Analyst manual

Authorized capital of Lenenergo, RUB*

200620072008200920102011201220132014
Ordinary shares 691 854 144 691 854 144 926 021 679,04 926 021 679,04 926 021 679,04 926 021 679,04 1 135 061 313,08 1 135 061 313,08 1 658 814 839,05
Preferred shares 93 264 311 93 264 311 93 264 311,00 93 264 311,00 93 264 311,00 93 264 311,00 93 264 311,00 93 264 311,00 93 264 311,00
Total  785 118 455   785 118 455  1 019 285 990,04 1 019 285 990,04 1 019 285 990,04 1 019 285 990,04 1 228 325 624,08 1 228 325 624,08 1 752 079 150,05

Par value of each ordinary and preferred share is 1 RUB

* The information is provided as of December 31 of each year

Share capital structure, % of placed ordinary shares as of the end date of the register closing (19.05.2014)*

* The structure is given with the results of placement of additional shares during public offering (State registration number 1-01-00073-A-003D, registered on September 10th, 2013)

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Shares of JSC Lenenergo

Quotation Lists
MICEX Stock Exchange II Level
Tickers
Ordinary shares LSNG
Preferred shares LSNGP

Quotations of JSC Lenenergo ordinary shares on the MICEX Stock Exchange, RUB*

2006 2007 2008 2009 2010 2011 20122013 2014
Q1
Min 19,80 36,10 39,70 7,05 24,94 23,12 10,04 5,852,21
Max 23,50 51,36 50,20 14,97 34,53 27,15 11,21 6,102,28
Closing 20,00 45,50 41,80 9,25 33,74 24,23 10,42 5,952,24
Q2
Min 15,00 34,50 37,00 9,05 22,62 16,91 6,574,58 2,7
Max 18,00 47,50 45,00 20,79 35,21 24,19 10,824,58 2,9
Closing 15,00 44,20 45,00 16,60 22,62 16,91 6,614,582,9
Q3
Min 14,50 36,25 35,00 16,91 21,53 12,715,473,19 2,38
Max 20,50 45,00 47,00 25,01 23,79 13,007,333,33 2,58
Closing 20,50 36,25 35,00 25,01 23,57 13,006,993,24 2,43
Q4
Min 21,00 30,00 12,01 23,15 23,61 9,846,502,321,75
Max 54,00 49,49 39,00 29,06 27,11 14,386,622,50 1,88
Closing 46,00 45,75 13,13 23,28 25,95 9,846,552,321,75

Quotations of JSC Lenenergo preferred shares on the MICEX Stock Exchange, RUB*

2006 2007 2008 2009 2010 201120122013 2014
Q1
Min - 28,00 33,25 7,00 22,20 35,94 22,3612,71 13,55
Max - 36,75 41,00 12,66 28,64 46,82 26,3213,40 13,95
Closing - 34,50 36,00 12,50 28,64 45,95 23,4113,03 13,95
Q2
Min - 30,01 27,50 8,80 25,32 36,22 16,4811,80 14,93
Max - 35,00 35,50 19,30 35,43 46,16 23,9912,00 15,00
Closing - 33,99 32,60 18,11 25,896 36,79 17,0212,00 15,00
Q3
Min 12,00 27,00 25,00 16,41 24,54 21,4415,2711,78 14,30
Max 18,75 34,90 34,80 27,63 31,39 37,2619,5012,00 14,62
Closing 15,60 27,00 30,00 22,87 31,393 21,4418,3011,78 14,62
Q4
Min 14,42 25,50 8,20 21,64 31,31 20,5017,5011,18 10,70
Max 35,90 47,00 30,00 24,32 36,63 28,8217,6611,40 12,25
Closing 30,95 42,00 8,51 22,78 35,82 21,7417,6011,37 11,20

Market Capitalization of JSC Lenenergo on the MICEX Stock Exchange, RUB mln*

2006 2007 2008 2009 2010 2011 2012 20132014
Total 34 933 35 190 12 434 25 571 27 372 11 139 7 759 3 741 3 040

* information is provided on the last day of each reporting period

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« Shares P&L »

