DOCSLIB.ORG

Public Joint Stock Company “Research and Production Corporation “United Wagon Company”

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Public Joint Stock Company “Research and Production Corporation “United Wagon Company” Public Joint Stock Company “Research and Production Corporation “United Wagon Company” Interim condensed consolidated financial statements for the six months ended 30 June 2019 (unaudited) PUBLIC JOINT STOCK COMPANY “RESEARCH AND PRODUCTION CORPORATION “UNITED WAGON COMPANY” TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT’S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL OF THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2019 (UNAUDITED) 1 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2019 (UNAUDITED) Interim condensed consolidated statement of profit or loss and other comprehensive income 2 Interim condensed consolidated statement of financial position 3 Interim condensed consolidated statement of changes in equity 4 Interim condensed consolidated statement of cash flows 5 Notes to the interim condensed consolidated financial statements 6-30 PUBLIC JOINT STOCK COMPANY “RESEARCH AND PRODUCTION CORPORATION “UNITED WAGON COMPANY” STATEMENT OF MANAGEMENT’S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL OF THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2019 (UNAUDITED) Management is responsible for the preparation of the interim condensed consolidated financial statements that present fairly the consolidated financial position of Public Joint Stock Company “Research and Production Corporation” United Wagon Company” (PJSC RPC UWC or the “Company”) and its subsidiaries (the “Group”) as at June 30, 2019, and the consolidated results of the Group’s operations, cash flows and changes in equity for the year then ended, in accordance with International Accounting Standard (IAS) 34 Interim Financial Reporting. In preparing the interim condensed consolidated financial statements, management is responsible for: Properly selecting and applying accounting policies; Presenting information, including accounting policies, in a manner that provides relevant, reliable, comparable and understandable information; Providing additional disclosures when compliance with the specific requirements in IFRSs is insufficient to enable users to understand the impact of particular transactions, other events and conditions on the Group’s consolidated financial position and financial performance; Making an assessment of the Group’s ability to continue as a going concern. Management is also responsible for: Designing, implementing and maintaining an effective and sound system of internal controls, throughout the Group; Maintaining adequate accounting records that are sufficient to show and explain the Group’s transactions and disclose with reasonable accuracy at any time the consolidated financial position of the Group, and which enable them to ensure that the consolidated financial statements of the Group comply with IFRS; Maintaining statutory accounting records in compliance with local legislation and accounting standards in the respective jurisdiction in which the Group operates; Taking such steps as are reasonably available to them to safeguard the assets of the Group; Preventing and detecting fraud and other irregularities. The interim condensed consolidated financial statements for the six months ended 30 June 2019 were authorized on 29 August 2019: On behalf of the Management: ____________________________ Timofey Khryapov Chief Executive Officer PJSC RPC UWC 1 PUBLIC JOINT STOCK COMPANY “RESEARCH AND PRODUCTION CORPORATION “UNITED WAGON COMPANY” INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2019 (UNAUDITED) (in millions of Russian Rubles, unless otherwise