TVEL JSC
Annual Report
2013
Introduction
Annual Report
2013
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APPENDICESReport of the Audit Committee on the results of the audit of financial and economic activity of 2013
APPENDICESReport of the Audit Committee on the results of the audit of financial and economic activity of 2013Report of the Audit Committee on the results of the audit of financial and economic activity of 2013
Moscow, March 25, 2014
General Provisions
The Audit Committee of the Company with the following membership:
- Chairman of the Audit Committee - Oleg Ivanovich Linyaev- Head of the Department of NFC Life Cycle Projects of ROSATOM State Corporation,
- member of the Audit Committee - Vladimir Vladimirovich Vaskovsky - Head of the Department of option modeling of transaction flows and prices for main products of ROSATOM State Corporation,
- member of the Audit Committee - Irina Mikhailovna Leonova - Head of the Department of Economics and Controlling of ROSATOM State Corporation.
guided by the authority provided to it by the Federal law “On joint stock companies”, the Company’s Charter, the Statement on the Audit Committee of the Company, performed the examination of the financial and economic activity of the Company from January 1, 2015 through December 51,2015.The examination was held from 20through 25 of March, 2014.
During the examination the Company’s chief executive was the President Yury Aleksandrovich Olenin.
The person responsible for preparation of accounting and financial (accounting) statements - from January 1, 2015 through December 51, 2015 was the chief accountant Marina Nikolaevna Guseva.
The founding documents, accounting registers, accounting (financial) statements, analytical materials, matters concerning compliance with corporate procedures and other documents, presented to the Audit Committee, were studied selectively.
General Information about the Company
The Company’s Charterwas approved by the general meeting of shareholders (Minutes No.4 of June 26, 2002). Last changes and amendment to the Company’s Charter were approved by the decision of Atomenergoprom JSC - the sole shareholder of TVELJSC (decision from February 1, 2015).
Company’s share capital consists of ordinary shares with a total nominal value of 22,962 thousand rubles. During 2015 the value of the share capital was not changed.
| Ownership of the Company as of December 31, 2013 | ||
| Item number | Name of the holder | Shareholding, (%) |
| 1 | Atomic Energy Power Corporation JSC | 100 |
In 2015 the Company did not pay the remuneration to the members of the Board of Directors and to the members of the Audit Committee.
Organization of corporate governance (implementation of the decisions of the general meeting of shareholders and the Board of Directors)
Meetings of the Board of Directors was held in accordance with the reguirements of the Law “On joint stock companies”, the Company’s Charter, Regulation of Board of Directors.
Decisions adopted by the Board of Directors were implemented in full and within the established time limit.
In 2013, major transactions requiring reconciliation in accordance with the law, were not carried out by the Company.
Transactions with related parties were carried out in accordance with the requirements of the legislation to the order of making of such transactions.
Transactions with related parties on grounds of Article 81 paragraph 2 of the Federal Law “On joint stock companies” dated December 26,1995 No. 208-FZ were not carried out in 2012.
The Sole shareholder of TVELJSC (decision dated June 28,2013 No. 21) made a decision to direct the net profit for the year 2012 in the amount of 19,079,488 thousand rubles for payment of dividends in the amount of 15,347,488 thousand rubles, on investments - 3,732,000 thousand rubles.