Consolidated Statement of Financial Position (IFRS), RUB thousand

2006 2007 2008 2009 2010 201120122013
ASSETS
Non-current assets
Intangible assets 182 065 570 154 696 275 601 184 714 589799 687 765 277
Property, plant and equipment 14 520 859 23 252 435 66 235 792 73 332 231 83 621 575 82 518 71786 414 872 100 549 051
Advances for construction of property, plant and equipment 2 259 333 3 915 529 5 025 306 4 135 536 2 317 079 854 343508 158 330 483
Available-for-sale investments 384 494 713 200 304 533 525 913 30 000 26 700100 100
Deferred tax assets
Other non-current assets 387 838 576 151 887 426 272 310 440 430 843 179434 067 455 316
Total non-current assets 17 552 524 28 639 380 73 023 211 78 962 265 87 010 268 84 957 52888 156 884 102 100 227
Current assets
Cash and cash equivalents 1 082 229 5 903 078 2 498 850 2 948 801 653 068 7 108 5383 513 622 3 719 455
Short-term investments           2 266 000 6 364 263
Accounts receivable 1 045 745 1 017 493 1 209 336 1 332 425 1 493 998 991 0442 077 119 5 189 652
Inventories 225 552 217 923 235 484 361 166 452 779 289 605279 184 419 223
Income tax prepayments          100 458 3 711
Other current assets 1 036 258 2 823 840 6 387 647 4 720 628 3 772 231 3 503 8483 099 798 3 048 067
Total current assets 3 389 784 9 962 334 10 331 317 9 363 020 6 372 076 11 993 49311 235 72318 744 371

TOTAL ASSETS 20 942 308 38 601 714 83 354 528 88 325 285 93 382 344 96 951 02199 392 607 120 844 598
EQUITY AND LIABILITIES
Equity attributable to equity holders of the parent
Ordinary shares 4 631 947 4 631 947 4 866 115 4 866 115 4 866 115 4 866 1155 075 155 5 075 155
Preferred shares 625 603 625 603 625 603 625 603 625 603 625 603625 603 625 603
Share premium 0 0 5 548 880 5 548 880 5 548 880 5 548 8808 303 849 8 303 849
Shares paid towards ongoing placement -- 3 000 000
Other reserves 1 885 820 5 187 035 28 857 780 29 003 426 28 659 394 22 347 82220 167 762 20 096 491
Retained earnings 3 369 278 1 560 702 3 302 755 5 769 857 10 237 4499 084 0949 285 988 12 327 214
Non-controlling interest 0 0 39 430 19 812 23 542 30 77728 994 36 666
Total equity 10 512 648 12 005 287 43 240 563 45 833 693 49 960 983 42 503 29143 487 351 49 464 978
Non-current liabilities
Long-term borrowings, net of current portion 50 784 11 555 864 12 946 293 10 073 664 14 124 851 21 028 08120 637 699 29 401 987
Deferred tax liabilities 125 497 70 488 5 863 986 5 283 093 5 331 912 3 050 7342 356 515 2 477 749
Post-employment benefits liabilities 244 564 277 413 308 313 294 536 351 312 449 850557 367 697 402
Other non-current liabilities 2 165 056 3 699 967 5 377 237 1 274 873 2 115 966 4 884 3061 786 304 2 123 163
Total non-current liabilities 2 585 901 15 603 732 24 495 829 16 926 166 21 924 04129 412 97125 337 885 34 700 301
Current liabilities
Current portion of long-term borrowings 4 523 310 277 007 436 143 6 610 816 1 566 041 6 549 3057 153 301 3 981 776
Trade and other payables 1 418 657 3 034 888 4 598 901 3 978 577 4 216 8386 752 9898 287 500 15 322 000
Provisions         37 196463 260535 678 2 727 018
Income tax payable 231 539 598 928 1 118 258 553 549 102 134 8 889433 615 515 605
Other taxes payable 192 206 102 600          
Advances received from customers (before 2008 - Other current liabilities) 1 478 047 6 979 272 9 464 834 14 422 484 15 575 111 11 260 31614 157 277 14 132 920
Total current liabilities 7 843 759 10 992 695 15 618 136 25 565 426 21 497 320 25 034 75930 567 371 7 153 301

Total liabilities 10 429 660 26 596 427 40 113 965 42 491 592 43 421 36154 447 73055 905 256 71 379 620

