I nAT (ATEK fiorequro6neHeproD Ta ioro AienbHicrb nAT (ATEK

nAT (ATEK,[oxequro6neHeproD flpuruirru 4o $ixaxcoaoi seirxocri sri4xo s MCO3 2O14 pix
flpuuirrn Ao
I
OiHaHcoeoT seirHocri
nAT (ATEK fiorequro6neHeproD Ta ioro AienbHicrb
nAT (ATEK
floxeqsxo6neHeproD (gani
-
Korvrnanin) crBopeHa
3aKoHo.qaBcraa Yxpaixu.
y Sopui
arqioHepxoro roBapucrBa
y
ei4noei4xocri go
Y ci,{xi 2012 poxy, a pesynurari opraxieoeaxop AepxaBon nprearusaqii, 40o/o anlit Korranaxii npu46ano DTEK Holdings Limited,
csii garanuxutfi xoxrponuxrfi naxer axqiri 4o 71,34%. l1icnn npuearusaqii y
3an[uaerbce 256/o+1 axqis
s6insuJreuu
AepxaBu
Konnnaxii.
OcxoeHu[, euAotvt Aicnsxocri Kounaxil e posno4in ra nocraqaHHf, efleKrpoexeprii vepes ceoi enexrpoMepexi, a rarox
erpo6xuqreo i s6yr enexrpuqxoi i tennoeoi eHeprii a Yxpaixi. Ocxoexi nigpos4inra Kounanii - qe 5 ei4oxpeMneHux ni4pos4inie,
3aranbHa AoBXl4Ha noeirpnxnx nixita enerrponepe4avi flK'|x craHoBr4ru 53 878 ru i ra6enuxi ninii enerrponepe4avi 8 283 xrvr.
KoMnaxic 3aKynoBye eneKrpoeHeprip Anc no4anbuJoro npoAaxy rixqeeum cnox[BaqaM B An <Exepropurox), AepxaBHoro
uoxononicra y cQepi posnoginy eneKrpoeHeprii, ea qinarar, po3paxoBaHrM[ Ha ni4craai po3paxyHKoBo-axanirurqxofo MeroAy
nporHo3oBaHoi onroaol qixn, nxui Bl4Kopl4croBye HaqioxansHa roMicic 3 nnraHb perynpBaHHe eneKrpoeHepreruxu YxpaiHur.
lOpu4rvna aApeca Kounanii: npocnexr flexina 11, l-opniexa, ,floHequxa o6nacrs, 8460't YrpaiHa.
CraHona xa 31
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rpy4xn 2O14 pory e KoMnaHii npaqloBanu npr6nusxo 8 398 oci6 (xa 1 civxn 2014 poxy
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9 115 oci6).
EeanepepBHaginnunicru
BiAnosi4xo, qn Sixancoea geirxicrs 6yna cxna4eHa 3 ypaxyBaHHRM npunyqeHHn crocoBHo 6esnepepexol ginnunocri, qo
nepe46avae peanisaqin axrueie ra noraujeHHc so6os'ssaHs e xo4i seuvarinoi4innuxocri.
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Ymoer, B gxxx npaqKre Kounaxin
B Yxpaixi cnocrepiranrscn Aecxi eBr4qa, xapaxrepni Anf, phHKoBoT erononixr,r, lqo 3apoAxyerbce, y rouy vrcni siAxocHo Bl4cora
irSnnqin ra et,tcoxi npoqexrxi craBKu.
flo.tt4Hatoqu s xixLls 2013 poxy noniruqxa curyaqin a Yxpairi nepexhBana xecrifixicrs s 6araro rinsxicHuuu nporecraMh,
npoAoBxyerbcs noniruqxa xes[gxaqexictb, qo npu3Beno Ao noripu:enHn AepxaBHoi exoxoluixu, BonarunbHocri $iraxcoaux
puxxia i crpiuxii AeeanueaqiT xaqioxanuxoi eantorh no si4FrouJexHrc Ao ixurx ixosen Hux Banpr (s novarxy 2014 poxy).