Data on the open operating accounts
| Name of the Bank | Account type | Account number | Amount of funds in the currency as of December 31, 2013 | Amount of funds on the accounts in rubles at the exchange |
| Funds on accounts in rubles | ||||
| SBERBANK OF RUSSIAJSC | Operating | 40702810800020106097 | 253,850,318.81 | 253,850,318.81 |
| SBERBANK OF RUSSIAJSC | Operating | 40702810238060050775 | 3,724,880.67 | 3,724,880.67 |
| SBERBANK OF RUSSIAJSC | Operating | 40702810940020002543 | 1,975,973.06 | 1,975,973.06 |
| BS of SBERBANK OF | Operating | 26007010000157 | 3,160,000.00 | 3,160,000.00 |
| RUSSIA/U PJSC | ||||
| VTB BANK JSC | Operating | 40702810800000005139 | 99,798.59 | 99,798.59 |
| JSCVTB BANK JSC | Operating | 40702810200030004386 | - | - |
| Gazprombank JSC | Operating | 40702810500000007452 | 32,628,039.13 | 32,628,039.13 |
| Gazprombank JSC | Operating | 40702810600000017452 | - | - |
| Gazprombank JSC | Operating | 40702810700000027452 | 4,187.76 | 4,187.76 |
| Gazprombank JSC | Operating | 40702810900001017452 | 15,271,931.33 | 15,271,931.33 |
| Alfa Bank | Operating | 40702810500000017721 | 64,179.54 | 64,179.54 |
| VNESHECONOMBANK | Operating | 40702810645178030518 | 13,083.11 | 13,083.11 |
| MOSCOW BRANCH OFAB | Operating | 40702810700100000123 | 722,013.69 | 722,013.69 |
| ROSSIA JSC | ||||
| Nordea BankJSC | Operating | 40702810102000082922 | 19,314,479.68 | 19,314,479.68 |
| Deutsche Bank LLC | Operating | 40702810300000001082 | 23,560.27 | 23,560.27 |
| INKAROBANK (CISC) JSCB | Operating | 40702810200000000881 | 4,000.00 | 4,000.00 |
| Total funds on accounts in Russian rubles | 330 856 445,64 | 330 856 445,64 | ||
| Funds in accounts in Euro | ||||
| SBERBANK OF RUSSIAJSC | Current | 40702978700020106097 | 8,732,422.25 | 392,696,155.34 |
| SBERBANK OF RUSSIAJSC | Transit | 40702978438061050775 | - | - |
| SBERBANK OF RUSSIAJSC | Current | 40702978138060050775 | 6,099.83 | 274,308.75 |
| SBERBANK OF RUSSIAJSC | Transit | 40702978600020206097 | - | - |
| SBERBANK OF RUSSIAJSC | Current | 40702978840020002543 | - | - |
| SBERBANK OF RUSSIAJSC | Transit | 40702978140021002543 | - | - |
| Gazprombank JSC | Current | 40702978400000007452 | 11,459,454.75 | 515,330,534.16 |
| Gazprombank JSC | Transit | 40702978500007007452 | - | - |
| Alfa Bank | Current | 40702978101300000025 | 68,717.34 | 3,090,211.91 |
| Alfa Bank | Transit | 40702978901300000403 | - | - |
| MOSCOW BRANCH OFAB | Client-transit | 40702978300109000123 | - | - |
| ROSSIA JSC | ||||
| MOSCOW BRANCH OFAB | Current | 40702978600100000123 | - | - |
| ROSSIA JSC | ||||
| Nordea BankJSC | Current | 40702978002000082922 | - | - |
| Nordea BankJSC | Transit | 40702978302001082922 | - | - |
| Deutsche Bank LLC | Current | 40702978400000001358 | - | - |
| Deutsche Bank LLC | Transit | 40702978700000001359 | - | - |
| INKAROBANK (CISC) JSCB | Transit | 40702978800001000371 | - | - |
| INKAROBANK (CISC) JSCB | Current | 40702978900002000306 | - | - |
| Total funds on accounts in Euro | 20 266 694,17 | 911 391 210,16 | ||
| Funds in accounts in US DoLLars | ||||
| SBERBANK OF RUSSIAJSC | Current | 40702840100020106097 | 13,452,479.42 | 440,288,889.43 |
| SBERBANK OF RUSSIAJSC | Current | 40702840538060050775 | 15,282.45 | 500,182.36 |
| SBERBANK OF RUSSIAJSC | Transit | 40702840838061050775 | - | - |
| SBERBANK OF RUSSIAJSC | Transit | 40702840000020206097 | 6,071,978.00 | 198,730,982.36 |
| SBERBANK OF RUSSIAJSC | Transit | 40702840540021002543 | - | - |
| SBERBANK OF RUSSIAJSC | Current | 40702840240020002543 | - | - |
