II. Balance sheet
II.1. Assets
Financial Statements
| No. | Title | Table | As at 31.12.2019 | As at 31.12.2018 |
|---|---|---|---|---|
| A | FIXED ASSETS | 17,519,566,859.55 | 16,500,020,882.71 | |
| I | Intangible assets | 1 | 43,302,383.24 | 38,881,898.73 |
| 1 | R&D expenses | 1 | 0.00 | 0.00 |
| 2 | Goodwill | 1 | 290,977.44 | 411,381.90 |
| 3 | Other intangible assets | 1 | 43,011,405.80 | 38,470,516.83 |
| 4 | Advances for intangible assets | 1 | 0.00 | 0.00 |
| II | Tangible fixed assets | 2, 5 | 17,155,699,481.28 | 16,157,511,130.92 |
| 1 | Tangible fixed assets in use | 2 | 14,138,066,533.28 | 13,709,163,542.65 |
| a | land (including right to perpetual usufruct) | 2 | 259,785,840.68 | 262,519,333.49 |
| b | buildings, premises, civil and water engineering structures | 2 | 9,610,489,344.62 | 9,759,912,430.87 |
| c | technical equipment and machines | 2 | 4,211,561,187.58 | 3,632,770,958.76 |
| d | transport means | 2 | 6,687,804.18 | 11,877,881.78 |
| e | other fixed assets | 2 | 49,542,356.22 | 42,082,937.75 |
| 2 | Tangible fixed assets under construction | 5 | 3,014,086,125.85 | 2,446,650,920.92 |
| 3 | Advances for tangible fixed assets under construction | 6 | 3,546,822.15 | 1,696,667.35 |
| III | Long-term receivables | 0.00 | 0.00 | |
| 1 | From related parties | 0.00 | 0.00 | |
| 2 | From other entities in which the entity has equity interest | 0.00 | 0.00 | |
| 3 | From other entities | 0.00 | 0.00 | |
| IV | Long-term investments | 7, 8 | 15,991,656.25 | 15,991,656.25 |
| 1 | Real property | 0.00 | 0.00 | |
| 2 | Intangible assets | 0.00 | 0.00 | |
| 3 | Long-term financial assets | 7, 8 | 15,991,656.25 | 15,991,656.25 |
| a | in related parties | 7 | 15,959,828.00 | 15,959,828.00 |
| - shares | 7 | 15,959,828.00 | 15,959,828.00 | |
| b | in other entities in which the entity has equity interest | 8 | 31,828.25 | 31,828.25 |
| - shares | 8 | 31,828.25 | 31,828.25 | |
| c | in other entities | 0.00 | 0.00 | |
| 4 | Other long-term investments | 0.00 | 0.00 | |
| V | Long-term prepayments | 304,573,338.78 | 287,636,196.81 | |
| 1 | Deferred income tax assets | 14 | 303,214,166.50 | 287,167,154.92 |
| 2 | Other accruals | 1,359,172.28 | 469,041.89 | |
| B | CURRENT ASSETS | 3,120,488,900.53 | 3,876,963,098.13 | |
| I | Inventory | 17 | 73,137,070.22 | 58,726,010.71 |
| 1 | Materials | 17 | 73,124,993.36 | 57,715,331.23 |
| 2 | Semi-finished products and work in progress | 17 | 0.00 | 0.00 |
| 3 | Finished products | 17 | 0.00 | 0.00 |
| 4 | Goods | 17 | 0.00 | 968,240.00 |
| 5 | Advances for deliveries and services | 17 | 12,076.86 | 42,439.48 |
| II | Short-term receivables | 18 | 1,053,235,624.31 | 1,263,601,287.44 |
| 1 | Receivables from related parties | 18 | 1,614,614.93 | 1,057,581.67 |
| a | trade receivables, maturing: | 18 | 1,614,614.93 | 1,057,581.67 |
| - up to 12 months | 18 | 1,614,614.93 | 1,057,581.67 | |
| b | other | 18 | 0.00 | 0.00 |
| 2 | Receivables from other entities in which the entity has equity interest | 18 | 5,868,704.20 | 3,253,230.06 |
| a | trade receivables, maturing: | 18 | 5,868,704.20 | 3,253,230.06 |
| - up to 12 months | 18 | 5,868,704.20 | 3,253,230.06 | |