HaqioHanuHuti 6axx Yxpaixut, cepe4 iHu.l,tx t',tip, aao4na negxi o6MexeHHfl Ha noKynKy ixose[,txoi Banorlt Ha Mix6axxiscbKoMy
puxxy. Floniruvxa crryaqis e 2O14 poKy raxox 6yna xecra6insxa, gi gninalrLr y l'lapnanaexri ra nepeer6opauu flpeeu4exra.
flo4arxoee, BanprHe ra MurHe 3aKoHoAaBcrao e YxpaiHi Moxe Marl,t pisxi rnyuaueHHq, Ta Ayxe qacro s[irixperucc. l-lo4ansuuri
exoxolr,titrxuri po3Br4roK Yrpalxu 3HaqHorc naipon sanexnru eig e$erruexocri eroxomiqnux, $iHaHcoaux ra MoHeraprux saxogie,
eKr4x BxuBae Ypn4, a raxox ei4 suix y no4arxoairi, ropu4uvxiri, perynnruaxifi ra nonirrqxili cQepax.
,[nn eusuarexHn pesepeia xa sreqinexxn xepiaxuqrao 6epe Ao yBaru eroHolri.{xi $arropra, qo icxyeanu ra xixequ seirxoro
nepio4y. Pesepeu xa sxeqixexxn 4e6iropcsxoi ea6oproaaHocri susna.{atorbcc 3a AonoMoron axanisy rT eiroeoi crpyKrypil ra
ananisy nnarocnpoMoxxocri oKpeMrx 4e6iropie. Taxri niAxiA 6asyerscn Ha Br3Har{eHxi s6ffixie eiA sxeLlixexxn y sairxomy
nepio4i Ha ocxoei M[Hynl4x no4iri, ra sa6opoxne Bl,t3HaBart,t s6larxu, cxi 6 Mornu BrHhKHyrh y pesynurari uafi6yrnix no4iri,
He3anexHo ai4 eiporigxocri rarrx uari6yrxix no4ifi.
KepiaHuqreo He Moxe nepeg6avuru eci rexAexlliT, nxi uoxyrs BnfluBaru xa exoxoririxy Yxpaixr, a raKox re, cxr4fi ennre (sa
xasaxocri raxoro) BoHl4 Moxyrb Marla Ha uafi6yrxii Qixaxcoarri crax Komnaxii. Kepiexuqrao BneBHeHe, ulo BoHo axueae ycix
xeo6xi4xux gaxoAie 4nn sa6esne,{eHHn cra6inuHoi AicnuHocri ra posenrxy KounaHii.
4
OcHoexi npxHqxnx o6nixoeoi noniTnxx
Ocnoea nideomoexu in$opuaqii. Lln Qixaxcoea seirxicru ni4roroanexa eiAnoeiAxo Ao MixxapoAHlrx craHAapria $ixancoaoi
eeirxocri ('MCO3).
Banpma nodannn. flxqo re
3a3HaqeHo
ixue, yci cyMr4 y qiri Qixaxcoeifi seirxocri noAaxi y xaqioxansxiri eantori
Yxpaixra
-
rpueni.
llepeo4inxa inosennoi eanrcmu. OyrxqioHanbHolo Banprolo Kounaxii e rpuBHe.
Morerapxi aKruBl4 i go6oe'seaxxc e ixoseruFrifi eanpri nepepaxoBylorucn y $yxxqioxanuxy Baflxlry Kounarii sa o$iqifixuu o6urixxr,tvr
xypcoM HaqioHanuHoro 6aHxy YxpaiHu (HEY) craHou Ha ei4noei4Hi seirHi 4aru. Onepaqii, 4eHouiHoeaHi y Bantorax, u{o
aippisxnnrscn ai4 $yxxqioxansxoi Bantorta, nepepaxoByprucn y QyxxqioHanbHy Bantory is euxopucraxHeM Kypcy o6ruiry, r{l4HHoro
Ha Aary npoBeAeHHe onepaqii. floxo4u i s6ilrxn ai4 rypcoenx pisxuqs, ulo Br,rHuKaprb y pesynbrari pospaxyxxia no onepaqinx i
nepepaxyHKy MoHerapHux arrneie i go6oe'ssaxu y QyxxqioxanbHy Bafltory Kounaxii sa o6Mixxurn4 KypcaMu HEY xa xinequ poxy,
ei4o6paxarcrucn y cxnagi npn6yrxy vr,r s6urxy sa pix. f'lepepaxyHoK 3a KypcaMh xa xirequ poxy He 3acrocoByerbcq Ao HeMoHerapHlrx
nosuqiri, B roMy .lacfli Ao ixeecrnqifi y xaniran. Bnnre gMix rypcy o6uixy Ha cnpaBeAnuey aapricru AonboBt4x qixux nanepia
o6nixoayeruce eK qacrnHa npu6yrxy a6o s6urxie eig auixu cnpaaegnueoi eaprocri.
