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Information Translation JSC Inter RAO 2014 Annual Report
1 Information translation JSC Inter RAO 2014 Annual Report Preliminarily approved by the Board of Directors of JSC Inter RAO on April 07, 2015 (Minutes No. 138 of the meeting of the Board of Directors dated April 09, 2015). Management Board Boris Kovalchuk Chairman Chief Accountant Alla Vaynilavichute 2 Table of content 1 Report overview ........................................................................................................................ 4 2 General information on Inter RAO Group .................................................................................. 8 2.1 About Inter RAO Group ..................................................................................................... 8 2.2 Group's key performance indicators ................................................................................. 14 2.3 Inter RAO Group on the energy market ........................................................................... 15 2.4 Associations and partnerships ......................................................................................... 15 3 Statement for JSC Inter RAO shareholders and other stakeholders ........................................ 18 4 Development strategy of Inter RAO Group and its implementation ......................................... 21 4.1 Strategy of the Company ................................................................................................. 21 4.2 Business model .............................................................................................................. -
Specialised Asset Management
specialised research and investment group Russian Power: The Greatest Sector Reform on Earth www.sprin-g.com November 2010 specialised research and investment group Specialised Research and Investment Group (SPRING) Manage Investments in Russian Utilities: - HH Generation - #1 among EM funds (12 Months Return)* #2 among EM funds (Monthly return)** David Herne - Portfolio Manager Previous positions: Member, Board of Directors - Unified Energy Systems, Federal Grid Company, RusHydro, TGK-1, TGK-2, TGK-4, OGK-3, OGK-5, System Operator, Aeroflot, etc. (2000-2008) Chairman, Committee for Strategy and Reform - Unified Energy Systems (2001-2008) Boston Consulting Group, Credit Suisse First Boston, Brunswick. * Top 10 (by 12 Months Return) Emerging Markets (E. Europe/CIS) funds in the world by BarclayHedge as of 30 September 2010 ** Top 10 (by Monthly Return) Emerging Markets (E. Europe/CIS) funds in the world by BarclayHedge as of 31 August 2010 2 specialised research and investment group Russian power sector reform: Privatization Pre-Reform Post-Reform Government Government 52% 1 RusHydro 1 FSK RAO ES RAO UES 58% 79% hydro generation HV distribution 53% Far East Holding control control Independent energos 53% 1 MRSK Holding 14 TGKs 0% (Bashkir, Novosibirsk, ~72 energos 0% generation (CHP) generation Irkutsk, Tat) 35 federal plants transmission thermal 11 MRSK distribution 51% hydro LV distribution 0% ~72 SupplyCos supply 6 OGKs other 0% generation 45% InterRAO 0% ~100 RepairCos Source: UES, Companies Data, SPRING research 3 specialised research -
Energy Without Borders
2011 GENERATING ASSETS 27 THERMAL POWER PLANTS, 2 HYDROPOWER PLANTS AND 1 WIND FARM IN THE MANAGEMENT INSTALLED CAPACITY 28.2 GW (+45.8%) SHARE IN THE TOTAL INSTALLED CAPACITY OF RUSSIA 10.2% GENERATION OF ELECTRIC POWER 116.9BN KW*H (+37.3%) BOILER HEAT THERMAL POWER 19.8M GCAL (+0.5%) POWER SUPPLY ASSETS ENERGY POWER SUPPLY ASSETS ENERGY SALES VOLUME AT THE RETAIL MARKET 143.1BN KW*H (SHARE AT THE RF MARKET 14.02%) POWER GRID ASSETS TOTAL LENGTH OF POWER TRANSMISSION LINES ABROAD 34265 KM (+1.1%) ELECTRICITY EXPORT AND IMPORT EXPORT VOLUME 22.7BN KW*H (+21.9%) (INCLUDING AZERBAIJAN +148.1% BELARUS +10774.7% GEORGIA +111.2% KAZAKHSTAN +60.5% CHINA +26.0% LITHUANIA +8.6% MONGOLIA +23.2% SOUTH OSSETIA +11.7% IMPORT VOLUME +17.2% (INCLUDING AZERBAIJAN +93.2% KAZAKHSTAN +58.0%) FINANCIAL INDICATORS REVENUE 536.2BN RUB (+15.5%) EBITDA 41.7BN RUB (+24.1%) NET PROFIT 41.5BN RUB (+123.1%) CAPITAL EXPENDITURES 32.5BN RUB (+97.0%) TOTAL ASSETS 531.9BN RUB (+113.5%) TOTAL EQUITY 390.7BN RUB (+180.9%) NUMBER OF PERSONNEL AS OF DECEMBER 31, 2011 47014 PERSONS ENERGY WITHOUT BORDERS ANNUAL REPORT 2011 JSC “INTER RAO UES” Contents ENERGY WITHOUT BORDERS.........................................................................................................................................................1 ADDRESS BY THE CHAIRMAN OF THE BOARD OF DIRECTORS AND THE CHAIRMAN OF THE MANAGEMENT BOARD OF JSC “INTER RAO UES”..............................................................................................................8 1. General Information about the Company and its Place in the Industry...........................................................10 1.1. Brief History of the Company......................................................................................................................... 10 1.2. Business Model of the Group..........................................................................................................................12 1.4. -
Annual Report ‘06 Contents
ANNUAL REPORT ‘06 CONTENTS MESSAGE TO SHAREHOLDERS ————————————————————————————— 4 MISSION AND STRATEGY ———————————————————————————————— 7 COMPANY OVERVIEW ————————————————————————————————— 13 ² GENERAL INFORMATION 13 ² GEOGRAPHIC LOCATION 14 ² CALENDAR OF KEY 2006 EVENTS 15 ² REORGANIZATION 16 CORPORATE GOVERNANCE —————————————————————————————— 21 ² PRINCIPLES AND DOCUMENTS 21 ² MANAGEMENT BODIES OF THE COMPANY 22 ² CONTROL BODIES 39 ² AUDITOR 40 ² ASSOCIATED AND AFFILIATED COMPANIES 40 ² INTERESTED PARTY TRANSACTIONS 41 SECURITIES AND EQUITY ——————————————————————————————— 43 ² CHARTER CAPITAL STRUCTURE 43 ² STOCK MARKET 44 ² DIVIDEND HISTORY 48 ² REGISTRAR 49 OPERATING ACTIVITIES. KEY PERFORMANCE INDICATORS ——————————————— 51 ² GENERATING FACILITIES 51 ² FUEL SUPPLY 52 ² ELECTRICITY PRODUCTION 56 ² HEAT PRODUCTION 59 ² BASIC PRODUCTION ASSETS REPAIR 59 ² INCIDENT AND INJURY RATES. OCCUPATIONAL SAFETY 60 ² ENVIRONMENTAL SAFETY 61 ELECTRICITY AND HEAT MARKETS ——————————————————————————— 65 ² COMPETITIVE ENVIRONMENT. OVERVIEW OF KEY MARKETS 65 ² ELECTRICITY AND HEAT SALES 67 FINANCIAL OVERVIEW ————————————————————————————————— 73 ² FINANCIAL STATEMENTS 73 ² REVENUES AND EXPENSES BREAKDOWN 81 INVESTMENT ACTIVITIES ———————————————————————————————— 83 ² INVESTMENT STRATEGY 83 ² INVESTMENT PROGRAM 84 ² INVESTMENT PROGRAM FINANCING SOURCES 86 ² DEVELOPMENT PROSPECTS 87 INFORMATION TECHNOLOGY DEVELOPMENT —————————————————————— 89 PERSONNEL AND SOCIAL POLICY. SOCIAL PARTNERSHIP ———————————————— 91 INFORMATION FOR INVESTORS AND SHAREHOLDERS —————————————————— -
Annual Report
2014 ANNUAL REPORT TABLE OF CONTENTS Sistema today 2 Corporate governance system 91 History timeline 4 Corporate governance principles 92 Company structure 8 General Meeting of shareholders 94 President’s speech 10 Board of Directors 96 Strategic Review 11 Commitees of the Board of Directors 99 Strategy 12 President and the Management Board 101 Sistema’s financial results 20 Internal control and audit 103 Shareholder capital and securities 24 Development of the corporate 104 governance system in 2014 Our investments 27 Remuneration 105 MTS 28 Risks 106 Detsky Mir 34 Sustainable development 113 Medsi Group 38 Responsible investor 114 Lesinvest Group (Segezha) 44 Social investment 115 Bashkirian Power Grid Company 52 Education, science, innovation 115 RTI 56 Culture 117 SG-trans 60 Environment 119 MTS Bank 64 Society 121 RZ Agro Holding 68 Appendices 124 Targin 72 Binnopharm 76 Real estate 80 Sistema Shyam TeleServices 84 Sistema Mass Media 88 1 SISTEMA TODAY Established in 1993, today Sistema including telecommunications, companies. Sistema’s competencies is a large private investor operating utilities, retail, high tech, pulp and focus on improvement of the in the real sector of the Russian paper, pharmaceuticals, healthcare, operational efficiency of acquired economy. Sistema’s investment railway transportation, agriculture, assets through restructuring and portfolio comprises stakes in finance, mass media, tourism, attracting industry partners to predominantly Russian companies etc. Sistema is the controlling enhance expertise and reduce -