| b | other | 18 | 0.00 | 0.00 |
| 3 | Receivables from other entities | 18 | 1,045,752,305.18 | 1,259,290,475.71 |
| a | trade receivables, maturing: | 18 | 910,880,753.09 | 1,128,294,161.77 |
| - up to 12 months | 18 | 910,880,753.09 | 1,128,294,161.77 | |
| b | from taxes, subsidies, custom duties, social security and health insurance and other items under public law | 18 | 122,254,616.13 | 118,496,680.34 |
| c | other | 18 | 12,616,935.96 | 12,499,633.60 |
| d | claimed at court | 18 | 0.00 | 0.00 |
| III | Short-term investments | 11 | 1,980,281,952.90 | 2,542,508,092.26 |
| 1 | Short-term financial assets | 11 | 1,980,281,952.90 | 2,542,508,092.26 |
| a | in related parties | 11 | 0.00 | 0.00 |
| b | in other entities | 11 | 29,633,965.53 | 806,041,095.89 |
| - other short-term financial assets | 11 | 29,633,965.53 | 806,041,095.89 | |
| c | Cash and other cash assets | 11 | 1,950,647,987.37 | 1,736,466,996.37 |
| - cash in hand and at bank | 11 | 1,200,180,521.62 | 1,636,034,941.58 | |
| - other cash means | 11 | 750,467,465.75 | 100,432,054.79 | |
| 2 | Other short-term investments | 0.00 | 0.00 | |
| IV | Short-term prepayments | 21 | 13,834,253.10 | 12,127,707.72 |
| C | Called-up share capital (fund) | 0.00 | 0.00 | |
| D | Own shares | 0.00 | 0.00 | |
| TOTAL ASSETS | 20,640,055,760.08 | 20,376,983,980.84 | ||
II.2. Liabilities
| No. | Title | Table | As at 31.12.2019 | As at 31.12.2018 |
|---|---|---|---|---|
| A | EQUITY | 15,133,536,668.38 | 14,515,983,014.01 | |
| I | Share capital | 22 | 9,605,473,000.00 | 9,605,473,000.00 |
| II | Supplementary capital | 24 | 4,460,883,888.33 | 4,154,659,225.24 |
| III | Revaluation reserve | 0.00 | 0.00 | |
| IV | Other reserve capitals, including: | 24 | 447,240,125.68 | 335,528,278.27 |
| - created in accordance with articles of association | 447,240,125.68 | 335,528,278.27 | ||
| - for own shares | 0.00 | 0.00 | ||
| V | Previous years' profit (loss) | 24 | 0.00 | 0.00 |
| VI | Net profit (loss) | 25 | 729,360,861.37 | 489,907,994.50 |
| VII | Write-off on net profit during the financial year (negative value) | 25 | (109,421,207.00) | (69,585,484.00) |
| B | LIABILITIES AND PROVISIONS FOR LIABILITIES | 5,506,519,091.70 | 5,861,000,966.83 | |
| I | Provisions for liabilities | 26,28,29,30 | 2,561,078,177.90 | 2,517,171,405.57 |
| 1 | Provision for deferred income tax | 26 | 1,621,262,356.35 | 1,605,218,075.56 |
| 2 | Reserve for retirement and similar benefits | 28 | 203,889,889.24 | 161,944,517.02 |
| - long-term | 130,699,311.18 | 110,010,645.74 | ||
| - short-term | 73,190,578.06 | 51,933,871.28 | ||
| 3 | Other provisions | 29, 30 | 735,925,932.31 | 750,008,812.99 |
| - short-term | 29 | 735,925,932.31 | 750,008,812.99 | |
| II | Long-term liabilities | 31 | 3,070,447.33 | 9,658,234.56 |
| 1 | To related parties | 0.00 | 0.00 | |
| 2 | Towards other entities in which the entity has equity interest | 0.00 | 0.00 | |
| 3 | To other entities | 31 | 3,070,447.33 | 9,658,234.56 |
| a | credits and loans | 0.00 | 0.00 | |
| b | arising from issuance of debt securities | 0.00 | 0.00 | |
| c | other financial liabilities | 31 | 3,070,447.33 | 9,658,234.56 |