Ocnoeni saco6u. KoMnaxic o6nixoaye ocxoexi saco6t,t sa nepeoqiHexorc eapricrro. f'loAansui HaAXoAXeHHc ocHoBHrlx aaco6ia
o6nixoeyrcrucn sa nepaicxoo aapricno. flepeicxa aapricrs o6'erry ocHoBHr4x saco6ie BKntoqae Burparu, 6esnocepe4xuo noe'cgaHi g
tioro npn46axxnna. flepeicxa eapricru axrhaia, crBopeH[x caMop Kounaxiep, cKnaAaerbce s eaprocri uarepiania, npcMhx Bt4rpar
Ha onflary npaqi ra eiAnoeiAHoi qacr[Hr4 eupo6xnvux HaKnaAHux Bt4Tpar.
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nAT (ATEK ,[oxequxo6neHepro) flpuuirxu go $iraxcoeoT seirxocri sriAro s MCO3 2014 pix
Burparu Ha sauixy rt4x KoMnoHeHrie o6'exra ocHoBHr4x saco6ie, gxi eugxalorucn oKpeMo, xaniranisyrcrucn, a 6anaxcosa aapricrs
gauixenux xoMnoxeHrie cnilcyerbcr. lxuli no4ansu.ri aurparr xaniranisyorscg nuuJe y BunaAKy, sKtqo BoHt4 npu3BoAsrb
s6inuueHxc
uafr6yrHix eroxoMi.{Hl4x Bt4roA, noB'f,3aHux 3 o6'exrou ocHoBHr4x saco6ie. Yci ixu:i Bt4rpan4 Bl43Haorbcfl y eeiri npo
Sixaxcoei
pe3ynbraru y cxnagi Bt4rpar y roMy nepio4i, B cKoMy eoHu noHeceHi.
BuglasHs ocHoBHt4x saco6ie npunuHqerbcq nicnc Ix eu6yrrn a6o nxqo rphBane BrKopt4craHHe aKTuBy, nx ovixyerucR, He npuHece
naati6yrxix eroHoltiqlux eraro4. flpr6yrox ra s6urxu ei4 eu6yrrn arrraie Bil3Haqaprbcq uJnsxoM nopiexnxrn cyMh HarqxoAxexu is
6anaHcoeop aapricrrc axrueia ra Bu3Haprbcn y seiri npo Siraxcoei pesynuraru. Fxulo nepeoqixexi aKrhBt4 npo4arcrscn, cyun,
eKfltoqeHi 4o ixulux pesepaie, nepeHocnTbce Ha Hepo3noAinexuri npra6yrox.
Auopmusaqir.