| VTB BANK JSC | Current | 40702840500000005140 | 7,946.07 | 260,068.51 |
| VTB BANK JSC | Transit | 40702840800000005141 | - | - |
| Gazprombank JSC | Current | 40702840800000007452 | 13,718,235.87 | 448,986,885.44 |
| Gazprombank JSC | Transit | 40702840900007007452 | 12.00 | 392.75 |
| Alfa Bank | Current | 40702840100000004586 | 7,982.58 | 261,263.46 |
| Alfa Bank | Transit | 40702840701300000715 | - | - |
| VNESHECONOMBANK | Transit | 40702840645178110518 | 928,000.00 | 30,372,697.60 |
| VNESHECONOMBANK | Current | 40702840945178030518 | 849,122.08 | 27,791,086.38 |
| MOSCOW BRANCH OFAB ROSSIA JSC | Transit | 40702840700109000123 | - | |
| MOSCOW BRANCH OFAB ROSSIA JSC | Current | 40702840000100000123 | - | |
| Nordea BankJSC | Current | 40702840402000082922 | - | - |
| Nordea BankJSC | Transit | 40702840702001082922 | - | - |
| Deutsche Bank LLC | Current | 40702840300000001133 | - | - |
| Deutsche Bank LLC | Transit | 40702840600000001134 | - | - |
| Total funds on accounts in US Dollars | 35 051 038,47 | 1 147 192 448,29 | ||
| Funds on accounts in hryvnya | ||||
| PAT SB Russia | Operating | 26007010000157 | 93,953.26 | 373,181.41 |
| Total funds on accounts in hryvnya | 93,953.26 | 373,181.41 | ||
| Total in rubles at the exchange rate of the CBRF | 2,389,813,285.50 | |||
Financial investments
Long-term fi nancial investments as of December 31, 2013 amounted to 229,717,502 rubles,
| Companies | Item number | Issuer | As of January 1, 2013 | Received | Disposed | As of December 31, 2013 |
| Subsidiaries | 1 | MSZ JSC | 3 925 184 | 2 161 905 | ||
| 2 | JSC NNCP | 504,770 | 555,050 | 1,059,820 | ||
| 3 | NRDС LLC | 453,220 | 453,220 | |||
| 4 | Industrial Innovations CJSC | 1,049,970 | 213,250 | 1,263,220 | ||
| 5 | CMP JSC | 4,833,165 | 4,833,165 | |||
| 6 | JSC VNIINM | 11,086,864 | 11,086,864 | |||
| 7 | RGC JSC | 12,785,960 | 12,785,960 | |||
| 8 | JSC MZP | 3,700,456 | 3,700,456 | |||
| 9 | IK RSK JSC | 153,002,391 | 153,002,391 | |||
| 10 | SPTI JSC | 99,556 | 99,556 | |||
| 11 | UGCMP Ltd. | 3,310,020 | 3,310,020 | |||
| 12 | KLM LLC | 1,000 | 1,000 | |||
| 13 | KC JSC | 225,963 | 225,963 | |||
| TOTAL | 194,978,519 | 768,300 | 193,983,540 | |||
| Associated company | 1 | JSC VPA Tochmash | 806,004 | 806,004 | ||
| 2 | JE UkrTVS CJSC | 4,547 | 4,547 | |||
| 3 | TVEL-Stroy JSC | 2,505 | 2,505 | |||
| 4 | Nf PJSC | 308,876 | 308,876 | |||
| 5 | Uranium Enrichment Center JSC | 196,204 | 2,591,742 | 2,787,942 | ||
| 6 | ALVEL JSC | 1,572 | 1,572 | |||
| 7 | KMP OJSC | 408,700 | 214,459 | |||
| TOTAL | 1,728,408 | 2,591,742 | 4,125,907 | |||
| Other | 1 | First NPF Fund | 500 | 500 | ||
| 2 | Elemash-Energo LLC | 3,000 | 3,000 | |||
| 3 | Atomstroyexport JSC | 72,359 | 72,359 | |||
| 4 | PRIARGUNSKY MINING AND CHEMICAL WORKS JSC | 277590 | 277,590 | |||
| 5 | Atomenergomash JSC | 51 | 51 | |||
| 6 | JSC SGChE | 3,641,034 | 3,641,034 | |||
| 7 | JSC PA ECP | 1 | 1 | |||
| 8 | JSC VPA Tochmash | 437,870 | 437,870 | |||
| 9 | Centrotech-SPb | 181 | 181 | |||
| 10 | OKB — Nizhny Novgorod CJSC | 143 | 143 | |||
| 11 | Atomredmetzoloto JSC | 29,418,033 | 29,418,033 | |||
| 12 | KMP OJSC | 410,800 | 217,925 | |||
| 13 | KLM LLC | 138,905 | 318,907 | |||
| TOTAL | 33,412,892 | 987,575 | 34,207,594 | |||
| TOTAL SUM | 230,119,819 | 4,347,620 | 232,317,041 |
The value of securities in this table does not include the allowance for impairment of investments in the First NPF Fund in the amount of 500 thousand rubles and RGC JSC in the amount of 2,599,039 rubles.