| d | bill-of-exchange liabilities | 0.00 | 0.00 | |
| e | other | 0.00 | 0.00 | |
| III | Short-term liabilities | 1,282,735,004.75 | 1,530,528,620.06 | |
| 1 | Liabilities towards related entities | 32 | 7,578,587.83 | 7,177,981.08 |
| a | trade liabilities, maturing: | 32 | 1,614,846.14 | 1,244,436.12 |
| - up to 12 months | 32 | 1,614,846.14 | 1,244,436.12 | |
| b | other | 5,963,741.69 | 5,933,544.96 | |
| 2 | Liabilities towards other entities in which the entity has equity interest | 32 | 221,467.07 | 572,997.28 |
| a | trade liabilities, maturing: | 32 | 221,467.07 | 572,997.28 |
| - up to 12 months | 32 | 221,467.07 | 572,997.28 | |
| b | other | 0.00 | 0.00 | |
| 3 | Liabilities towards other entities | 1,261,686,626.01 | 1,509,899,956.62 | |
| a | credits and loans | 0.00 | 0.00 | |
| b | arising from issuance of debt securities | 0.00 | 0.00 | |
| c | other financial liabilities | 31 | 7,043,600.46 | 4,489,617.60 |
| d | trade liabilities, maturing: | 32 | 688,043,679.56 | 736,752,296.47 |
| - up to 12 months | 32 | 688,043,679.56 | 736,752,296.47 | |
| e | received advances for deliveries and services | 0.00 | 0.00 | |
| f | bill-of-exchange liabilities | 0.00 | 0.00 | |
| g | from tax, customs, social and health security and other public liabilities | 66,724,446.63 | 49,049,681.35 | |
| h | payroll liabilities | 18,535,038.40 | 19,374,224.71 | |
| i | other | 481,339,860.96 | 700,234,136.49 | |
| 4 | Special funds | 33 | 13,248,323.84 | 12,877,685.08 |
| IV | Accruals | 35 | 1,659,635,461.72 | 1,803,642,706.64 |
| 1 | Negative goodwill | 35 | 165,874,843.10 | 175,005,569.90 |
| 2 | Other prepayments and accruals | 35 | 1,493,760,618.62 | 1,628,637,136.74 |
| - long-term | 35 | 1,408,275,219.22 | 1,207,048,525.63 | |
| - short-term | 35 | 85,485,399.40 | 421,588,611.11 | |
| TOTAL LIABILITIES | 20,640,055,760.08 | 20,376,983,980.84 | ||
III. Profit and loss account — comparative format
| No. | Title | Table | Performance for the period | |
|---|---|---|---|---|
| 01.01.-31.12.2019 | 01.01.-31.12.2018 | |||
| A | Net turnover, of which: | 9,105,506,737.61 | 10,097,050,680.28 | |
| - from related parties | 808,517.83 | 970,948.23 | ||
| I | Net revenues from sales of products | 36 | 5,059,166,792.01 | 6,750,569,029.98 |
| II | Change in the balance of products (increase – positive value, decrease – negative value) | 304,077,746.88 | 64,530,677.57 | |
| III | Manufacturing cost of products for internal purposes | 0.00 | 0.00 | |
| IV | Net revenues from sales of goods and materials | 36 | 3,742,262,198.72 | 3,281,950,972.73 |
| B | Operating expenses | 8,266,475,328.50 | 9,478,295,376.77 | |
| I | Depreciation | 637,550,428.82 | 629,023,414.17 | |
| II | Consumption of materials and energy | 373,877,893.39 | 175,142,370.42 | |
| III | External services | 2,779,949,222.81 | 4,697,516,205.16 | |
| IV | Taxes and charges, including: | 313,447,101.13 | 294,446,623.78 | |
| - excise duty | 296,720.00 | 1,186,656.00 | ||
| V | Payroll | 287,552,572.68 | 277,854,311.55 | |
| VI | Social security and other benefits, including: | 109,098,715.21 | 102,549,459.30 | |