Hesaeepu.teHe 6y4iaxuqrBo He aMopr43yerbce ra sBnfle co6oro eapricrs ocHoBHr,tx saco6ie (exnrcvarcvu aBaHcu
nocraqanbHuxau), 6ygieHullrBo qKux u{e He 3aBepuexe. Auopril3aqie iHur4x o6'errie ocHoBHt4x saco6ie po3paxoByerucc nixifixu1l1
MeroAoM 3 Merop piexouipxoro 3MeHuJeHHfl nepaicxoi a6o nepeoqirexoi aaprocri 4o nixei4aqiixoi aaprocri npornrou crpoxy ix
excnnyaraqii 3a HacrynHuMt4 HopMaMta :
cnopyAl4
o6naAHaHHe
Me6ni, o$icne ra iHr.le o6naAxaHHs
byArBnr
ra
eiA 10 Ao 50
BiA 2 Ao 30
eiA 2 Ao 15
Bupo6ruve
flixeigaqiriHa eapricrs aKruBy - qe oqixot{xa cyMa, nxy Kounaxin orpuMana 6 y renepiu.txifi uorr,lexr ei4 npogaxy Llbofo aKruBy, 3a
uirycotu oqiHovxux Bt4rpar Ha npoAax, sx6u crax ra crpoK excnnyaraqii AaHoro aKruBy eignoei4aa crpoKy ercnnyaraqii ra craHy,
sxi qeti aKruB MaruMe xanpraxinqi crpoKy Kopr4cHoro BuKopr4craHHn. Iixai4aqifiHa eapricru aKruBy 4opienroe Hynto, eKl{o KorunaHis
uae xauip Bl4Kopt4croByBaru aKruB Ao xixtlc Qisuvxoro crpoKy fioro excnnyaraqii. flixaigaqitina eapricru axrueie ra crpox ix
excnnyaraqii nepernqAaprbce ra, ea xeo6xi4Hocri, xopuryrorbcs Ha xoxny sairHy Aary. y BunaAKy sxeqixerHR ocHoBHt4x saco6ia
ixxc 6anaHcoea eapricrs 3MeHuJyerbcc 4o aaprocri BuKoprlcraHHn a6o 4o cnpaBeAnrBoi eaprocri uixyc enrparu Ha npo4ax,
3aflexHo eiA roro, qKa 3 Hhx 6inuua.
flodamxu na npu6ymox. Y .liil $iHaHcoairi seirxocri noAarKh xa npu6yrox noxasaxi ai4noei4xo Ao Bl,tMor 3aKoHoEaBcrBa
Yxpaixr, nri aae4eHi a gin a6o npaKr[trHo 6ynu aae4exi a 4iro craHoM xa seirny 4ary. Burparu 3 noAarKy xa npra6yrox
BKflloqarcrb norot{Hi noAarKr4 ra ei4crpoveHe onoAarKyBaHHn Ta aigo6paxarcrucn y eeiri npo $ixaxcoai pesynurarr, Rxr.qo rinurr
crocyrorbce onepaqifi, nxi ei4o6paxexi y qboMy caMoMy a6o inurorvry nepiogi a iHuJt4x cyKynHux AoxoAax a6o 6esnocepe,qHbo
BlrnaAKy noAaroK raKox Br43Haerbce B ixunx cyxynH[x AoxoAax a6o 6esnocepeAHbo y cxnagi
xanirany, eiAnoeiAxo.
BoHl4
y cxnagi xanirany. Y quouy
floroqxufi noAaroK - qe cyMa, qo, eK ovixyerucn, uae 6yrn cnnaqeHa noAarKoBr4M opraHaM a6o nuuu ei4ruxo4oaaHa crocoBHo
onoAarKoByBaroro npu6yrxy vu s6urxia sa noroqxilli Ta nonepeAHi nepio4n. lxr.ui noAarxu, 3a BuHerKoM noAarKy xa npu6yrox,
o6nixoaynrscn y cxnagi onepaqifirux Br4rpar.
Bi4crpoveHufi noAaroK xa npn6yror po3paxoByerbcc 3a MeroAoM 6anaHcosr4x so6oe'cgaxu BiAHocHo nepeHeceHux no4arKoBt4x
uix nogarxogop 6asop axrueie ra go6oe'cgasu ra ixHuoro 6anaxcoeop eapricrrc
y $iHaHcoeii seirxocri. Bi4noei4Ho Ao BuKnpqeHHf, npla noqarKoBoMy etasHaHHi, ei4crpovexuri noAaroK He Bu3Haerbc+ MA
Tl4MqacoBl4x pisxuqu, ulo Br,rHr4Kalorb npn noqarKoBoMy Bl43Haxxi axruey a6o so6oe'qgaHHq, qKe He Bnn[Bae xa 6yxranrepcuxuri
a6o onoAarKoeyeaHui npu6yrox y peeynurari onepaqii, nKa He e o6'eAHaHHerir xounaxii.