TOTAL EQUITY AND LIABILITIES 20 942 308 38 601 714 83 354 528 88 325 285 93 382 344 96 951 02199 392 607 120 844 598

* Data are given taking into account retrospective adjustments to the data

Consolidated Income Statement (IFRS), RUB thousand

2006 2007 2008 2009 2010201120122013
Revenues 8 354 099 8 354 099 17 913 636 22 800 390 28 573 575 32 256 79533 134 547 37 323 292
Operating expenses (9 214 815) (10 036 092) (14 607 578) (18 489 176) (21 440 791) (31 503 143)(30 652 922) (31 007 625)
Operating profit (860 716) 2 301 788 3 306 058 4 311 214 7 132 784 753 6522 475 317 6 315 667
Finance income 1 594 450 113 621 2 291 642 77 860 774 127 61 484302 468 667 441
Finance cost (819 691) (598 463) (1 372 074) (2 084 428) (1 579 556) (1 659 844)(2 175 395) (2 681 842)
Foreign exchange loss (9 182) (967 043) (172 760) (70 141)-- -
Permanent decline in fair value of available-for-sale investments (210 956) - -- -
(Loss)/profit before tax (85 957) 1 807 764 3 047 627 2 131 886 6 257 214 (844 708)608 6984 301 266
Income tax expense (105 342) (522 545) (1 209 643) 455 486 (1 506 793) (98 568)(370 785) (1 020 456)
Net (loss)/profit for the year (191 299) 1 285 219 1 837 984 2 587 372 4 750 421 (943 276)237 913 3 280 810
Attributed to:
Equity holders 1 285 219 1 833 660 2 578 481 4 746 691 (950 511)239 696 3 273 138
Non-controlling interest 4 324 8 891 3 730 7 235(1 783) 7672
(Loss)/earnings per ordinary share - basic and diluted (Russian Rubles) -0,24 1,58 2,11 2,53 4,66 -0,930,09 2,42
(Loss)/earnings per preferred share - basic and diluted (Russian Rubles) -0,24 1,58 2,11 2,53 4,66 -0,931,52 2,42

* Data are given taking into account retrospective adjustments to the data

« P&L Assets »