Short-term financial investments as of December 31, 2013 amounted to 547,687 rubles, including loans issued — 530,000 rubles.
| Date of contract | Borrower | Loan amount, thousandrubles | Disbursement date | Maturity date | Justifi cation (objective, requirement for borrowed funds) | Rate, per cent per annum X | Balance as of December 31, 2013, thousand rubles | |
| Amount | Past due interest | |||||||
| 02.12.13 | JSC VPA Tochmash | 50,000 | 05.12.13 | 04.03.14 | Working capital financing | 6,69 | 50,000 | 0 |
| 02.12.13 | JSC VPA Tochmash | 60,000 | 10.12.13 | 05.03.14 | Working capital financing | 6,67 | 60,000 | 0 |
| 18.12.13 | JSC VPA Tochmash | 40,000 | 24.12.13 | 21.03.04 | Working capital financing | 6,69 | 40,000 | 0 |
| 23.12.13 | JSC VPA Tochmash | 240,000 | 26.12.13 | 25.03.14 | Working capital financing | 6,69 | 240,000 | 0 |
| 24.07.13 | KMP OJSC | 70,000 | 05.08.13 | 05.12.13 | Working capital financing | 6,77 | 70,000 | 0 |
| 21.08.13 | SPTI JSC | 70,000 | 26.08.13 | 26.12.13 | Working capital financing | 6,77 | 70,000 | 0 |
| TOTAL | 530,000 | 0 |
Deposits as of December 31, 2012 are missing.
Receivables
In comparison with the beginning of the year, the receivables increased by 2,995,766 thousand rubles or by 15.14%, and as of December 31, 2013 amounted to 19,780,606 thousand rubles, including long-term receivables 1,106,542 thousand rubles, short term — 18,674,064 thousand rubles, in terms of individual adjustments with the liable partner CTG (consolidated taxpayers group) Atomenergoprom JSC under the contract on establishment of a consolidated taxpayers group dated 10.10.2012.
Trade receivables amounted to 6,520,874 thousand rubles or 32.9% of the total receivables, including the long-term receivables. Receivable for advances paid amounted to 3,612,387 thousand rubles (18.26%), other receivables — 9,647,345 thousand rubles (48.8%).
The largest debtors are the following: Techsnabexport JSC, MBM Paks Nuclear Power Plant CJSC, SE NNEGC Energoatom, CMP JSC, Nf PJSC.
Past due debts with past the limitation period are missing.
Loans and borrowings
Compared with the beginning of the year 2013, loans and borrowings increased by 10,080,283 thousand rubles and as of December 31, 2013 they amounted to 41,725,995 thousand rubles.
Data on the loans and borrowings received by the Company:
| Date of contract | Name of the creditor — lender | Amount of credit (loan) | Maturity date | Rate, per cent per annum as of December | Balance as of December 31,2013, thousand rubles | |
| Amount of the | Post due | |||||
| 26.08.2013 | MSZ JSC | 500,000 | 21.01.2014 | 6.83% | 500,000 | 0 |
| 28.08.2013 | MSZ JSC | 200,000 | 05.02.2014 | 6.86% | 200,000 | 0 |
| 23.10.2013 | MSZ JSC | 300,000 | 19.02.2014 | 6.76% | 300,000 | 0 |
| 19.11.2013 | MSZ JSC | 400,000 | 05.03.2014 | 6.88% | 400,000 | 0 |
