Code

As of December 31, 2015

Changes in the capital for 2016 on account of the net profit (loss)

Changes in the capital for 2016 Based on other factors

As of December 31, 2016

Capital — total

Before corrections

3400

–

–

–

–

Correction due to:

  • change in the accounting policy

3410

–

–

–

–

  • elimination of errors

3420

–

–

–

–

After corrections

3500

–

–

–

–

including
Undistributed profit (uncovered loss)

Before corrections

3401

–

–

–

–

Correction due to:

  • change in the accounting policy

3411

–

–

–

–

  • elimination of errors

3421

–

–

–

–

After corrections

3501

–

–

–

–

Other capital items, where corrections were made

Before corrections

3402

–

–

–

–

Correction due to:

  • change in the accounting policy

3412

–

–

–

–

  • elimination of errors

3422

–

–

–

–

After corrections

3502

–

–

–

–

Show table

3. NET ASSETS

Index description

Code

As of December 31, 2017

As of December 31, 2016

As of December 31, 2015

Net assets

3600

292,373,769

279,261,955

287,079,734

Show table

Cash Flow Statement for the year 2017

Organization :
Joint Stock Company "TVEL"

Type of business:
Production of nuclear fuel

Form of incorporation/form of ownership: Joint Stock Company

Measurement unit: in thous. RUB

Location (address):
bld. 24, Bolshaya Ordynka st., Moscow, 119017

Codes:

Form under OKUD 0710004

Date (day, month, year) 31.12.2017

under OKPO 45046040

TIN 7706123550

under OKVED 24.26

under OKОPF / OKFS 1 22 67/16

under OKEI 384

Index description

Code

Over 12 months of 2017

Over 12 months of 2016

Cash flow associated with day-to-day operations

Receipts — total
including:

4110

147,868,698

139,075,345

From sale of products, goods, works and services

4111

138,058,600

137,008,106

From lease payments, license payments, royalty and other similar payments

4112

418,716

446,160

From re-sale of financial investments

4113

–

–

Other receipts

4119

9,391,382

1,621,079

Payments — total
including:

4120

(104,520,065)

(94,644,551)

To suppliers (contractors) for raw materials, materials, works, services

4121

(85,203,532)

(77,250,914)

Associated with remuneration of employees labour

4122

(2,361,344)

(2,130,913)

Interest on debt obligations

4123

(3,744,963)

(3,984,701)

Corporate profit tax

4124

(6,752,835)

(6,406,575)

Other payments

4129

(6,457,391)

(4,871,448)

Balance of cash flow associated with day-to-day operations

4100

43,348,633

44,430,794

Cash flow associated with investment activities

Receipts — total
including:

4210

101,394,000

121,234,156

Cash flow associated with investment activities

4211

166,486

115,855

From sale of shares (participation shares) in other organizations

4212

93,812,858

916,442

From return of loans granted, from sale of debt securities (rights of funds claim from third parties)

4213

71,118

114,942,600

Dividends, interest from long-term financial investments and similar revenues from share interests in other companies

4214

7,343,539

4,230,926

Other receipts

4219

–

1,028,333

Payments — total
including:

4220

(139,383,978)

(142,314,916)

Associated with acquisition, creation, modernization, reconstruction and preparation for current assets operation

4221

(1,773,012)

1,100,888

Associated with acquisition of shares (participation shares) in other organizations

4222

–

–

Associated with acquisition of debt securities (rights of funds claim from third parties), loans provision to third parties

4223

(137,452,565)

(141,214,028)

Interest on debt obligations included in the value of investment asset

4224

–

–

Other payments

4229

(158,400)

–

Balance of cash flow associated with investment activities

4200

(37,989,978)

(21,080,760)

Cash flow associated with financial activities

Receipts — total
including:

4310

61,117,400

58,507,400

Getting credits and loans

4311

61,117,400

58,507,400

Owners’ (participants’) money deposits

4312

–

–

From issue of shares, increase in participation shares

4313

–

–

From issue of bonds, promissory notes and other debt securities and etc.

4314

–

–

Budgetary provisions and other target financing

4315

–

–

Other receipts

4319

–

–

Payments — total
including:

4320

(71,644,157)

(107,197,008)

To owners (participants) due to repurchase their shares or their resignation

4321

–

–

For payment of dividends and other payments under distribution of profit in favour of owners (participats)

4322

(20,428,757)

(28,232,936)

Associated with payment (repurchase) of promissory notes and other debt securities, repayment of credits and loans

4323

(51,215,400)

(78,964,072)

Other payments

4329

–

–

Balance of cash flow associated with financial operations

4300

(10,526,757)

(48,689,608)

Balance of cash flow for the reporting period

4400

(5,168,103)

(25,339,574)

Balance of cash and cash equivalents as of reporting period beginning

4450

9,435,365

42,826,542

Balance of cash and cash equivalents as of reporting period end

4500

3,934,336

9,435,365

Effect of exchange rate changes to ruble

4490

(332,925)

(8,051,603)

Show table