Consolidated Statement of Cash Flows (IFRS), RUB thousand

2006 2007 2008 2009 201020112012 2013
Cash flows from operating activities
Profit before tax (85 957) 1 807 764 3 047 627 2 131 886 6 257 214 (844 708)608 698 4 301 266
Adjustments to reconcile (loss)/profit before tax and net cash flow from operating activities:
Loss on disposal of property, plant and equipment 2 158 914 12 024 95 902 53 306 204 429 360 781259 103 498 680
Loss on revaluation of property, plant and equipment 797 908
Finance income (1 594 450) (109 298) (2 291 642) (77 860) (774 127) (61 484)(302 468) (667 441)
Depreciation of property, plant and equipment 657 950 1 104 824 1 702 052 3 918 077 4 430 867 4 812 6634 216 0553 919 750
Amortization of intangible assets 22 880 77 880 128 249 117 487 114 74787 344 122 814
Impairment loss on property, plant and equipment 312 833 4 255 7983 600 893-
Impairment of intangible asset 139 000 37 360 148 440(129 110) 31 529
Loss on termination of lease contracts 17 860 -
Finance cost 819 691 603 322 1 372 074 2 084 428 1 579 556 1 659 8442 175 395 2 681 842
Permanent decline in fair value of available-for-sale investments 210 956 -
Net movement in the provision for impairment of receivables (322 854) 312 524 172 609 226 052 260 548 505 329213 796 256 783
Impairment loss on finance leases 0 0 0 490 894 94 242 122 55861 364 -
Non-cash settlement of technological connection revenue (64 893) (710 450) (498 339) (2 293 975) (4 525 382) (3 661 767)(747 423) (613 229)
Foreign exchange loss 967 043 172 760 70 141 -
Provision for/(release of) impairment of inventories 62 711 54 427 42 431 3 512 (50 877) 15 39328 918 (3 344)
Net expense for the defined benefit plan 52 333 56 500 15 317 90 418 98 935109 725 189 369
Change in provisions 126 502 122 701 (1 595) 178 197
Net movements in other provisions (27 032)86 560601 5392 825 112
Operating cash flows before changes in working capital 1 757 614 3 273 051 5 751 406 7 482 676 7 684 117 7 613 08910 801 68913 543 131
Increase / (decrease) in trade and other payables 975 430 (3 525 209) (378 324) (2 308 916) (2 253 422) 4 074 509(495 017) 4 515 766
(Decrease) / increase in other current liabilities 2 445 544 5 412 848 4 957 786 1 152 627 (4 314 711)2 896 961 (24 357)
Increase / (decrease) in other non-current liabilities 1 534 911 1 361 480 -3 517 671 660 468 2 759 575(3 107 275) 326 398
Decrease / (increase) in trade and other receivables 76 644 (115 295) (406 135) 67 965 (137 332) 346 281(1 286 205) (3 765 060)
Decrease / (increase) in inventories (67 018) (46 798) (30 321) (129 193) (40 736) 147 781(18 497) (136 695)
(Increase) / decrease in taxes payable other than income tax (26 292) 18 106 (45 278) (232 348)
Increase / (decrease) in other current assets 2 688 (1 787 582) (1 335 154) 561 835 (275 750) (271 721)907 126 26 615
Increase in pension benefits liabilities 15 309
Cash generated from operations 2 734 375 1 796 728 10 330 522 6 882 134 6 811 928 10 354 8039 698 782 14 485 798
Interest paid (489 356) (430 168) (852 280) (992 572) (1 268 358) (1 388 378)(2 066 840) (2 606 503)
Income tax paid (839 363) (334 025) (502 175) (512 102) (1 734 459) (982 139)(120 791) (822 293)
Pension benefits paid (19 484) (25 600) (29 094) (33 642) (40 206)(36 614) (42 584)
Interest received 61 484302 468 587 287
Net cash generated from operating activities 1 405 656 1 013 051 8 950 467 5 348 366 3 775 469 8 005 5647 777 005 11 601 705
Cash flow from investment activities
Proceeds from sale of available-for-sale investments 3 947 444 657 087 -
Purchases of property, plant and equipment (2 942 374) (3 568 567) (9 336 268) (6 335 270) (5 825 998) (11 789 046)(11 274 948) (15 541 128)
Purchases of intangible assets (159 460) (159 866) (99 018) (119 613)(76 332) (58 098)
Decrease / (increase) in advances for construction of property, plant and equipment (1 582 896) (1 585 520) (1 136 239)
Proceeds from disposal of property, plant and equipment 29 323 19 693 34 866 3 289 43 1 4802 039 2 161
Cash placed on short-term deposits (2 266 000) (4 018 109)
Acquisition of subsidiaries, net of cash acquired (794 071)
Deposits placed (40 000)
Dividends received 16 960 45 188 23 992 14 625 25 085 -
Interest received 6 154 61 629 354 902 35 117 72 977
Net cash used in investment activities (525 389) (5 187 037) (11 052 684) (6 282 239) (5 169 824) (11 907 179)(13 615 241) (19 615 174)
Cash flow from financing activities
Repayment of short-term borrowings (2 954 622) (1 500 000) (22 000) (1 000 000)(6 000 000)(12 181 204)
Repayment of long-term borrowings (2 999 801) (7 900 000) (1 280 000)-
Issue and transaction costs on bonds and loans (55 240) (8 278)
Proceeds from share issue 2 043 618 3 000 000
Advance contributions for shares issued (repaid)/received 3 055 681 (10 033)
Repayment of long-term borrowings before maturity (1 225 000)(4 393 000) (407 000)
Long-term borrowings received 2 917 029 10 789 716 3 000 000 8 561 000 15 743 40011 237 586 18 163 095
Acquisition of non-controlling interest (17 385)
Dividends paid (298 668) (42 397) (91 607) (153 961) (325 804) (380 861)(141 742) (308 583)
Repayment of finance lease liabilities (6 892) (308 364) (1 178 371) (1 444 830) (1 236 574) (1 500 454)(447 902) (38 728)
Total cash provided by / (used in) financing activities (343 153) 8 994 835 (1 302 011) 1 383 824 (901 378) 10 357 0852 243 320 8 219 302
Net increase / (decrease) in cash and cash equivalents 537 114 4 820 849 (3 404 228) 449 951 (2 295 733) 6 455 470(3 594 916) 205 833
Cash and cash equivalents at the beginning of the year 545 115 1 082 229 5 903 078 2 498 850 2 948 801 653 0687 108 538 3 513 622
Cash and cash equivalents at the end of the year 1 082 229 5 903 078 2 498 850 2 948 801 653 068 7 108 5383 513 622 3 719 455