| 26.11.2013 | MSZ JSC | 400,000 | 07.04.2014 | 7.01% | 400,000 | 0 |
| 09.12.2013 | MSZ JSC | 450,000 | 05.05.2014 | 7.20% | 450,000 | 0 |
| 10.12.2013 | MSZ JSC | 200,000 | 19.03.2014 | 7.10% | 200,000 | 0 |
| 16.12.2013 | MSZ JSC | 300,000 | 26.05.2014 | 6.95% | 300,000 | 0 |
| 18.12.2013 | MSZ JSC | 350,000 | 16.06.2014 | 6.95% | 350,000 | 0 |
| 26.12.2013 | MSZ JSC | 350,000 | 25.06.2014 | 7.00% | 350,000 | 0 |
| 01.07.2013 | OK RSK JSC | 450,000 | 20.01.2014 | 6.95% | 450,000 | 0 |
| 24.07.2013 | OK RSK JSC | 500,000 | 10.02.2014 | 6.95% | 500,000 | 0 |
| 24.07.2013 | OK RSK JSC | 500,000 | 20.02.2014 | 6.97% | 500,000 | 0 |
| 24.07.2013 | OK RSK JSC | 660,000 | 26.02.2014 | 6.98% | 660,000 | 0 |
| 26.09.2013 | OK RSK JSC | 2,591,700 | 16.04.2014 | 6.75% | 2,591,700 | 0 |
| 02.12.2013 | OK RSK JSC | 200,000 | 05.03.2014 | 6.67% | 200,000 | 0 |
| 02.12.2013 | OK RSK JSC | 50,000 | 12.03.2014 | 6.70% | 50,000 | 0 |
| 18.10.2013 | JSC MZP | 330,000 | 29.01.2014 | 6.72% | 330,000 | 0 |
| 24.10.2013 | JSC MZP | 300,000 | 24.03.2014 | 6.76% | 300,000 | 0 |
| 28.11.2013 | JSC MZP | 80,000 | 13.01.2014 | 6.30% | 80,000 | 0 |
| 20.12.2013 | JSC MZP | 80,000 | 29.01.2014 | 6.44% | 80,000 | 0 |
| 18.12.2013 | JSC VNIINM | 150,000 | 23.01.2014 | 6.31% | 150,000 | 0 |
| 04.06.2013 | JSC AECC | 150,000 | 17.01.2014 | 6.72% | 150,000 | 0 |
| 04.06.2013 | JSC AECC | 100,000 | 23.01.2014 | 6.72% | 100,000 | 0 |
| 04.06.2013 | JSC AECC | 150,000 | 10.02.2014 | 6.75% | 150,000 | 0 |
| 04.06.2013 | JSC AECC | 100,000 | 19.02.2014 | 6.75% | 100,000 | 0 |
| 04.06.2013 | JSC AECC | 100,000 | 24.02.2014 | 6.75% | 100,000 | 0 |
| 04.06.2013 | JSC AECC | 120,000 | 04.03.2014 | 6.76% | 120,000 | 0 |
| 04.06.2013 | JSC AECC | 140,000 | 11.03.2014 | 6.75% | 140,000 | 0 |
| 24.09.2013 | JSC AECC | 100,000 | 09.01.2014 | 6.74% | 100,000 | 0 |
| 22.11.2013 | JSC AECC | 90,000 | 19.03.2014 | 6.75% | 90,000 | 0 |
| 03.12.2013 | JSC AECC | 150,000 | 20.03.2014 | 6.72% | 150,000 | 0 |
| 03.12.2013 | JSC AECC | 150,000 | 27.03.2014 | 6.72% | 150,000 | 0 |
| 03.12.2013 | JSC AECC | 100,000 | 09.04.2014 | 6.74% | 100,000 | 0 |
| 06.12.2013 | Promyshlennye Innovatsii | 470,000 | 19.05.2014 | 6.84% | 470,000 | 0 |
| 06.12.2013 | Promyshlennye Innovatsii | 276,000 | 19.03.2014 | 6.70% | 276,000 | 0 |
| 20.12.2013 | NRDС LLC | 100,000 | 28.01.2014 | 6.44% | 100,000 | 0 |
| 20.12.2013 | NRDС LLC | 230,000 | 26.02.2014 | 6.5,3% | 230,000 | 0 |
| 16.09.2013 | RGC JSC | 65,000 | 29.01.2014 | 6.80% | 65,000 | 0 |
| 28.11.2013 | Uralpribor Ltd. | 50,000 | 31.01.2014 | 6.50% | 50,000 | 0 |
| 03.09.2013 | CC JSC | 50,000 | 12.03.2014 | 6.71% | 50,000 | 0 |
| 03.09.2013 | CC JSC | 300,000 | 19.03.2014 | 6.71% | 300,000 | 0 |
| 31.10.2013 | Centrotech-SPb | 25,000 | 06.02.2014 | 6.42% | 25,000 | 0 |