indicated) Six months ended Notes 30 June 2019 30 June 2018 Revenue 6 29 816 32 151 Cost of sales 7 (23 153) (28 507) Gross profit 6 663 3 644 Selling, general and administrative expenses 8 (1 306) (1 484) Share of profit/(loss) of associates and joint ventures 32 (4) Other operating (expense)/income, net (31) 11 Impairment of non-current non-financial assets (247) - Operating profit 5 111 2 167 Finance income 9 3 772 976 Finance costs 10 (6 068) (6 192) Foreign exchange loss, net (78) (242) Profit/(loss) before income tax 2 737 (3 291) Income tax (expense)/benefit 11 (792) 238 TOTAL PROFIT/(LOSS) FOR THE PERIOD 1 945 (3 053) Earnings/(loss) per share Weighted average number of ordinary shares outstanding 115 996 689 115 996 689 Earnings/(loss) per share, RUB 17 (26) The notes on pages 6-30 form an integral part of these interim condensed consolidated financial statements. 2 PUBLIC JOINT STOCK COMPANY “RESEARCH AND PRODUCTION CORPORATION “UNITED WAGON COMPANY” INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2019 (UNAUDITED) (in millions of Russian Rubles) 30 June 31 December Note 2019 2018 ASSETS Non-current assets Property, plant and equipment 12 69 229 82 784 Right-of-use assets 13 22 384 - Intangible assets 5 916 6 109 Prepayments for non-current assets 363 510 Goodwill 8 778 8 778 Deferred tax assets 3 291 3 454 Investments in associates and joint ventures 1 186 1 154 Loans receivable 17 5 821 9 265 Long-term trade receivables from the sale of railcars 201 495 Restricted cash 108 146 Other non-current assets 554 1 374 Total non-current assets 117 831 114 069 Current assets Inventories 14 13 590 11 812 Trade and other receivables 15 2 223 8 490 VAT receivable 7 356 5 995 Prepayments to suppliers and other assets 16 4 348 4 969 Prepaid income tax 1 284 1 091 Loans receivable 17 100 92 Restricted cash 1 280 2 117 Cash and cash equivalents 18 10 221 10 871 Total current assets 40 402 45 437 TOTAL ASSETS 158 233 159 506 EQUITY AND LIABILITIES Equity and reserves Share capital issued 19 116 116 Additional paid-in capital 19 22 993 22 993 Reserve on revaluation of property, plant and equipment 12 936 12 936 Accumulated deficit (26 605) (28 550) Total equity and reserves 9 440 7 495 Non-current liabilities Long-term loans and borrowings 20 39 556 44 000 Bonds 21 14 793 14 793 Lease liabilities 25 18 513 - Financial liabilities under leaseback transactions 24 12 963 4 967 Deferred tax liabilities 1 934 1 818 Accrued expenses for employees remuneration 105 150 Advances received 69 78 Finance lease liabilities - 18 282 Total non-current liabilities 87 933 84 088 Current liabilities Short-term loans and borrowings 20 10 489 18 087 Bonds 21 15 691 15 640 Financial liabilities under leaseback transactions 24 2 517 1 532 Lease liabilities 25 3 806 - Trade and other payables 22 6 780 4 893 Advances received and other current liabilities 23 21 577 24 583 Finance lease liabilities - 3 188 Total current liabilities 60 860 67 923 TOTAL LIABILITIES 148 793 152 011 TOTAL EQUITY AND LIABILITIES 158 233 159 506 The notes on pages 6-30 form an integral part of these interim condensed consolidated financial statements. 3 PUBLIC JOINT STOCK COMPANY “RESEARCH AND PRODUCTION CORPORATION “UNITED WAGON COMPANY” INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE SIX MONTHS ENDED 30 JUNE 2019 (UNAUDITED) (in millions of Russian Rubles) Reserve on revaluation of Additional property, Share capital paid-in plant and Accumulated issued capital equipment deficit Total equity Balance at 1 January 2018 (as previously reported) 116 22 993 9 171 (18 579) 13 701 Effect of change in accounting policy due to IFRS 9 adoption - - - (200) (200) Balance at 1 January 2018 (as restated) 116 22 993 9 171 (18 779) 13 501 Loss for the period - - - (3 053) (3 053) Reclassification of gain on revaluation of property, plant and equipment disposed of during the reporting period - - (2) 2 - Balance at 30 June 2018 116 22 993 9 169 (21 830) 10 448 Balance at 1 January 2019 116 22 993 12 936 (28 550) 7 495 Profit for the period - - - 1 945 1 945 Balance at 30 June 2019 116 22 993 12 936 (26 605) 9 440 The notes on pages 6-30 form an integral part of these interim condensed consolidated financial statements. 