* Data are given taking into account retrospective adjustments to the data

Key Characteristics of JSC Lenenergo Assets

Indicator Unit 2006 2007 2008 2009 2010 201120122013
Installed capacity (MVA) MVA 18 013 18 673 19 359 19 901 20 741 21 427 21 952 23 059
0.4-110 kV Overhead transmission lines (OTL), on lines (km) km 35 622 35 810 35 967 36 148 36 274 36 587 36 859 37 214
0.4-110 kV Overhead transmission lines (OTL), on circuits (km) km 38 537 38 841 39 085 39 286 39 419 39 783 40 053 40 408
0.4-110 kV Cable lines (km) km 16 026 16 338 16 731 17 651 18 622 19 554 20 400 21 259
35-110 kV Substations (pcs) pcs 362 367 368 370 372 373 377 379
35-110 kV Substations (MVA) MVA 11 550 12 187 12 818 13 084 13 466 13 742 13 969 14 570
6-35 kV Transformer substations (pcs) pcs 13 351 13 452 13 646 13 309 14 361 14 770 15 025 15 531
6-35 kV Transformer substations (MVA) MVA 6 463 6 486 6 541 6 818 7 275 7 686 7 983 8 490

Electric Networks Equipment

Indicator Unit 2006 2007 2008 2009 2010 2011 2012 2013
Substations c.u. 77 774 78 391 79 594 82 275 83 640 85 963 87 352 89 990
Transformer substations c.u. 135 420 137 198 139 966 150 803 156 362 168 927 175 634 185 679
OTL 0.4-10 kV (on lines) c.u. 38 553 38 297 38 538 38 781 39 063 39 585 39 986 40 766
OTL 35-110 kV OTL (on lines) ) c.u. 10 828 10 834 10 850 10 882 10 886 11 077 11 085 11 096
CL 0.4-110 kV c.u. 54 753 56 699 57 384 60 859 64 121 67 291 70 334 73 835
TOTAL c.u. * 317 327 321 419 326 332 343 600 354 073 372 843 384 392 401 366

* Note: w/o DGS and CTMT

Voltage Classes of Electric Networks

Indicator Unit 2006 2007 2008 2009 2010 2011 20122013
110 kV c.u. 41 018 41 740 43 359 44 712 45 106 45 925 45 983 48 137
35 kV c.u. 25 535 25 551 25 608 25 467 25 466 25 596 26 034 25 874
1-20 kV c.u. 216 824 220 156 223 260 239 278 248 692 265 321 276 057 290 237
below 1 kV c.u. 33 950 33 973 34 105 34 144 34 808 36 001 36 318 37 118
ИТОГО c.u. * 317 327 321 419 326 332 343 600 354 073 372 843 384 392 401 366

* Note: excluding DGS and CTMT

DGS - diesel generator sets

CTMT - control and technology management tools

Electricity Transmission

Supply to network, mln kWh 2006 2007 2008 2009 2010 2011 2012 2013
JSC Lenenergo, including 29 543 30 631 32 354 31 703 33 496 33 460 34 514 33 945
St. Petersburg 19 203 19 882 20 312 20 222 21 244 21 297 21 811 21 730
Leningrad Region 10 340 10 749 12 042 11 481 12 252 12 163 12 703 12 215
Productive supply, mln kWh 2006 2007 2008 2009 2010 2011 20122013
JSC Lenenergo, including 25 384 26 549 28 439 27 672 29 095 28 975 30 007 29 613
St. Petersburg 16 507 17 414 17 991 17 780 18 626 18 539 19 104 19 083
Leningrad Region 8 876 9 135 10 448 9 893 10 469 10 436 10 903 10 530
Total losses, mln kWh 2006 2007 2008 2009 2010 2011 2012 2013
JSC Lenenergo, including 4 159,4 4 082 3 915 4 031 4 401 4 485 4 507 4 332
St. Petersburg 2 696,1 2 468 2 321 2 443 2 618 2 758 2 707 2 647
Leningrad Region 1 463,3 1 613 1 594 1 588 1 783 1 727 1 800 1 685
Total losses, % 2006 2007 2008 2009 2010 2011 2012 2013
JSC Lenenergo, including 14,08 13,33 12,10 12,71 13,14 13,40 13,06 12,76
St. Petersburg 14,04 12,41 11,42 12,08 12,32 12,95 12,41 12,18
Leningrad Region 14,15 15,01 13,24 13,83 14,55 14,20 14,17 13,79
Losses in JSC Lenenergo grids, mln kWh 2006* 2007 2008 2009 2010 2011 2012 2013
JSC Lenenergo, including 3 706 3 226 3 274 3 587 3 546 3 579 3 431
St. Petersburg 2 468 2 099 2 186 2 313 2 335 2 334 2 270
Leningrad Region 1 238 1 127 1 088 1 273 1 211 1 245 1 161
Losses in JSC Lenenergo grids, % 2006* 2007 2008 2009 2010 2011 2012 2013
JSC Lenenergo, including 12,10 9,97 10,33 10,71 10,60 10,37 10,11
St. Petersburg 12,41 10,33 10,81 10,89 10,97 10,7 10,45
Leningrad Region 11,51 9,36 9,48 10,39 9,96 9,89,51

