Annual Report 2013

Financial Results

11.5
bln RUB

EBITDA in 2013

1.7
bln RUB

The cumulative effect of cost management program

+34%

Increase in revenue in 2013

16.0
bln RUB

Additional income from fulfilling the functions of a supplier of last resort in 2013

BB
“Stable”
outlook

S & P credit rating

AA
Very High Credit Quality

National Rating Agency credit rating

2013 Financial Calendar:

February Standard & Poor`s rating agency improved the Company’s rating by one point from “BB-” to “BB” with a “Stable” outlook.
March IDGC of Centre published its RAS financial statements for 2012: the revenues and power transmission volumes demonstrated a 1.9 % and 1.8 % growth respectively, power losses were reduced by 0.4 %.
April The Company published its IFRS financial statements.
The National Rating Agency improved the individual credit rating of IDGC of Centre from “AA-” to “AA” (Very High Credit Quality, Level 2).
The first coupon payment was made in the amount of 178.5 mln RUB on Series BО-01 traded certified interest-bearing non-convertible bearer bonds (state identification number 4B02-01-10214-A) with a total circulation volume of 4 bln RUB and the coupon price of 44.63 RUB.
IDGC of Centre published its Q1 2013 financial statements under RAS: the revenue and gross profit demonstrated a 21.5 % and 21.0 % growth respectively.
June The Company prepared the issue of Series BО-02 – BО-06 bonds for a total amount of 25 bln RUB with a 10-year maturity period, state identification numbers 4B02-02-10214-A – 4B02-06-10214-A respectively.
July H1 2013 financial statements under RAS were published: the Company’s revenue demonstrated a 23.3 % growth.
August The Company published its interim H1 2013 financial statements under IFRS.
October The second coupon payment was made in the amount of 178.5 mln RUB on Series BО-01 traded certified interest-bearing non-convertible bearer bonds (state identification number 4B02-01-10214-A) with a total circulation volume of 4 bln RUB and the coupon price of 44.63 RUB.
The Company published its Q1-Q3 2013 financial statements under RAS.
IDGC of Centre signed credit agreements with VTB Bank for a total amount of 7.2 bln RUB with a term of 5-6 years.
December IDGC of Centre signed a facility agreement with Sberbank of Russia for a total amount of 6 bln RUB.
VTB Bank provided a facility to IDGC of Centre in the amount of 4 bln RUB.

IDGC of Centre and NLMK

On July 04, 2013, the Moscow District Federal Court overruled the claim of JSC NLMK to recover 5.1 bln RUB from IDGC of Centre and recognized the claims of the metallurgical works as frivolous.