4 PUBLIC JOINT STOCK COMPANY “RESEARCH AND PRODUCTION CORPORATION “UNITED WAGON COMPANY” CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 30 JUNE 2019 (UNAUDITED) (in millions of Russian Rubles) Six months ended 30 June 2019 30 June 2018 OPERATING ACTIVITIES PROFIT/(LOSS) FOR THE PERIOD 1 945 (3 053) Adjustments for: Income tax expense/(benefit) 792 (238) Depreciation and amortization 2 258 2 929 Finance costs 6 068 6 192 Finance income (3 772) (976) Non-operating foreign exchange loss, net 78 242 Share of (profit)/loss of joint ventures and associates (32) 4 Gain from the sale of railcars from the Group's own railcar fleet - (123) Write-down of inventories to net realizable price 23 46 Loss on disposal/impairment of property, plant and equipment and intangible assets 247 125 Other adjustments (62) 18 Operating profit before changes in working capital 7 545 5 166 Movements in working capital: Decrease/(increase) in trade and other receivables 1 351 (2 153) Decrease/(increase) in prepayments to suppliers and other current assets 650 (980) (Increase)/decrease in VAT receivable (580) 644 Increase in inventories (839) (3 016) Increase/(decrease) in trade and other payables 1 780 (102) (Decrease)/increase in advances received and other current liabilities (3 360) 7 066 Cash proceeds from operating activities 6 547 6 625 Cash proceeds from the sale of railcars from the Group's own railcar fleet 116 283 Cash utilized to increase the Group's own railcar fleet (8 272) - Income tax paid (700) (666) Finance costs paid (5 725) (5 430) Net cash (used in)/generated from operating activities (8
Load more

Recommended publications
  • Fox-IT in Rusland
    Fox-IT in Rusland Buro Jansen & Janssen juni 2021 Fox-IT in Rusland 1. Fox-IT in Rusland (samenvatting) 7 2. Fox-IT in Rusland (onderzoek) 10 3. Fox-IT in Russia (summary) 45 4. Het NFI en TNO werkten met Fox-IT aan een 48 Surveillance Lab in Saoedi-Arabië tijdens de Arabische Lente 5. Fox-IT en de Nederlandse overheid 58 6. Bronnen bij het onderzoek 81 7. Maak het werk van Buro Jansen & Janssen mogelijk, 90 word donateur 2 Buro Jansen & Janssen Inhoudsopgave Observant #77 / juni 2021 Fox-IT in Rusland Fox-IT in Rusland Het Delftse computer- en beveiligingsbedrijf Fox-IT verkoopt sinds 2010 haar producten in Rusland en is hier na de invoering van de internationale sancties tegen het land in 2014 mee doorgegaan. De Nederlandse overheid is een belangrijke klant van Fox-IT. Het bedrijf verzorgt onder andere de beveiliging van staatsgeheimen. De Rus Evgeny Gengrinovich speelt een sleutelrol in de handel van Fox-IT met Rusland. Hij werkte in het verleden voor verschillende Russische staatsbedrijven. Vanaf 2011 promoot hij de Fox DataDiode namens het Zwitserse Snitegroup GmbH en het Russische ZAO NPF Simet. Later presenteert hij zich als vertegenwoordiger van Fox-IT en heeft hij een sleutelrol bij het aantrekken van andere tussenhandelaren. De tussenhandelaren van Fox-IT hebben nauwe banden met Russische staatsbedrijven in de energiesector en de financiële sector, maar ook met het Russische Ministerie van Defensie, defensiebedrijven en de Russische inlichtingendienst FSB. Het Delftse bedrijf heeft in het algemeen weinig zicht op de eindgebruikers aan wie haar producten door tussenhandelaren worden aangeboden en doorverkocht.