s6tarxie ra ruMqacoBux pisHutlu, r4o Br4Huxapru
Cyuu ai4crpoqeHrx noAarxie Br3Haqaprbcn is auxopucraHHeM craBoK onoAarKyBaxHs, cxi 6ynu eeegexi e 4iro a6o nparrnvuo
6ynu eee4exi e 4in craHoM xa seirny 4ary i nxi, nx ovixyersce, 3acrocoByBaruMyrbcn y nepio4i, xonra 6y4yru croproaaHi
ruM,.racoei pisHuqi a6o 3apaxoBaxi nepexeceHi noAarKoBi s6urxr. Bigcrpovexi noAarxoBi aKruBr4 no ruMeacoBux pigH[qnx, u{o
3MeHuJylorb onoAarxoByBary 6asy, ra nepeHecexi no,qarxoai s6rrxr4 ai4o6paxarcrbce nuule B roMy o6ca3i, e nronay icxye
riuoaipxicru orpuMaHHe onoAarxoByBaHoro npu6yrxy, ai4xocxo eKoro MoxHa 6yge peanisyBarh n4Mqacoei pisHraqi.
Toeapno-uamepianani 3anacu. Toeapxo-uarepiansxi 3anacu o6fliKoByrorbcn sa nepaicHorc aapricrrc a6o ,.rucroto eapricrn
peanisaqii, 3aflexHo ei.q roro, tKa 3 Hux MeHUa. Bapricru nanilBa Bh3Haqaerbcfi 3a MeroAoM cepeAHbo3eaxeFrol Baprocri, a
eapricrs irurux xareropifi sanacia - 3a MeroAoM nepuJr4x HaAxoAXeHb (uerog OIOO). 9ucra eapricru peanisaqii - qe
po3paxyHKoBa qiHa peanieaqii y xogi HopMaflbHofo BeAeHHc 6isxecy 3a BupaxyBaHHeM Br4rpar Ha AoBe,qeHHR sanacie 4o
3aBepueHofo craHy ra Burpar na s6yr.
KnacuSixa4in Sinancoeux axmueie.
KoNanaxic
xnacu$ixye ceoi $iHaHcosi axrueu cK KpeAhr4 ra 4e6iropcuKy 3a6oproBaHicrb.
Kpeguru i 4e6iropcuxa 3a6opfoBaxicrs - qe xenoxi4xi $ixancoai aKTr4Br4, r4o He Kon4pyrorbcfl Ha aKruBHoMy pr4HKy, 3
$ixcoearuur,r nnarexaMu a6o raxuruu, l.t1o Moxyrb 6yru ausxaveHi, xpina rux QixaxcoBflx aKT]4BiB, cxi Kon naxic ruae uauip
npo,qaru xerariHo a6o y xoporxii nepcnexruei. BoHu BKllroqaprbcs Ao cKnaAy o6oporHr4x axrueie, 3a BuHflrKoM rux is Hux, crpor
noraueHHc eKux nepeBuulye 12 naicnqia nicnq seirHoiAaru. Taxi
aKTr4Br4
BKnpqaprbcc Ao cKnaAy Heo6oporHr4x axrueie.