An Overview of Boards of Directors at Russia's Largest Public Companies
An Overview Of Boards Of Directors At Russia’s Largest Public Companies Andrei Rakitin Milena Barsukova Arina Mazunova Translated from Russian August 2020 Key Results According to information disclosed by 109 of Russia’s largest public companies: “Classic” board compositions of 11, nine, and seven seats prevail The total number of persons on Boards of the companies under study is not as low as it might seem: 89% of all Directors were elected to only one such Board Female Directors account for 12% and are more often elected to the audit, nomination, and remuneration committees than to the strategy committee Among Directors, there are more “humanitarians” than “techies,” while the share of “techies” among chairs is greater than across the whole sample The average age for Directors is 53, 56 for Chairmen, and 58 for Independent Directors Generation X is the most visible on Boards, and Generation Y Directors will likely quickly increase their presence if the impetuous development of digital technologies continues The share of Independent Directors barely reaches 30%, and there is an obvious lack of independence on key committees such as audit Senior Independent Directors were elected at 17% of the companies, while 89% of Chairs are not independent The average total remuneration paid to the Board of Directors is RUR 69 million, with the difference between the maximum and minimum being 18 times Twenty-four percent of the companies disclosed information on individual payments made to their Directors. According to this, the average total remuneration is approximately RUR 9 million per annum for a Director, RUR 17 million for a Chair, and RUR 11 million for an Independent Director The comparison of 2020 findings with results of a similar study published in 2012 paints an interesting dynamic picture. -
a Leading Energy Company in the Nordic Area
- a leading energy company in the Nordic area Presentation for investors September 2007 Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any Fortum shares. Past performance is no guide to future performance, and persons needing advice should consult an independent financial adviser. 2 • Fortum today • European power markets • Russia • Financials / outlook • Supplementary material 3 Fortum's strategy Fortum focuses on the Nordic and Baltic Rim markets as a platform for profitable growth Become the leading Become the power and heat energy supplier company of choice Benchmark business performance 4 Presence in focus market areas Nordic Generation 53.2 TWh Electricity sales 60.2 TWh Distribution cust. 1.6 mill. Electricity cust. 1.3 mill. NW Russia Heat sales 20.1 TWh (in associated companies) Power generation ~6 TWh Heat production ~7 TWh Baltic countries Heat sales 1.0 TWh Poland Distribution cust. 23,000 Heat sales 3.6 TWh Electricity sales 8 GWh 2006 numbers 5 Fortum Business structure Fortum Markets Fortum's comparable Large operating profit in 2006 NordicNordic customers EUR 1,437 million Fortum wholesalewholesale Small Power marketmarket customers Generation Nord Pool and Markets 0% bilateral Other retail companies Deregulated Distribution 17% Regulated Transmission Power and system Fortum Heat 17% Generation services Distribution 66% 6 Strong financial position ROE (%) EPS, cont. (EUR) Total assets (EUR billion) 20 1.50 1.42 20.0 16.8 17.5 17.3 1.22 18 15.1 -
HEDGE EFFECTIVENESS of the RTS INDEX FUTURES Anastasia Musorgina a Thesis Submitted to the University of North Carolina in Part