    [Show full text]
  • Annual Report 2014
    Section ANNUAL REPORT 2014 There is always a place for discoveries in our life open.ru Content 2 Otkritie Financial Corporation 6 Statement of the Chairman of the Banking Group at a Glance Supervisory Board 4 Main Integration Results for 2014 8 President’s Statement MARKET REVIEW OPERATION REVIEW FINANCIAL OVERVIEW RISK MANAGEMENT CORPORATE GOVERNANCE APPENDIX AND CONTROL 12 Russian Economy in 2014 18 Corporate Banking 58 Assets 62 Overview 80 Effective Corporate Governance 104 Abbreviations Framework 15 Russian Banking Overview 24 Retail Banking 58 Liabilities 62 Key Risk Areas and Risk 106 Appendix 1. Management Tools 81 Share Capital Condensed Consolidated IFRS 32 Small Business Banking 59 Profitability Financial Statements 64 Credit Risk 82 Dividend Policy 37 Private Banking 59 Capital Adequacy 120 Contact Information 69 Liquidity Risk 83 General Shareholders’ Meeting 41 Investment Banking 70 Market Risks 85 Supervisory Board Structure 47 IT and Proceedings 72 Operational Risks 49 Corporate Social Responsibility 86 Supervisory Board Members 73 Financing Monitoring 53 Human Resources 89 Supervisory Board Resolutions 74 Legal and Reputational Risks in 2014 75 Strategic Risks 90 Supervisory Board Committees 76 Regulatory Risks 93 Management Board 77 2015 Priorities 94 Members of the Management Board 97 Statement of Otkritie FC Bank’s Supervisory Board Chairman on Compliance with the Corporate Governance Principles Established by the Corporate Governance Code 98 Corporate Governance Code Otkritie Financial Corporation Bank Annual Report Otkritie Financial Corporation Banking Group at a Glance Otkritie Financial Corporation Banking The Group implements a universal business model focusing on four key segments: Group is the largest private banking corporate banking, retail banking, small business and investment banking.
    [Show full text]
  • Otkritie Bank Russian Federation
    Otkritie Bank Russian Federation On record This profile is no longer actively maintained, with the information now possibly out of date Send feedback on this profile Created before Nov 2016 Last update: Oct 31 2016 Contact: Ryan Brightwell, BankTrackh​ [email protected] About Otkritie Bank Otkritie Bank is a full-service commercial bank that provides traditional banking services and investment, retirement and insurance products. It was formed in 2010 when four banks merged under the Otkritie brand. It is among the top 30 Russian banks according to its assets. Otkritie was the first Russian bank to adopt the Equator Principles in April 2013. The current form of the bank is a result of the merger of Otkritie and NOMOS-Bank in 2013. It was renamed to Otkritie Financial Corporation Bank in 2014. Otkritie FC Bank is 61.50% owned by Otkritie Financial Corporation. The consolidated organization ranks among the top 6 financial organizations in Russia, with estimated total assets of RUB 1.2 trillion. In April 2013 Otkritie became the first Russian bank to sign up to the Equator Principles, however they are no longer listed as an Equator Principles Financial Institution. Website http://www.openbank.ru Headquarters 2/4 Letnikovskaya St. 115114 Moscow Russian Federation CEO/chair Ruben Aganbegy CEO Supervisor Bank of Russia Annual report Annual Report 2013 Ownership listed on MICEX Otkritie Financial Corporation is the major shareholder of Otkritie bank with 61.50% of shares, the remaning shares are publicly traded on the Moscow Exchange (source) The following individuals and entities were shareholders in Otkritie at various times:Boris Mints (2004-2013), the Deposit Insurance Agency (2008 - 2013) VTB (2009 - 2013), the International Finance Corporation (IFC) (2011-2013) and Anatoly Chubais(2011-2013).
    [Show full text]
  • Company News SECURITIES MARKET NEWS
    SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody January 10, 2019 Issue No. 2019/01 Company News Central bank allows Dixy Group not to disclose corporate information On December 27, 2018 it was announced that the central bank had freed Russian released Dixy Group from an obligation to disclose corporate and financial information. In October, the company’s subsidiary Dixy Yug said that it finished a buyback of shares of Dixy Group, and controlled a 48.44% stake in the company as of October 5. Taking into account the stakes of affiliated firms, including a 51.29% stake owned by Dixy Holding Limited of businessman Igor Kesayev’s Mercury Holding, the company controls 100% of its shareholder equity. The Moscow Exchange stopped trading shares of Dixy Group on June 28, and the shareholders of Dixy Group approved a decision to make the company private on November 28. MegaFon offers RUB 659.26 per share buyback price to minorities On December 27, 2018 it was reported that Russian mobile operator MegaFon offered minority holders to sell their shares for RUB 659.26 apiece under a buyback. The offer is valid for 70 days, or starting from December 28 through March 7, 2019. It covers 131.213 mln common shares, accounting for 21.16% of MegaFon’s capital. The operator’s subsidiary, MegaFon Finance, cancelled on December 10 all general depositary receipts, ensuring rights for common shares of the operator, and filed a mandatory offer for a share purchase to the central bank for consideration. As a result of the cancellation, MegaFon Finance became an owner of 139,616,537 common shares of MegaFon, which with the shares held by its affiliated firms, amounted to 78.84% of the operator’s capital.
