11
organisation):
The payment procedure and remuneration of the audit organisations and individual auditors for audit
(including mandatory) and associated services are specified in the audit services agreements and cannot depend
on any requirements of the audited entities with regard to the content of conclusions which can be made during
the audit.
The remuneration for the Issuer's auditor, approved by the Annual General Meeting of Shareholders of
the Issuer, for mandatory annual audit and confirmation of the Issuer's annual financial statements, shall be
determined by the Board of Directors of the Issuer.
The auditor's remuneration shall be determined according to the tender results when the Company's
auditor is selected.
Actual remuneration paid by the Issuer to HLB Vneshaudit CJSC according to the results of the 2011
financial year, for which HLB Vneshaudit CJSC performed an independent audit of accounting and financial
statements of the Issuer in accordance with RAS, amounts to RUB 14,950,000 (VAT included).
Information on deferred and outstanding payments for services rendered by the auditor: No
deferred or overdue payments for the services rendered by HLB Vneshaudit CJSC.
1.3. Information on the Issuer's Appraiser(s)
Appraiser(s) were not involved.
1.4. Information on the Issuer's Consultants
Financial consultants were not attracted within 12 months before the end of the reporting quarter on the grounds
specified in this clause.
1.5. Information on Persons who Have Signed the Quarterly Report
Full name:
Nikolay Grigoryevich Shulginov
Born in:
1951
Primary employment:
Company:
PJSC RusHydro
Position:
Chairman of the Management Board – General Director
Full name:
Dmitry Vladimirovich Finkel
Born in:
1977
Primary employment:
Company:
PJSC RusHydro
Position:
Corporate Accounting and Reporting Department – Chief Accountant
12
II. Key Information on Financial and Economic Performance
of the Issuer
2.1. The Issuer's Financial and Economic Performance Indicators
The dynamics of the Issuer’s financial and economic performance indicators
Standard (rule), in accordance with which the accounting (financial) statements are prepared, on the basis
of which indicators are calculated: RAS
Measurement unit for workforce productivity calculation:
thousand Russian rubles/person
Indicator
2014
2015
2015, 3 months
2016, 3 months
Workforce productivity
18,991
19,605
4,302
5,078
Debt-to-equity ratio
0.19
0.20
0.19
0.20
Leverage ratio
0.13
0.14
0.12
0.13
Debt
coverage ratio
0.42
0.52
1.31
0.87
Overdue debt rate, %
0
0
0
0
All indicators are calculated on the basis of recommended calculation procedures.
Analysis of the Issuer's financial and economic activity on the basis of economic analysis of
dynamics of the given indicators:
Growth in the workforce productivity in 2015 as compared with 2014 is due to a 4 % decrease in the
number of employees (optimization of business processes and as a result of the number). The 18 % increase in
the ratio in 2016 (3 months) against 2015 (3 months) is due to the growth in revenue from the sale of electricity
(capacity) and decrease in the number of employees.
Debt-to-equity ratio characterizes the correlation between external and own sources of financing. The
indicator for all periods analysed is on the same level. Slight deviation is due to raising of borrowed funds to
finance the Issuer’s investment program.
Debt coverage ratio shows the extent of current liabilities which may be covered by funds available or
expected in the nearest future. The decline of this indicator is a positive feature of the Company's activities, as
the ratio of the existing short-term liabilities coverage by funds available increases. The ratio is equal to 0.42 at
the end of 2014, and amounted to 0.52 at the end of 2015, the deviation is negligible. Comparison of this
indicator for 2015 (3 months) and 2016 (3 months) shows a positive dynamic from 1.31 to 0.87, what is due to
the increase in revenue from principal activity (sales of electricity and capacity) at the end of Q1 2016.
In general, analysis of the creditworthiness indicators allows us to state that the Issuer’s financial status in
the period reviewed was stable.
2.2. The Issuer's Market Capitalization
Market capitalization is calculated as the product of the number of shares of the relevant category (type) and the
market value of one share disclosed by the market operator.
Unit of measure:
RUB
Issue 1-01-55038-E
Indicator
December 30, 2015
March 31, 2016
Market capitalization
RUB 232,294,036,584.85 RUB 263,735,231,426.89
Information on the securities market operator providing the data for calculation of the market capitalization, as
well as any other additional information on public trading of securities at the Issuer's discretion:
Source of information: CJSC MICEX SE official website (http://moex.com/)
2.3. The Issuer's Liabilities