* indicators were not calculated

Implementation of the Investment Program in St. Petersburg

Indicator St. Petersburg
2006 2007 2008 2009 201020112012 2013
Disbursement, RUB mln w/o VAT 2 181 7 343 8 401 7 654 12 574 10 82911 515 13 158
Commissioning of fixed assets, RUB mln 1 105 3 313 5 787 7 206 11 328 11 24612 424 14 355
Financing, RUB mln, VAT included 3 384 9 334 10 269 8 670 12 704 11 44612 337 13 940
Commissioning of capacities, MVA 21 377 612 495 704 6231409 603
Commissioning of capacities, km 31 83 101 316 995 935716 764

Implementation of the Investment Program in the Leningrad Region

Indicator Leningrad Region
2006 2007 2008 2009 201020112012 2013
Disbursement, RUB mln w/o VAT 679 1 437 3 008 2 681 3 239 4 2323 376 5 570
Commissioning of fixed assets, RUB mln 459 1 150 1 271 2 856 2 421 5 0773 651 4 299
Financing, RUB mln, VAT included 715 1 608 3 166 3 650 3 7244 1013 663 5 405
Commissioning of capacities, MVA 84 126 93 337 228 372502 304
Commissioning of capacities, km 192 163 256 353 512 778864 1082

Implementation of the Investment Program of JSC Lenenergo

Indicator JSC Lenenergo
2006 2007 2008 2009 201020112012 2013
Disbursement, RUB mln w/o VAT 2 860 8 780 11 409 10 334 15 813 15 06114 891 18 729
Commissioning of fixed assets, RUB mln 1 565 4 463 7 058 10 062 13 750 16 23216 075 18 653
Financing, RUB mln, VAT included 4 099 10 942 13 435 12 320 16 428 15 54716 000 19 345
Commissioning of capacities, MVA 105 502 705 832 932 9961 911 907
Commissioning of capacities, km 222 246 357 669 1 508 1 7131 581 1 846

Key Parameters of the Long-Term Investment Program Approved by Order # 562 of the Ministry of Power Industry of Russia

JSC Lenenergo, TOTAL
2014 2015 2016 2017 2018 2019 ИТОГО
2014-2019
Capital investments, RUB mln (w/o VAT) 25 864 29 987 28 376 24 525 24 242 24 286 157 280
Commissioning of fixed assets, RUB mln 28 903 30 107 30 430 26 060 25 679 25 623 166 802
Financing, RUB mln (VAT included) 32 173 34 234 33 790 29 578 29 628 29 370 188 773
Input of capacity (MVA) 1 992 2 508 2 781 2 758 1 729 1 757 13 526
Input of capacity (km) 2 604 2 591 3 133 1 949 2 320 2 943 15 540
Financing by directions, RUB mln (VAT included) 32 173 34 233 33 789 29 579 29 628 29 372 188 774
Technical re-equipment and reconstruction 5 734 8 138 8 115 10 996 7 412 943 41 338
New construction 2 224 5 625 3 275 1 816 5 477 2 022 20 439
Programs of special importance* 2 369 660 696 3 725
Technological connection 16 510 15 132 12 771 7 911 5 688 4 042 62 054
Other 5 337 4 678 8 932 8 856 11 051 22 365 61 219