    [Show full text]
  • Custody Newsletter № 2017/36 46.72 Kb, 21 September
    SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody September 21, 2017 Issue No. 2017/36 Company News Otkritie FC Bank buys 61% in Rosgosstrakh Bank, 100% in Bank Trust On September 14, 2017 it was reported that Russia’s Otkritie Financial Corporation (FC) Bank acquired a 60.51% stake in Rosgosstrakh Bank and almost 100% in Bank Trust. The deals took place in late August. The central bank said in late August it would bail out troubled Otkritie FC Bank and become its investor using funds of the banking sector consolidation fund, the newly-created mechanism. The regulator’s representatives said earlier that a purchase of insurance company Rosgosstrakh and a bailout of Bank Trust were among reasons that worsened situation at Otkritie FC Bank. The central bank allocated RUB 127 bln of loans for the bailout of Bank Trust, but in late 2015, Otkritie FC Bank asked for another RUB 50 bln. Owners of Promsvyazbank, Vozrozhdenie Bank to mull merger by October 26, 2017 On September 15, 2017 it was reported that shareholders of Russian banks Promsvyazbank and Vozrozhdenie would consider their merger at extraordinary general meetings of the banks and submit their ballots by October 26. Vozrozhdenie Bank became part of Promsvyazcapital B.V., the parent holding of Promsvyazbank, in 2015, and the two banks have been carrying out integration processes since then, including a switch to a common operating and technical platform, centralization of back-office functions, unification of product line, and lining up of cross-sales. Shareholders of the two banks will discuss the reorganization in the form of incorporation of Vozrozhdenie Bank into Promsvyazbank.
    [Show full text]
  • SECURITIES MARKET NEWS LETTER Weekly
    SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody June 10, 2021 Issue No. 2021/21 Internal Custody News Please be advised that June 12 th 2021 is a public holiday in Russia - “Russia’s Day”. Please note that June 11 th is a short working day, and June 14 th is an official day off. Market News Cbank sells RUB 129.6 bln of coupon bonds out of RUB 300 bln offer On June 8, 2021 it was disclosed that on that day Russia’s central bank had sold RUB 129.643 bln of coupon bonds out of a limit of RUB 300 bln. Demand totaled RUB 129.661 bln. The cut-off price amounted to 100% of a face value, while the weighted average price stood at 100.0001%. The settlement date was June 9. Finance Ministry places RUB 81.85 bln OFZ bonds On June 9, 2021 it was stated that Russia’s Finance Ministry had placed RUB 81.85 bln of OFZ government bonds at two auctions on June 9. At the first auction, the ministry placed RUB 60.987 bln of OFZ 26235 government bonds with a fixed coupon maturing in March 2031. The cut-off price amounted to 90.5755% and the weighted average price stood at 90.6418%. The weighted average yield amounted to 7.38% and the cut-off yield to 7.39%. Demand totaled RUB 147.999 bln. At the second auction the ministry placed RUB 20.863 bln of OFZ 52003 government bonds maturing in July 2030. The cut-off price amounted to 98.1% and the weighted average price stood at 98.1659%.