| 11.12.2013 | Centrotech-SPb | 15,000 | 22.01.2014 | 6.31% | 15,000 | 0 |
| 23.12.2013 | Centrotech-SPb | 30,000 | 06.03.2014 | 6.57% | 30,000 | 0 |
| 23.12.2013 | Centrotech-SPb | 30,000 | 07.04.2014 | 6.73% | 30,000 | 0 |
| 23.12.2013 | Centrotech-SPb | 40,000 | 07.05.2014 | 6.79% | 40,000 | 0 |
| 03.06.2013 | JSC SGChE | 500,000 | 29.01.2014 | 6.74% | 500,000 | 0 |
| 03.06.2013 | JSC SGChE | 800,000 | 06.03.2014 | 6.75% | 800,000 | 0 |
| 06.06.2013 | JSC SGChE | 500,000 | 14.05.2014 | 6.89% | 500,000 | 0 |
| 06.06.2013 | JSC SGChE | 600,000 | 11.04.2014 | 6.80% | 600,000 | 0 |
| 06.06.2013 | JSC SGChE | 1,200,000 | 12.03.2014 | 6.70% | 1,200,000 | 0 |
| 09.12.2013 | JSC SGChE | 600,000 | 17.03.2014 | 6.71% | 600,000 | 0 |
| 09.12.2013 | JSC SGChE | 500,000 | 20.03.2014 | 6.72% | 500,000 | 0 |
| 21.11.2013 | CMP JSC | 180,000 | 10.01.2014 | 6.18% | 180,000 | 0 |
| 21.11.2013 | CMP JSC | 200,000 | 23.01.2014 | 6.28% | 200,000 | 0 |
| 21.11.2013 | CMP JSC | 250,000 | 12.02.2014 | 6.54% | 250,000 | 0 |
| 25.04.2013 | GPB JSC | 41,000 | 25.04.2014 | 2.69% | 1,341,897 | 593 |
| 07.05.2013 | GPB JSC | 29,400 | 07.05.2014 | 2.50% | 1,322,115 | 543 |
| 04.06.2013 | GPB JSC | 70,100 | 04.06.2014 | 2.55% | 2,294,317 | 962 |
| 11.06.2013 | GPB JSC | 31,340 | 13.06.2014 | 2.20% | 1,409,357 | 510 |
| 18.06.2013 | GPB JSC | 49,630 | 18.06.2014 | 2.50% | 1,624,350 | 668 |
| 08.10.2013 | GPB JSC | 45,000 | 04.07.2014 | 2.30% | 1,472,814 | 557 |
| 21.03.2013 | Srednerussky Bank of Sberbank of Russia JSC | 38,900 | 20.03.2014 | 2.75% | 1,273,166 | 576 |
| 17.04.2013 | Srednerussky Bank of Sberbank of Russia JSC | 30,800 | 16.04.2014 | 2.45% | 1,385,073 | 558 |
| 24.04.2013 | Srednerussky Bank of Sberbank of Russia JSC | 59,600 | 23.04.2014 | 2.45% | 2,680,206 | 1,079 |
| 07.08.2013 | Srednerussky Bank of Sberbank of Russia JSC | 34,200 | 06.08.2016 | 3.10% | 1,537,971 | 784 |
| 09.09.2013 | Srednerussky Bank of Sberbank of Russia JSC | 25,000 | 08.09.2016 | 2.90% | 818,230 | 390 |
| 05.03.2013 | Nordea Bank JSC | 24,900 | 05.03.2014 | 2.60% | 1,119,751 | - |
| 16.07.2013 | Nordea Bank JSC | 30,500 | 15.07.2016 | 3.35% | 1,371,582 | - |
| 22.07.2013 | Nordea Bank JSC | 67,665 | 21.07.2016 | 3.30% | 2,214,621 | - |
| 20.08.2013 | Nordea Bank JSC | 45,600 | 20.08.2016 | 2.95% | 2,050,627 | - |
| TOTAL | 41,718,777 | 7,219 |
Accounts payable
In comparison with the beginning of the year, accounts payable, excluding borrowings, increased by 9,362,609 thousand rubles (22.04%) and as of December 31, 2013 amounted to 42,469,489 thousand rubles, including:
- Suppliers and contractors — 22,112,467 thousand rubles;
- Payables to employees — 191 thousand rubles;
- Taxes and levies payable — 17,632,564 thousand rubles;
- Advances received — 17,632,564 thousand rubles;
- Other creditors — 2,709,643 thousand rubles.