HEDGE EFFECTIVENESS OF THE RTS INDEX FUTURES Anastasia Musorgina A Thesis Submitted to the University of North Carolina in Partial Fulfillment of the Requirements for the Degree of Master of Business Administration Cameron School of Business University of North Carolina Wilmington 2011 Approved by Advisory Committee Nivine Richie Rob Burrus Cetin Ciner Chair Accepted by _____________________________ Dean, Graduate School TABLE OF CONTENTS ABSTRACT ............................................................................................................................. iii DEDICATION .......................................................................................................................... iv ACKNOWLEDGEMENTS ....................................................................................................... v LIST OF TABLES .................................................................................................................... vi LIST OF FIGURES ................................................................................................................. vii INTRODUCTION ..................................................................................................................... 1 Hedging .................................................................................................................................. 1 Russian Derivatives Market ................................................................................................... 2 Moscow Interbank Currency Exchange ................................................................................ -
Trans-Baykal (Rusya) Bölgesi'nin Coğrafyasi
International Journal of Geography and Geography Education (IGGE) To Cite This Article: Can, R. R. (2021). Geography of the Trans-Baykal (Russia) region. International Journal of Geography and Geography Education (IGGE), 43, 365-385. Submitted: October 07, 2020 Revised: November 01, 2020 Accepted: November 16, 2020 GEOGRAPHY OF THE TRANS-BAYKAL (RUSSIA) REGION Trans-Baykal (Rusya) Bölgesi’nin Coğrafyası Reyhan Rafet CAN1 Öz Zabaykalskiy Kray (Bölge) olarak isimlendirilen saha adını Rus kâşiflerin ilk kez 1640’ta karşılaştıkları Daur halkından alır. Rusçada Zabaykalye, Balkal Gölü’nün doğusu anlamına gelir. Trans-Baykal Bölgesi, Sibirya'nın en güneydoğusunda, doğu Trans-Baykal'ın neredeyse tüm bölgesini işgal eder. Bölge şiddetli iklim koşulları; birçok mineral ve hammadde kaynağı; ormanların ve tarım arazilerinin varlığı ile karakterize edilir. Rusya Federasyonu'nun Uzakdoğu Federal Bölgesi’nin bir parçası olan on bir kurucu kuruluşu arasında bölge, alan açısından altıncı, nüfus açısından dördüncü, bölgesel ürün üretimi açısından (GRP) altıncı sıradadır. Bölge topraklarından geçen Trans-Sibirya Demiryolu yalnızca Uzak Doğu ile Rusya'nın batı bölgeleri arasında bir ulaşım bağlantısı değil, aynı zamanda Avrasya geçişini sağlayan küresel altyapının da bir parçasıdır. Bölgenin üretim yapısında sanayi, tarım ve ulaşım yüksek bir paya sahiptir. Bu çalışmada Trans-Baykal Bölgesi’nin fiziki, beşeri ve ekonomik coğrafya özellikleri ele alınmıştır. Trans-Baykal Bölgesinin coğrafi özelliklerinin yanı sıra, ekonomik ve kültürel yapısını incelenmiştir. Bu kapsamda konu ile ilgili kurumsal raporlardan ve alan araştırmalarından yararlanılmıştır. Bu çalışma sonucunda 350 yıldan beri Rus gelenek, kültür ve yaşam tarzının devam ettiği, farklı etnik grupların toplumsal birliği sağladığı, yer altı kaynaklarının bölge ekonomisi için yüzyıllardır olduğu gibi günümüzde de önem arz ettiği, coğrafyasının halkın yaşam şeklini belirdiği sonucuna varılmıştır. -
Russian Ecm November 6, 2006
1 Russian ecm November 6, 2006 1. Investment banks index wars 2. 35 companies will raise $19bn in 2007, Deutsche Bank 3. RTS to launch a Russian NASDAQ 4. Market players to be licensed 5. Gazprombank finally to sell off media, petrochemical assets in IPO 6. Owner of the Chelyabinsk zinc plant (CZP) will sell 3% of their shares 7. Chemical firm share price collapses after dilutive share issue 8. Dymov Sausage to IPO 9. Eastern Property Holdigns increases capital by $125m 10. Far Eastern Sea Shipping Company will IPO 11. Mosenergo places in favour of Gazprom 12. OGK-5 sale a big success 13. Pharmaceutical producer to IPO 14. Pipemaker TMK IPOs 15. Russian commodity exchange plans to launch wheat futures 16. Severstal sets IPO price 17. Sistema-Hals IPO price range set 18. Uralkaliy decreases 9-month dividends by a third following flood 19. Uranium company to IPO 20. WBD owners sell small stake Investment banks index wars Monday, November 6, 2006 A veritable war of indexes is breaking out as Two of Russia's top