    [Show full text]
  • Public Joint Stock Company “Research and Production Corporation “United Wagon Company”
    Public Joint Stock Company “Research and Production Corporation “United Wagon Company” Consolidated Financial Statements and Independent Auditor’s Report For the Year Ended December 31, 2018 PUBLIC JOINT STOCK COMPANY ”RESEARCH AND PRODUCTION CORPORATION “UNITED WAGON COMPANY” TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT’S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018 1 INDEPENDENT AUDITOR’S REPORT 2-6 CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018: Consolidated statement of profit or loss and other comprehensive income 7 Consolidated statement of financial position 8 Consolidated statement of changes in equity 9 Consolidated statement of cash flows 10 Notes to the consolidated financial statements 11-68 PUBLIC JOINT STOCK COMPANY “RESEARCH AND PRODUCTION CORPORATION “UNITED WAGON COMPANY” STATEMENT OF MANAGEMENT’S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018 Management is responsible for the preparation of the consolidated financial statements that present fairly the consolidated financial position of Public Joint Stock Company “Research and Production Corporation “United Wagon Company” (PJSC RPC UWC or the “Company”) and its subsidiaries (the “Group”) as at December 31, 2018, and the consolidated results of its operations, cash flows and changes in equity for the year then ended, in accordance with International Financial Reporting Standards (“IFRSs”).
    [Show full text]
  • The Financial Supply Chain Management: Conflicting Trends in Russian Banking
    862 Int. J Sup. Chain. Mgt Vol. 9, No. 1, February 2020 The Financial Supply Chain Management: Conflicting Trends in Russian Banking Vladimir V. Strelnikov Department of World Economy and International Economic Relations, Don State Technical University, Russia. [email protected] Abstract- Financial supply chain is all about the involved in ordering, invoicing, reconciliation and movement of money along the chain. The subject of the payment. At present, most of challenges, facing the study is the main trends in Russian banking development national economy of Russia, turn out to be the in the context of modern processes of digitalization, additional tasks of the banking sector, forming its main financialization, and disintermediation. The purpose of trends. The main functional goals of the banking the work is to determine the systemic contradiction in the system development for the coming years are the development trends of domestic banking system. The following: effective functioning under the conditions of author used the systematic approach and general foreign economic sanctions and credit support for the scientific methods, statistical and comparative analysis, necessary breakthrough socio-economic development, expert evaluations and generalizations, logical and while maintaining financial stability. And the functional analysis. The results and scientific novelty of effectiveness of all reforms outlined in our country the work are presented in the tendency of outstripping depends on how systematically the banks will deal with nationalization of banking activity, which poses a threat them. of an increase in the corresponding systemic The development of Russian banking is characterized by the specialists of the Bank of Russia as a return to contradiction in the emerging financial relations.
    [Show full text]
  • The Annual Report on the Most Valuable Russian Brands April 2017
    Russia 50 2017 The annual report on the most valuable Russian brands April 2017 Foreword. Contents steady downward spiral of poor communication, Foreword 2 wasted resources and a negative impact on the bottom line. Definitions 4 Methodology 6 Brand Finance bridges the gap between the marketing and financial worlds. Our teams have Understand Your Brand’s Value 7 experience across a wide range of disciplines from market research and visual identity to tax and Executive Summary 8 accounting. We understand the importance of design, advertising and marketing, but we also Full Table (RUBm) 12 believe that the ultimate and overriding purpose of Full Table (USDm) 13 brands is to make money. That is why we connect brands to the bottom line. How We Can Help 14 By valuing brands, we provide a mutually intelligible Contact Details 15 language for marketers and finance teams. David Haigh, CEO, Brand Finance Marketers then have the ability to communicate the significance of what they do and boards can use What is the purpose of a strong brand; to attract the information to chart a course that maximises customers, to build loyalty, to motivate staff? All profits. true, but for a commercial brand at least, the first Without knowing the precise, financial value of an answer must always be ‘to make money’. asset, how can you know if you are maximising your returns? If you are intending to license a brand, how Huge investments are made in the design, launch can you know you are getting a fair price? If you are and ongoing promotion of brands.