ffe6imopctxa 3a6opeoeaHicma. le6ftopcuxa sa6oproaaHicru 3a ocHoBHoro ginnsHicrrc ra iHua 4e6iropcuxa 3a6opfoBaHicrb
3a cnpaBeAnilBoro eapricrrc, a B noAanbuoMy oqiHrcerucR ea aMopn43oBaHorc aapricrrc is
cnoqarKy o6niroeyeruce
Br4Kopr4craHHqM MeroAy eQeKruBHoi npoqeHrHoi craBK[ 3a MiHycoM peaepeie xa sxeqirexrn. Pesepe Ha 3HeqiHeHHn ge6iropcuxoi
sa6oproeaxocri craopnerbcs y roMy BunaAKy, xonu icxye o6'eKTuBHe cBi.qqeHHq roro, r4o KoMnaHic He 3Moxe orpuMal4 Bclo
cyruy sa6oproeaHocri eiAnoeiAHo Ao nepBuHHr4x yMoB. Cyneei SiHaHcoei rpy4xor4i 4e6iropa, fiuoeipHicru roro, r4o,qo Ae6iropa
6ygyru sacrocoeaxi npoqeAypr4 6axxpyrcraa a6o Qiraxcoeol peoprarisaqii, a raKox HenoraueHHe a6o ne4orpuruaxrn crpoxie
noraueHHfl Ae6iropcuxoi 3a6oproBaHocri ceiA.raru npo re, u.lo Ae6iropcbKa 3a6oproBaHicrb 3a ocHoBHolo AisnuHicrn e
sxeqiuexon. Cyua pesepey eBnce co6oro pisnuqrc prix 6anaHcoaorc eaprictro aKruBy ra noroeHoro eapricrrc oqiHovHux uari6yrHix
rpoLlroBr4x noroxie, AucKoHToBaHux sa nepBicHorc eSeKTuBHolo npoqeHTHoto craBKolo. SanaHcoaa sapricru aKruBy 3MeHuyerbcn
nAT (ATEK,[orequxo6neHepro) flpuuirxu go $iuaHcoaoi seirnocri sri4Ho e MCO3 2014 pix
4
OcHoeHi nplrHqrnx o6niKoBoi nonirxKlr (npogoexexxn)
a cyMa o6urxy Br{3Haerbce y seiri npo QiHarcoei pesynsraru. flxn1o 4e6iropcsra
sa6oproaaricrb 3a ocHoBHoto 4innsuicro e raKon, qo He uoxe 6yru noBepHyra, BoHa cnt4cyerbce 3a paxyHoK pesepay nig
4e6iropcuxy sa6oproeaHicrb 3a ocHoBHoto 4innuxicrrc. floeeprexrn paxiule cnucaHilx cyM KpeAuryerbce y seiri npo eiHaxcoei
3a paxyHoK si4noei4xoro pesepBy,
pe3ynbraru.
Ilepedonnamu. flepe4onnaru o6nixoeyprbce 3a nepeicxoto aapricrro uiHyc peeepe ua eHeqiueHHn. Flepe4onnaru eigrocnrscn
4o rareropii AoBrocrpoKoBl4x, eKulo roBapu qu nocnyrx, sa nxi 6yno s4iicHeno nepeAonnary, 6ynyrs
-6y4e orpnuaxi vepeo o4un pix
a6o nisxiue, a6o nrulo nepeAonflar[ crocylorbce aKTuBy, axuil npu noqarKoBoMy a[gHaHHi
ei4xecexuri 4o xareropii
xeo6oporHux arrheie. flepe4onnaru 3a nocnyrn cnucyrorbcn xa npn6yrox,{h g6urox nicnR orpuuaHHc nocnyr, sa nxi aoxn 6ynu
s4ilicxexi, a nepeAonnaru 3a roBapu xaniranisyorscn y cxna4i co6ieaprocri orpnMaHlax roaapia. frqo icHye cei4ve6xn roro, ulo
ToBap[ a6o nocnyrr, sa nxi eu4axa nepeAonflara, He 6y4yru orpuuari, ei4noei4re sHeqixexHn Bu3Haerbce y seiri npo
$iHaxcoei
pe3ynbrarh.
I-poutoei Koaamu ma i\ exeieaneHmu.l-pouoai Koturu ra ix exeiaanexru BKntoqatorb roriaxoei Korrlrt4, Aeno3urr4 .qo 3anuraHHc B
6axxax ra ixr.ui KoporKocrpoKoei eucoxonixei4ri ixeecruqil, nepeicxrra repuix posuiqeHHn eKnx He nepeBuulye rpsox ruicnqis.
l-potuoei KotlJru ra li ereieaneHru ai4o6paxaprbcc ga xouixansHoo eapricrro. flixei4xi uoxerapHi aK14Bt4 noxasaxi sa
cnpaBeAflrBorc aapricrrc, nxa npu6nusxo 4opiexne ix 6anaHcoeifr aaprocri. Cyrvru, Bt4Kopt4craHH I eKVx o6ruexere,
BilKnrcqalorbcn si cxna4y rpouJoBl4x xoturie ra ix exeieaneHTiB npu nigroroeqi seiry npo pyx rpouJoBt4x rouJrie. Cyura, o6uexetHn
uloAo flK14x He Ao3BoflBloru o6ltiHcru Ix a6o euxoplcrarv.qflg po3paxyxxy sa so6oe'caaHHsrvl4 nporsroM npuHaiuxi ABaHaALlert4
uicnqia nicns seirxoi Aaru, BKnloqarcrbcq Ao cKnaAy ixr.unx xeo6oporHr4x axrueis.