The largest creditors are: Department of Atomic Energy, Government of India, Concern Rosenergoatom JSC, MSZ JSC, UEIP JSC, JSC NNCP, JSC PA ECP, JSC AECC, SE NNEGC Energoatom.
Accounts payable, together with borrowing exceeds the accounts receivable for 64,413,286 thousand rubles or by 4.2-folds.
Generation of fi nancial results
Total revenues from sales of goods, products, works and activities amounted to 106,701,619 thousand rubles.
Total revenues from sales of goods, products (works, services) including commercial and administrative expenses amounted to
Financial result on ordinary activities:
| Type of activity | Revenue | Prime cost | Profi t (+), loss (-) |
| Nuclear Fuel Production | 69,204,117 | 42,919,488 | 26,284,629 |
| Nuclear fuel components production | 2,506,046 | 1,741,590 | 764,456 |
| Production of product RGC | 4148190 | 3,659,694 | 488,496 |
| Services for uranium conversion and enrichment for third parties | 23,078,771 | 18,630,872 | 4,447,899 |
| Trade operations | 3,411,785 | 2,903,543 | 508,242 |
| Production of superconducting materials | 1,010,847 | 977,712 | 33,135 |
| Engineering services | 197,954 | 222,168 | -24,214 |
| Other operations | 3,143,909 | 4,667,460 | -1,523,551 |
| TOTAL | 106,701,619 | 75,722,527 | 30,979,092 |
In 2013 commercial expenses amounted 1,302,238 thousand rubles, administrative expenses amounted to 6,803,476 thousand rubles.
In 2013, the loss from other revenues and expenses amounted to 2,516,832 thousand rubles.
| № Item number | Type of revenue | Amount, thousand rubles |
| 1 | Revenues from sales and purchases of foreign currency | 64,090 |
| 3 | Interest receivable | 457,967 |
| 4 | Revenues from interest in a partnership | 4,150,891 |
| 5 | Other revenues | 803,032 |
| TOTAL | 5,475,980 |
Breakdown of other expenses
| № Item number | Type of revenue | Amount, thousand rubles |
| 1 | Revaluation of securities at market value | 2,150,397 |
| 2 | Expenses in the form of exchange rate differences | 1,353,059 |
| 3 | Interest expenses | 1,697,016 |
| 4 | Research and development and Engineering and Design expenses with a positive result, not accepted asset. | 1,242,176 |
| 5 | Other expenses | 1,550,164 |
| TOTAL | 7,992,812 |
Taking inventory
In accordance with Order No. 4/208-П dated August 17, 2013 the Working Inventory Commission of the Company held the planned inventory.
During the inventory any discrepancies among actual availability of property with accounting data were not revealed.
As of December 31, 2013 there are no real estate objects, which are not publicly registered to the ownership rights and which are registered as a part of the fi xed assets.
Information about the property and liabilities on the off balance sheet accounts
- Leased fi xed assets 904,061 thousand rubles
- Material assets accepted for safekeeping — 5,753,133 thousand rubles;
- Material assets accepted for processing — 5,542,317 thousand rubles;
- Fixed assets valued within the limit — 62,028 thousand rubles;
- Securities received for obligations and payments — 348,840 thousand rubles;
- Intangible assets acquired for use — 153,558 thousand rubles.
Final provisions
Reliability of the annual fi nancial statements in all material respects, as well as compliance of the accounting with legislation of the Russian Federation were confi rmed by the Auditor’s report on fi nancial statements by the auditor of Financial and Accounting Consultants LLC (FAC LLC).
НFor the foregoing reasons and in accordance with the result of the examination of the fi nancial and economic activities of the Company the Audit Committee confirms the information contained in the Annual Report of the Company:
The financial results of the Company’s activities in 2013 are reliable.
Accounting statements with the balance value 356,877,032 thousand rubles reliably demonstrate the assets and obligations as of December 31, 2013 and the financial results of the Company’s activities in 2013. The net profit available for distribution for the examined period amounted to 17,124,830 thousand rubles.
| Chairman of the Audit Committee: |  |
Oleg Ivanovich Linyaev |
| Members of the Committee: |  |
Vladimir Vladimirovich Vas’kovsky |
 |
Irina Mikhailovna Leonova |