investment banks launched new indexes, better to track Russia's increasingly sophisticated growth, that will compete with the proliferating number of indexes tracking Russia. Renaissance Capital has teamed up with emerging market gurus Morgan Stanley that puts together the widely quoted MSCI index - a benchmark for emerging market stock market preformace - to produce the MSCI http://businessneweurope.eu 2 Renaissance Index of TOP Liquid Russian Stocks (the MSCI Rencap Index, for short). Likewise, Troika Dialog launched a third tier index that tracks 50 companies that are on the up and up but currently fall below all the investment bank's radar screens. -
QUARTERLY REPORT Public Joint Stock Company
QUARTERLY REPORT Public Joint Stock Company ROSSETI Issuer Code: 55385-E Quarter 1 of 2018 Address of the issuer: Moscow, Russia The information contained in this Quarterly Report is subject to disclosure in accordance with the securities laws of the Russian Federation Director General ____________ P. A. Livinsky Date: May 15, 2018 signature Director of the Accounting and Reporting Department and Chief Accountant ____________ D. V. Nagovitsyn Date: May 15, 2018 signature Seal Contact person: Kseniya Valerievna Khokholkova, Deputy Head of the Securities and Disclosures Division of the Department for Corporate Governance and Shareholder and Investor Relations Telephone: (495) 995-5333 #3203 Fax: (495) 664-81-33 E-mail: [email protected] The information contained in this Quarterly Report is available on the Internet at www.rosseti.ru and http://www.e-disclosure.ru/portal/company.aspx?id=13806 1 Contents Contents ................................................................................................................................................................. 2 Introduction ............................................................................................................................................................ 5 Section I. Details of the Issuer’s Bank Accounts, Auditor (Audit Organization), Appraiser, and Financial Advisor and the Individuals Who Signed This Quarterly Report .......................................................................... 6 1.1. Bank Account Details of the Issuer ............................................................................................................ -
Joining Efforts Annual Report 2018 | Joining Efforts
JOINING EFFORTS JOINING EFFORTS ANNUAL REPORT IDGC OF CENTER AND VOLGA REGION, PJSC ANNUAL REPORT 2018 | JOINING EFFORTS INFORMATION ABOUT THE REPORT The Annual Report of IDGC of Center and Volga Region for 2018 (hereinafter “the Annual Report”) represents the production and financial results and covers certain aspects of the Company’s corporate governance activities. The Annual Report also includes a brief disclosure of information about the Company’s activities associated with its sustainable growth using certain elements of the GRI Standards methodology, and identifying the UN goals, to which the Company is committed. A more detailed information disclosure on sustainable development issues in full compliance with the requirements of the GRI Standards methodology is provided as part of a specialized report published on the Company’s official website every two years (https://www.mrsk-cp.ru/stockholder_investor/ disclosure_reporting_info/sotsialnye-otchety/). The Annual Report was prepared based on the effective data available to the Company at the time of its drafting. Financial and economic indicators contained in the Annual Report comply with the IFRS, unless otherwise specified. In a number of sections of the Annual Report, figures for the previous periods and expectations, forecasts or plans of the Company regarding future periods are provided to demonstrate the dynamics of significant processes. The information disclosed in the Annual Report, with the exception of financial results under the IFRS, does not include subsidiaries and affiliates of IDGC of Center and Volga Region, as they do not have a significant impact neither on the Company’s performance indicators, nor on the results of its activities aimed at sustainable development.