Axtqiouepnu(t xaniman. f'lpocri axqil xnacnsixoeaxi gx xaniran.
ffueidendu. rQraei4ex4u Br43Haorbcs sx go6og'RsaHHn ra BupaxoByrorbcn s xanirany, rinuru qKl{o BoHr4 oronouJeHr 4o vu xa seirHy
4ary. lxQoptvtaqin npo gueiAer4u po3KpuBaerbcn y npuuirxax 4o $iHaHcoeoi sairHocri, nxqo BoHu 3anponoHoeaHi Ao seirHoi
4aru a6o 3anponoHoBasi qu oronouteHi nicnc seirHoT Aarv, ane Ao yxBafleHHn Qinancoaoi geirHocri Ao BunycKy.
I'lodamox na dodany eapmicma fiAB). 1-l[B a Yxpaixi crrryerucR 3a ABoMa craBKaMu: 2oo/o npu npoAaxy xa repuropii yxpaixi
ra iunopri roeapia, po6ir vu nocnyr ra OYo npu eKcnopri roaapie ra BuKoHaHHi po6ir a6o ra4axnt nocnyf sa Mexi Yxpaixu.
f'lo4arxoee so6oe'csaxHq s l1r[B 4opiexrce garanuxiri cyrr,ri f1.QB, aKyMynboBaHii sa seirHhri nepio4, I erHuxae Ha Aary
aiAeaxraxeHHn roeapie xniexry a6o Ha Aary HaAxoAxexxc xouJrie ai4 xniegra 3anexHo eiA roro, nxa no4in ei46ynacn paniure.
Kpe4ur .Il4_B - qe cyMa, Ha eKy nnarHuK no4arKy Mae npaBo 3MeHuJnnl ceoi so6oe'csaHHe 3 llflB sa geirxrfi nepiorq. flpaeo xa
KpeAur s f],QB eunuxae B MoMeHT orp[MaHHg Haxnagroi s flAB, sxa B[Aaerbcq B MoMeHT HaAxoAxeHHq onnaru nocravanbHuKy
a6o s naotlexr orpHMaHHc roeapia, 3anexHo eiA roro, u1o ei46yeaerucn paHiule. ll,QB, qo HapaxoByerbcn Ha onepaLlil npogaxy ra
3aKynKH, Bl43Haerbcn y 6anaHci pffiropHyro ra noKa3yerbcfl oKpeMo RK aKTilB ra so6oe'qsaHHs. Y rux BunaAKax, ronu ni4
eHeqixexnn 4e6iropcsxoi sa6oproeauocri 6ye creopexui pe3epB, s6urox ai4 sHeqiHexxn o6niroayerbce 3a BanoBolo cyMox)
sa6oproeaxocri, eKnn.{arovra llrQB.
inui go6oe'nsannn flosuroai Korur[ Ta iHu.ri so6oe'c3aHHs cnoqarKy Bt43Haprbce sa cnpaBeAnuBoro
BupaxyBaHHcM noHeceH[x Bl4rpar xa s4iticxeHHn onepaqii. flosuxoai xoulru o6nixoBylorbce 3a aMopn43oBaHop
Bapricrto is euxopucraHHnM Mero,qy e$erruexoi npoqeHrHol craBxr. Burparu no no3ilKoBt4x Koulrax eigHocnrucn Ha Burparu Ha
nponopqitiHo-qacoeil4 ocHoei is auxopucraHHf,M MeroAy e$exrrexoi npoqeHrxoi craexu. Korunanin xaniranisye Blarparh no
no3ilKoBl4x Koturax y cxna4i co6iaaprocri xaaniSixaqiixoro aKruBy. nosuxoei KouJru noKa3ylorbce y cxna4i norovHux so6oe'nsaxu,
xpiru eunagrie, Konu y Kounaxii e 6e3yMoBHe npaeo ei4crpoquru po3paxyHoK 3a so6oe'ssaHHcrvr npuraiuri xa 12 rrlticnqie nicnn
38irHoi Aaril.
