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Annual Report 2012 Year

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Annual Report 2012 Year MOTOR SICH JSC MOTOR SICH JSC 15, Motorostroiteley Ave. Zaporozhye, 69068, Ukraine 2012 Tel.: (38 061) 720-48-14 Fax: (38 061) 720-50-00 Е-mail: [email protected] www.motorsich.com Annual report 2012 CONTENTS Address of the Chairman of the Board Financial and Economic Activity . 44 of Directors of Motor Sich JSC . 3 - Credit Policy of the Company . 46 - Indices of the Company’s Financial Stability, Basic Information about the Company . 4 Business Activity and Credit Worthiness . 47 - Information about the Company . 6 - Information about State Registration Investment Activity of Motor Sich JSC . 6 of the Company . 48 - Information about Statutory Capital. 6 - Capital Investments . 50 - Information about Auditor . 7 - The Company’s Investments - Specialization of the Company . 7 into Legal Entities . 50 - Corporate Strategy of the Company. 7 - Attraction of Budgetary Funds and Investments for - Mission of the Company . 7 Financing the Development and Preproduct - Positioning of the Company in Industry . 8 on of New Kinds of Products in 2012 . 51 Structure of the Company . 10 Securities. 52 - Business Units Located - Analysis of Changes in Cost at the Territory of Ukraine. 12 of the Company’s Shares . 54 - Subdivisions Having Rights to Open Current - Quantity and Structure of Shareholders. 55 - Information about Depositary and Settlement Accounts . 13 of the Company’s Shares . 55 - Subsidiary Companies . 13 - Information about Custodier - Health Resorts . 14 of the Company’s Shares . 55 - Representative Offices of Motor Sich JSC . 16 Main Risk Factors. 56 - Industry Risks. 58 Management Bodies of Motor Sich JSC . 18 - Legal Risks . 58 - The Board of Directors. 20 - Risks Connected with - General Meeting of Shareholders. 22 Production Activity of Emitter. 58 - Supervisory Board . 23 - Financial Risks . 58 - Internal Audit Commission . 24 Personnel and Personnel Policy. 60 Production Activity . 26 - Personnel Structure . 62 - Main Indices of Production - Personnel Development . 62 and Financial Activity . 28 - Prospects of Personnel Policy for 2013 . 63 - Production Activity - Youth Policy of the Company . 64 and Work in progress . 29 - Social Sphere . 64 - Labour and Salary . 30 - Advanced Technologies. 31 Financial Statements. 66 - Certificates and Licences. 32 - Consolidated Balance Sheet . 69 - Service Maintenance . 34 - Consolidated Statement - Priority Activities. 36 of Financial Performance . 70 - Prospects for 2013 . 37 - Consolidated Statement of Changes in Owner's Equity . 71 Foreign Economic Activity . 38 - Consolidation Principles . 72 - Cash Inflow by Regions . 40 - Main Aspects of Accounting Policy . 72 - Participation in Exhibitions . 40 - Notes to Financial Statements . 74 MOTOR SICH Dear Shareholders, Colleagues and Partners! Motor Sich JSC would like to present you its Annual improvement of labour conditions for increasing the Report for 2012. output of main products. Speaking about the Company’s activity in the past year The Company is concerned with personnel policy, we notice with satisfaction that Motor Sich JSC has fin- solution of social problems of emplyees and their ished reporting year with positive results. It is proved families, maintaining healthy moral environment by financial results of 2012. within the staff. The Company has no wage arrears. The wages are paid I would like to express thanks to the Company team, out without delays, according to terms and conditions our shareholders and business partners, all those of Collective Agreement. who help Motor Sich JSC in its successful activities Throughout its history Motor Sich JSC adheres to prin- and stable development in pursuit of new goals. ciples of fair and conscientious business. It allows us to keep unblemished reputation and gain the trust of partners from all over the world. Successful creation of modern production facilities and development of new kinds of highly demanded products has proved correctness of our strategy. Motor Sich JSC applies advanced means of corporate management in order to increase transparency and availability of information for shareholders and potential investors. Chairman of the Board of Directors, Like in previous years, the Company pays great Motor Sich JSC attention to technical upgrading and reconstruction of production facilities, repairing of buildings, V.A. Boguslayev Basic Information about the Company MOTOR SICH n Information about the Company n Information about State Registration of Motor Sich JSC n Information about Statutory Capital n Information about Auditor n Specialization of the Company n Corporate Strategy of the Company n Mission of the Company n Positioning of the Company in Industry MOTOR SICH BASIC INFORMATION ABOUT THE COMPANY