    [Show full text]
  • Market News Company News SECURITIES MARKET
    SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody December 07, 2017 Issue No. 2017/47 Market News MOEX’s new index calculation methodology effective from November 27 On December 1, 2017 it was stated that Moscow Exchange (MOEX) had updated its index calculation methodology, which came in force on November 27, and revised the list of index components and free float ratios, which are to be effective from December 22. The MOEX representative mentioned in the statement that key changes under the new methodology to the MOEX Russia Index (formerly known as the MICEX Index) and the RTS Index are a move to a floating number of component stocks as well as increased liquidity requirements for stocks. From December 22 the indices will comprise 45 (versus the current 50) component stocks. Under the new methodology to calculate indices, the Blue Chip Index may now include only one security type of an issuer. For further details, please see the stock exchange’s statement on its official Web Baker McKenzie sees Russian IPO activity rising in 2018-2019 As released on December 6, 2017 Global Chair of International law firm Baker McKenzie Paul Rawlinson had said in an interview that the company expects the volume of initial public offerings (IPOs) by Russian companies to increase to USD 2 bln from US 500 mln in 2018-2019. He mentioned that after 2018-2019 the world economy may become turbulent. The company also sees prospects in the segment of merger and acquisition deals. The Global Transactions Forecast, developed jointly by Baker McKenzie and Oxford Economics, says M&A activity in Russia will rise to USD32 bln in 2018-2019 from USD 25 bln.
    [Show full text]
  • Market News Company News SECURITIES MARKET NEWS
    SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody October 22, 2020 Issue No. 2020/41 Please be advised that November 4 th is a public holiday (“Unity Day”) and an official day off in the Russian Federation. Market News Putin urges business to get involved in production of vaccine On October 21, 2020 Russian President Vladimir Putin urged entrepreneurs to become more actively involved in production of the Russian vaccine against coronavirus in order to ensure the required amount of this drug. The president said that the third vaccine created in Russia will soon be registered. Putin has estimated annual sales of the Russian vaccine against coronavirus on the global market at USD 100 bln. Putin said that targeted measures to fight coronavirus were justified, they were being taken in contact with business. He added that the government was analyzing the situation. The president also said that the government did not plan to introduce tight restrictive measures amid the pandemic. Company News Rosseti can raise capital of affiliate Rosseti Kuban by RUB 2 bln On October 16, 2020 the board of directors of Russian power grid company Rosseti approved an increase of capital of affiliate Rosseti Kuban by no more than RUB 2.286 bln. The company can use the funds to finance repairs of energy supply units in the Sochi energy district. Rosseti plans to give the company in 2020–2023 the money that it received from affiliates in dividends for 2018–2019. After the capital increase, the stake of Rosseti in the affiliate will stand at least 93.44%.
    [Show full text]
  • Descargar Descargar
    1542 Vladimir V. Strelnikov Opción, Año 36, Especial No.26 (2020): 1542-1558 ISSN 1012-1587/ISSNe: 2477-9385 1543 Vladimir V. Strelnikov Opción, Año 36, Especial No.26 (2020): 1542-1558 ISSN 1012-1587/ISSNe: 2477-9385 Challenges of banking: modern Russian specificity Vladimir V. Strelnikov Lecturer, Department of World Economy and International Economic Relations, Don State Technical University, Russia [email protected] Abstract The aim of the study is to investigate the challenges of banking as certain Russian specifics, and in the aggregate, requiring system integration and balance in the conditions of active digitalization via the systematic approach and general scientific methods. As a result, new financial relationships, emerging in the context of the widespread development of digital technologies are under the increasing influence of previous state restrictions. This Russian specificity has a significant potential of turning into destructive system factor for banking. In conclusion, the formation of modern ecosystems and technological platforms in Russian formats is mainly carried out by large banks. Keywords: Banking system, Digitalization, Ecosystems, nationalization. Desafíos de la banca: especificidad rusa moderna Resumen El objetivo del estudio es investigar los desafíos de la banca como ciertos detalles rusos, y en conjunto, que requieren la integración y el equilibrio del sistema en las condiciones de digitalización activa a través del enfoque sistemático y los métodos científicos generales. Como resultado, las nuevas relaciones financieras, que surgen en el contexto del desarrollo generalizado de las tecnologías digitales, están bajo la influencia creciente de las restricciones estatales anteriores. Esta especificidad rusa tiene un potencial significativo de convertirse 1544 Vladimir V.
    [Show full text]