| - retirement pension-related | 24,713,876.12 | 22,891,664.92 | ||
| VII | Other costs by type | 46,509,147.53 | 42,746,886.43 | |
| VIII | Value of goods and materials sold | 3,718,490,246.93 | 3,259,016,105.96 | |
| C | Profit (loss) on sales (A-B) | 839,031,409.11 | 618,755,303.51 | |
| D | Other operating revenues | 38 | 130,523,044.02 | 85,888,436.91 |
| I | Profit on sales of non-financial fixed assets | 38 | 3,754,603.08 | 27,939.14 |
| II | Subsidies | 38 | 21,550,700.40 | 21,459,636.92 |
| III | Revaluation of non-financial assets | 0.00 | 0.00 | |
| IV | Other operating revenues | 38 | 105,217,740.54 | 64,400,860.85 |
| E | Other operating expenses | 39 | 94,602,127.14 | 145,827,388.02 |
| I | Loss on sales of non-financial fixed assets | 39 | 9,400,939.49 | 10,296,666.55 |
| II | Revaluation of non-financial assets | 39 | 15,714,374.09 | 2,322,804.76 |
| III | Other operating expenses | 39 | 69,486,813.56 | 133,207,916.71 |
| F | Profit (loss) on operating activities (C+D-E) | 874,952,325.99 | 558,816,352.40 | |
| G | Financial revenues | 40,41,42 | 34,277,487.37 | 51,450,177.19 |
| I | Dividends and profit sharing, including: | 40 | 0.00 | 0.00 |
| a | from related parties | 40 | 0.00 | 0.00 |
| b | from other entities | 40 | 0.00 | 0.00 |
| II | Interest, including: | 41 | 32,343,333.23 | 44,434,099.81 |
| - from related entities | 41 | 0.00 | 0.00 | |
| III | Gain on disposal of financial assets | 0.00 | 0.00 | |
| IV | Revaluation of financial assets | 0.00 | 0.00 | |
| V | Other | 42 | 1,934,154.14 | 7,016,077.38 |
| H | Financial expenses | 43,44 | 7,622,328.78 | 2,511,275.53 |
| I | Interest, including: | 43 | 4,528,054.20 | 1,172,571.56 |
| - for related entities | 43 | 0.00 | 0.00 | |
| II | Loss on sales of financial assets | 0.00 | 0.00 | |
| III | Revaluation of financial assets | 0.00 | 0.00 | |
| IV | Other | 44 | 3,094,274.58 | 1,338,703.97 |
| I | Gross profit (loss) (F+G-H) | 901,607,484.58 | 607,755,254.06 | |
| J | Income tax | 45 | 172,246,623.21 | 117,847,259.56 |
| K | Other statutory reductions in profit (increases in loss) | 0.00 | 0.00 | |
| L | Net profit (loss) (I-J-K) | 729,360,861.37 | 489,907,994.50 | |
IV. Statement of changes in equity
| No. | Title | Table | 01.01.-31.12.2019 | 01.01.-31.12.2018 |
|---|---|---|---|---|
| I. | OPENING BALANCE OF EQUITY (OB) | 14,515,983,014.01 | 14.097.919.503.51 | |
| 1. | Opening balance of share capital | 22 | 9,605,473,000.00 | 9.605.473.000.00 |
| 1.1. | Changes in share capital | 0.00 | 0.00 | |
| 1.2. | Closing balance of share capital (fund) | 22 | 9,605,473,000.00 | 9.605.473.000.00 |
| 2. | Opening balance of supplementary capital (fund) | 24 | 4,154,659,225.24 | 3.779.852.661.09 |
| 2.1 | Changes in supplementary capital | 24 | 306,224,663.09 | 374.806.564.15 |
| a | increase due to: | 24 | 306,224,663.09 | 374.806.564.15 |
| - profit distribution | 24 | 306,224,663.09 | 374.806.564.15 | |
| - resolution of the Extraordinary General Meeting — decrease in the Special Purpose Fund and designation of the amount representing the decrease for supplementary capital | 0.00 | 0.00 | ||
| b | decrease | 0.00 | 0.00 | |