Short title: Motor Sich JSC Full title: Motor Sich Joint Stock Company Enterprise code: 14307794 Legal address: 15 Motorostroiteley Avenue, Zaporozhye 69068, Ukraine Tel: (38 061) 720-48-14 Fax: (38 061) 720-50-00 E-mail: [email protected] Web-site: www.motorsich.com INFORMATION ABOUT STATE REGISTRATION OF MOTOR SICH JSC Place of registration – the Executive Committee of Zaporozhye City Council. Date of state registration – 25.05.1994. INFORMATION ABOUT STATUTORY CAPITAL The statutory capital of Motor Sich JSC is UAH 280,529,650.00. It is divided into 2,077,990 simple registered shares issued in book-entry form. Nominal value of each share is UAH 135. Number of Certificate about registration of shares in book-entry form: 205/1/11 Registration body: the State Commission on Securities and Stock market. ISIN code assigned to simple registered shares of Motor Sich JSC by the National Depositary of Ukraine: UA 4000143135. Each simple registered share of Motor Sich JSC provides the same scope of rights to its owner (shareholder). Motor Sich JSC is the first Ukrainian issuer who has implemented Global Depositary Receipt Program with Deutsche Bank. Deutsche Bank Trust Company Americas is appointed the exclusive custody of Motor Sich global depositary receipts (GDR). GDR/shares ratio is 10:1. Motor Sich JSC has taken up obligations to protect the rights of GDR holders, inform them, granted the right to participate in the Company management and obtain part of profit in the form of dividends, guaranteed possibility to convert GDR into shares. 6 ANNUAL REPORT 2012 INFORMATION ABOUT AUDITOR Authenticity and completeness of financial reports of Motor Sich JSC for 2012 is confirmed by private auditing company “ZaporozhAudit. Taxes. Law” (Enterprise Code 13625523) according to Agreement No 2729/09-Д (General Accounting), dated 10.04.2009. Location of auditing company: 8 Tikhy Pereulok Street, Zaporozhye. Date of state registration of private auditing company “ZaporozhAudit. Taxes. Law” – 21.01.1994; Enterprise code – 1 103 120 0000 012930. Certificate of Auditing Chamber No. 0057, dated 26.01.2001, about regis- tration as an auditing entity. Validity term of Certificate is extended till November 04, 2015. SPECIALIZATION OF THE COMPANY Development and production of gas turbine engines for military and civil aviation, industrial units for ground application (Gas-turbine power plants, Gas pumping units, Combined heat and power plants), modernization of helicopter equipment. CORPORATE STRATEGY OF THE COMPANY Corporate strategy of Motor Sich JSC is based on the large-scale diversification of production, strengthening and expansion of its positions in the market of aviation equipment and its support services, realized in the following basic strategic directions: n development and implementation of special programmes on manufacture of competitive products; n expansion of sales and services markets; n improvement of marketing activity; n creation of efficient high-technology production facilities as a result of their technical upgrading; n arrangement of efficient quality management system. MISSION OF THE COMPANY Motor Sich JSC works to be the best company in the sphere of aviation engine-building. Based on successful 100-year activity of the Company, utilizing our highest intellectual potential, using unique advanced technologies, in close cooperation with our business partners, we make Ukraine an aviation power. Basic Information About the Company 7 MOTOR SICH POSITIONING OF THE COMPANY IN INDUSTRY Motor Sich JSC is a specialized enterprise, which Motor Sich JSC is a part of aviation industry complex of basic products are gas turbine engines for civil and Ukraine. Traditionally, it is deeply integrated with military aircraft, created on their basis industrial enterprises of aviation industry of Russia. gas turbine drives for power and gas-pumping sta- tions, as well as gas turbine power stations and gas-pumping units with these drives. At the present time, Motor Sich JSC performs the Tens of thousands of engines produced by Motor following prospective works: Sich JSC are installed in aircraft of worldwide In the sphere of mass production — improvement of known firms: Antonov, Ilyushin, Beriev, Tupolev, wear characteristics of D-18T engines and their modifi- Yakovlev, Kamov, Mil, Czech “Aero Vodochody” cations, AI9-3B, TV3-117VMA-SBM1, D-36 engines and Chinese NAMC. They are operated in civil of all series, TV3-117V, D-436TP, D-436-148, AI-450- and military aircraft of more than 120 countries МS families. of the world. Many engines of the Company became world lead- There was started mass production of: ers in their class: AI-25TL turbojet engines are used n AI-222 engines for Yak-130, L-15 and other combat in more than three thousand training airplanes and trainers produced in Russia
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