BY REGIONS

St. Petersburg
2014 2015 2016 2017 2018 2019 ИТОГО
2014-2019
Capital investments, RUB mln (w/o VAT) 18 207 21 987 19 876 16 525 18 241 18 241 113 077
Commissioning of fixed assets, RUB mln 20 323 22 173 21 567 17 157 19 075 19 575 119 871
Financing, RUB mln, VAT included 23 088 24 644 23 786 19 816 22 541 22 198 136 073
Input of capacity (MVA) 1 235 1 912 2 018 1 822 1 148 1 341 9 477
Input of capacity (km) 808 793 1 130 690 1 002 1 298 5 720

Leningrad Region
2014 2015 2016 2017 2018 2019 ИТОГО
2014-2019
Capital investments, RUB mln (w/o VAT) 7 657 8 000 8 500 8 000 6 001 6 045 44 203
Commissioning of fixed assets, RUB mln 8 580 7 934 8 863 8 902 6 604 6 048 46 931
Financing, RUB mln, VAT included 9 085 9 590 10 004 9 762 7 087 7 172 52 699
Input of capacity (MVA) 757 595 763 936 581 416 4 049
Input of capacity (km) 1 796 1 798 2 002 1 260 1 319 1 645 9 819

Financing Sources of the Investment Program
2014 2015 2016 2017 2018 2019 ИТОГО
2014-2019
Own sources 8 137 8 350 7 100 7 791 8 450 16 040 55 869
Amortisation 5 809 6 463 7 100 7 791 8 450 9 110 44 723
Net profit 0 0 0 0 0 6 929 6 929
Other own sources 2 328 1 888 0 0 0 0 4 216
Additional issue of shares 930 0 0 0 0 0 930
Property settlements 1 355 1 888 0 0 0 0 3 242
Lost income 0 0 0 0 0 0 0
Other 44 0 0 0 0 0 44
VAT 2 093 2 617 2 409 1 943 1 980 3 554 14 596
Raised funds 21 943 23 267 24 280 19 844 19 198 9 776 118 308
Borrowings (loans and credits) 17 481 17 079 17 998 16 841 16 645 6 070 92 114
Advance payments on technological connection 4 462 5 624 5 692 3 003 2 553 3 707 25 041
Budgetary financing 0 564 590 0 0 0 1 154
TOTAL financing, RUB mln (VAT included) 32 173 34 234 33 790 29 578 29 628 29 370 188 773

Key RAB parameters, RUB mln

RGR structure for 2012-2019 taking into account the tariff and balance decisions for 2014 and Decree of the Government # 542