| 2.2 | Closing balance of supplementary capital | 24 | 4,460,883,888.33 | 4.154.659.225.24 |
| 3. | Opening balance of revaluation reserve – changes in the adopted accounting rules (policy) | 0.00 | 0.00 | |
| 3.1 | Changes in revaluation reserve | 0.00 | 0.00 | |
| 3.2 | Closing balance of revaluation reserve | 0.00 | 0.00 | |
| 4. | Opening balance of other reserve capitals | 24 | 335,528,278.27 | 256.851.399.44 |
| 4.1 | Changes in other reserve capitals | 24 | 111,711,847.41 | 78.676.878.83 |
| a | increase due to profit distribution | 24 | 111,711,847.41 | 78.676.878.83 |
| b | decrease pursuant to resolution of the Extraordinary General Meeting — decrease in the Special Purpose Fund and designation of an amount of decrease for supplementary capital | 24 | 0.00 | 0.00 |
| 4.2. | Closing balance of other reserve capital | 24 | 447,240,125.68 | 335.528.278.27 |
| 5. | Opening balance of previous years' profit (loss) | 25 | 489,907,994.50 | 530.951.629.98 |
| 5.1 | Opening balance of previous years' profit | 25 | 489,907,994.50 | 530.951.629.98 |
| 5.2 | Opening balance of previous years' profit, after adjustments | 25 | 489,907,994.50 | 530.951.629.98 |
| a | increase due to | 0.00 | 0.00 | |
| b | decrease due to | 25 | 489,907,994.50 | 530.951.629.98 |
| - transfer to supplementary capital | 25 | 306,224,663.09 | 374.806.564.15 | |
| - profit write-off for special purpose fund | 25 | 111,711,847.41 | 78.676.878.83 | |
| - write off for Company Social Benefits Fund | 25 | 2,386,000.00 | 2.259.000.00 | |
| - write-off for profit payment | 25 | 69,585,484.00 | 75.209.187.00 | |
| 5.3 | Closing balance of previous years' profit | 0.00 | 0.00 | |
| 5.4 | Opening loss brought forward (-) | 0.00 | 0.00 | |
| 5.5 | Opening balance of previous years' loss, after adjustments | 0.00 | 0.00 | |
| 5.6 | Closing balance of previous years' loss | 0.00 | 0.00 | |
| 5.7 | Closing balance of previous years' profit (loss) | 0.00 | 0.00 | |
| 6. | Net result | 619,939,654.37 | 420.322.510.50 | |
| a | net profit | 25 | 729,360,861.37 | 489.907.994.50 |
| b | net loss (negative value) | 0.00 | 0.00 | |
| c | write-offs on profit (negative value) | 25 | (109,421,207.00) | (69.585.484.00) |
| II | CLOSING BALANCE OF EQUITY (CB) | 15,133,536,668.38 | 14.515.983.014.01 | |
| III | EQUITY INCLUDING PROPOSED PROFIT DISTRIBUTION (LOSS COVERAGE) | 15,130,998,668.38 | X |
V. Statement of changes in equity
| No. | Title | Table | 01.01.-31.12.2019 | 01.01.-31.12.2018 |
|---|---|---|---|---|
| A | Operational cash flow | |||
| I | Net profit (loss) | 25 | 729,360,861.37 | 489,907,994.50 |
| II | Total adjustments | 441,725,949.92 | 789,706,146.86 | |
| 1 | Amortisation and depreciation | 637,550,428.82 | 629,023,414.17 | |
| 2 | Exchange gains (losses) | 1,969,743.17 | 2,905,465.47 | |
| 3 | Interest and profit sharing (dividend) | (14,804,931.51) | (14,366,756.16) | |
| 4 | Profit (loss) on investment activities | 15,798,826.46 | 11,367,870.82 | |
| 5 | Change in provisions | 43,906,772.33 | 110,312,303.03 | |
| 6 | Change in inventory | 46 | (2,372,452.89) | 4,567,744.70 |