Indicator Unit St. Petersburg Leningrad Region JSC Lenenergo
2012 2013 2014 2015 2016 2017 2018 2019 2012 2013 2014 2015 2016 2017 2018 2019 2012 2013 2014 2015 2016 2017 2018 2019
Operating costs RUB mln 2 883 3 054 3 374 3 581 3 753 3 921 4 098 4 282 2 541 2 657 2 773 2 959 3 054 3 169 3 288 3 412 5 424 5 711 6 147 6 541 6 807 7 091 7 386 7 694
Uncontrollable costs RUB mln 12 956 16 020 17 395 16 897 18 465 20 364 22 549 25 199 9 810 8 839 11 149 10 790 10 740 11 633 12 659 13 752 22 767 24 859 28 544 27 686 29 206 31 997 35 208 38 952
JSC FGC UES fee RUB mln 4 530 5 017 4 866 5 589 6 077 6 549 7 065 7 623 2 236 2 382 2 478 2 606 2 816 3 029 3 259 3 507 6 766 7 399 7 344 8 195 8 892 9 578 10 324 11 130
services of TGO RUB mln 3 396 5 177 5 340 5 528 5 838 6 188 6 563 6 964 4 763 3 886 5 628 4 428 4 701 4 992 5 311 5 654 8 159 9 063 10 969 9 956 10 539 11 180 11 874 12 618
losses in JSC Lenenergo networks RUB mln 3 851 3 562 3 871 4 223 4 527 4 888 5 256 5 901 2 296 1 966 2 773 2 150 2 287 2 438 2 591 2 852 6 147 5 527 6 644 6 373 6 813 7 327 7 847 8 753
lost income RUB mln   1 403 2 284 0 0 0 0 0   177 -235 823 0 0 0 0 0 1 579 2 049 823 0 0 0 0
other uncontrollable costs RUB mln 1 180 861 1 034 1 557 2 024 2 739 3 665 4 711 515 429 504 783 937 1 173 1 498 1 740 1 694 1 290 1 538 2 340 2 961 3 912 5 163 6 451
Recovery RUB mln 3 090 3 339 3 588 4 019 4 468 4 941 5 348 5 826 2 067 2 128 2 174 2 444 2 632 2 850 3 101 3 285 5 156 5 468 5 762 6 463 7 100 7 791 8 450 9 110
Return on capital RUB mln 1 494 2 290 3 171 4 727 6 306 7 930 9 250 13 348 589 750 894 1 894 2 552 3 302 3 894 5 016 2 083 3 040 4 065 6 621 8 858 11 233 13 144 18 365
Smoothing RUB mln -1 369 -1 852 -1 102 504 1 309 2 453 4 458 3 856 -2 055 -245 -919 117 1 622 2 418 3 449 3 470 -3 424 -2 096 -2 022 621 2 931 4 871 7 907 7 326
Total required gross revenue RUB mln 19 054 22 852 26 425 29 728 34 301 39 610 45 702 52 511 12 953 14 130 16 070 18 204 20 600 23 372 26 393 28 936 32 007 36 982 42 495 47 932 54 902 62 982 72 094 81 447
Productive supply of electric power mln kWh 19 227 19 463 18 676 19 123 19 768 20 406 21 033 21 768 11 059 12 384 12 233 12 589 13 071 13 574 14 026 14 203 30 285 31 848 30 909 31 713 32 839 33 980 35 059 35 970
Average flat rate kop/kWh 99,1 117,4 141,5 155,5 173,5 194,1 217,3 241,2 117,1 114,1 131,4 144,6 157,6 172,2 188,2 203,7 105,7 116,1 137,5 151,1 167,2 185,4 205,6 226,4
Growth to the previous year % 0% 18% 21% 10% 12% 12% 12% 11% 3% -3% 15% 10% 9% 9% 9% 8% 3% 10% 18% 10% 11% 11% 11% 10%
* with regard to generator voltage consumers
For reference:
Size of invested capital as of the beginning of the year (full cost) RUB mln 107 891 116 848 125 479 140 552 156 279 172 837 187 085 203 796 72 337 74 495 77 402 85 498 92 090 99 700 108 509 114 924 180 228 191 343 202 881 226 050 248 369 272 537 295 593 318 720
Size of invested capital as of the end of the year (residual cost) RUB mln 53 489 59 379 64 668 76 153 87 861 99 951 109 258 120 621 24 696 24 787 25 565 31 470 35 619 40 597 46 555 49 869 78 185 84 166 90 233 107 624 123 480 140 548 155 813 170 490
Rate of return on "old" invested capital % 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 1% 11% 1% 1% 1% 1% 1% 1% 1% 11%
Rate of return on "new" invested capital % 12% 11% 11% 11% 11% 11% 11% 11% 12% 11% 11% 11% 11% 0 0 0 12% 11% 11% 11% 11% 11% 11% 11%
Reliability level 0,019947 0,019648 0,019353 0,019063 0,018777 0,018495 0,018218 0,017945 0,019947 0,019648 0,019353 0,019063 0,018777 0,018495 0,018218 0,017945 0,019947 0,019648 0,019353 0,019063 0,018777 0,018495 0,018218 0,017945
Quality level 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102 1,0102
Net working capital RUB mln 222 236 282 351 400 479 571 678 106 117 169 203 233 272 319 370 328 353 451 554 632 751 890 1 047
Operating costs efficiency index % 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3%
Ratio of losses % 10,7% 10,1% 10,4% 10,3% 9,9% 9,6% 9,2% 9,2% 10,3% 8,7% 8,5% 9,1% 8,6% 8,1% 7,7% 7,7%                
Volume of investment program at the expense of transmission tariff (commissioning of fixed assets) RUB mln 6 784 5 253 12 308 15 541 14 866 13 615 15 877 14 903 2 464 3 334 4 459 11 11 12 12 13 9 248 8 587 16 766 15 552 14 877 13 627 15 890 14 916
Analyst manual (xlsx, 117 Kb).