| 7 | Change in receivables | 46 | 210,365,663.13 | (115,245,313.76) |
| 8 | Change in short-term liabilities excluding credits and loans | 46 | (69,599,177.31) | 285,580,576.86 |
| 9 | Change in prepayments and accruals | 46 | (380,452,274.56) | (124,439,158.27) |
| 10 | Other adjustments | 46 | (636,647.72) | 0.00 |
| III | Net cash flows from operating activity (I±II) | 1,171,086,811.29 | 1,279,614,141.36 | |
| B | Cash flows from investment activities | |||
| I | Inflows | 18,809,519.14 | 14,404,459.37 | |
| 1 | Disposal of intangible and tangible fixed assets | 4,004,587.63 | 37,703.21 | |
| 2 | Disposal of investments in real property and intangible assets | 0.00 | 0.00 | |
| 3 | From financial assets, including: | 14,804,931.51 | 14,366,756.16 | |
| a | in related parties | 0.00 | 0.00 | |
| b | in other entities | 14,804,931.51 | 14,366,756.16 | |
| - interest | 14,804,931.51 | 14,366,756.16 | ||
| 4 | Other inflows from investment activities | 0.00 | 0.00 | |
| II | Outflows | 1,838,575,579.63 | 1,680,163,732.41 | |
| 1 | Purchase of intangible assets and tangible fixed assets | 46 | 1,836,725,424.83 | 1,678,467,065.06 |
| 2 | Investments in real property and intangible assets | 0.00 | 0.00 | |
| 3 | To financial assets, including: | 0.00 | 0.00 | |
| a | in related parties | 0.00 | 0.00 | |
| b | in other entities | 0.00 | 0.00 | |
| 4 | Other outflows from investment activities | 1,850,154.80 | 1,696,667.35 | |
| III | Net cash flows from investment activities (I-II) | (1,819,766,060.49) | (1,665,759,273.04) | |
| C | Cash flows from financial activities | |||
| I | Inflows | 220,822,172.33 | 36,436,049.28 | |
| 1 | Net inflows from issuance of shares and other capital instruments and from capital contributions | 0.00 | 0.00 | |
| 2 | Credits and loans | 0.00 | 0.00 | |
| 3 | Issuance of debt securities | 0.00 | 0.00 | |
| 4 | Other inflows from financial activities | 220,822,172.33 | 36,436,049.28 | |
| II | Outflows | 132,399,319.32 | 98,889,705.00 | |
| 1 | Purchase of own shares | 0.00 | 0.00 | |
| 2 | Dividend and other payments to shareholders | 127,629,137.00 | 96,630,705.00 | |
| 3 | Profit distribution liabilities other than profit distribution payments to shareholders | 2,386,000.00 | 2,259,000.00 | |
| 4 | Repayment of credits and loans | 0.00 | 0.00 | |
| 5 | Redemption of debt securities | 0.00 | 0.00 | |
| 6 | Payment of other financial liabilities | 0.00 | 0.00 | |
| 7 | Payment of liabilities arising from financial leases | 0.00 | 0.00 | |
| 8 | Interest | 0.00 | 0.00 | |
| 9 | Other outflows from financial activities | 2,384,182.32 | 0.00 | |
| III | Net cash flows from financial activities (I-II) | 88,422,853.01 | (62,453,655.72) | |
| D | Total net cash flows (A.III ± B.III ± CIII) | (560,256,396.19) | (448,598,787.40) | |
| E | Balance sheet change in cash, including: | (562,226,139.36) | (451,504,252.87) | |
| Change in cash due to exchange differences | 1,969,743.17 | 2,905,465.47 | ||
| F | Cash opening balance | 2,542,508,092.26 | 2,994,012,345.13 | |
| G | Closing balance of cash, including: | 1,980,281,952.90 | 2,542,508,092.26 | |
| Cash opening balance | 59,530,052.09 | 203,028,058.34 |