I7oguxoei Koalrmu ma
aapricrn 3a
Aeancu ompuuani. AeaHch orpuuani o6nixoayrcrscn y posuipi noqarKoBe oAepxaHux cyM.
3a ocHoBHoro 4innunicrrc ra iHula Kpe.quropcbKa
ceoi so6oe's3aHHf, 3a AoroBopoM, cnoqarKy B143Haerbcn 3a
oqirrcerbcq 3a aMopfl43oBaHolo Bapricro 3 Bl4Kopr4craHHeM MeToAy e+exruexoi
Kpedumopcaxa sadopeoeaHicmb. Kpe4uropcuxa 3a6oproBaHicrb
sa6oproeaHicrb HapaxoByerbce, Konu KoHTpareHT B14KoHaB
cnpaBeAnuBorc eapricro,
ay
noAanbuJouy
npoqeHTHoi craBK14.
Pesepeu go6oe'n3ana ma aidpaxyeaar. Pesepgil eo6oe'cgaxu ra aigpaxyBaHb Br43Harcrbcr, xonu Kounaxic ruae renepiuJHe
a6o nepe46avyBaHe go6oe'cgaHHc B pe3ynbrari urxynux no4iri, iorye riuoeipxicrs, qo Ann norauJeHHe raKoro
so6oe'csaxxc norpi6Ho 6y4e eunyvuru pecypcr4, a cyMy quoro ao6oe's3aHHr MoxHa po3paxyBaru s 4ocrarxiu piexeu ror{Hocri.
Konu icxyrcru 4exinuxa cxoxr4x so6oe'ssaxs, iluoaipHicrs roro, u{o Anc ix noraueHHs sHa4o6urucn ei4rix rpou.toeux xouJris,
B[3Haqaerbcg ,qnq Bcboro Knacy raK]4x go6oe'qsaHu. Peaepe Bu3Haerbct, xaeirs xonu fiuoeipuicru ei4roxy rpouJoBt4x xouirie
qogo 6ygs-nxoi nosuqii, exnloqexol Ao oAHoro fi roro x rnacy so6oe'n3aHb, e He3HaqHop.
topl4At4qHe
Pesepeu oqirrcnrscn 3a norot{Ho}o aapricrrc B[rpar, rqo, RK ovixyerucn, 6yayru ueo6xi4Huuu Anc noraueHHq so6oe'ssaxs, is
Bl4Kopl4craHHqM npoqeHrHoT craer]4 (4o ono4arxyeaxHn), nxa ai4o6paxae noro,{Hi puHxoei oqiHru eaprocri rpouei y vaci ra
pt43t4Kl4, npurauauri so6oa'csaxHp. 36inuueHHs p$epBy 3 nnuHoM r{acy Br43Haerbcq rK npollerrui eurparr.
Konu Kounasin ovixye, ulo pe3epB 6yAe aiAuJxoAoBaHo, HanpuKnaA, eiAnoaiAxo Ao AoroBopy crpaxyBaHHe, cyrvra ei4uxoAyBaHHe
Bu3Haerbcq oKpeMHM aKTuBoM i nuure y BunaAXy, nxqo ai4u.rxoAyBaHHq 3HaqHop niporo rapatroBaHe.
i sro4ou peanisye eneKTpoeHeprin rixqeerarvr cnox[Bar{aM - ppl4At4qHl4M oco6aM i
HacefleHHlo. Bupyvxa, eKa Bu3Haerbcn ei4 npoAaxy qiei enexrpoexeprii, - qe eapricru o6cnry eneKrpoeHeprii, nocraenexoT
npornroM poxy, B eKy BKnpqaerbcn po3paxyHxoeufi o6cqr eneKrpoeHeprii, nocraeneHoi cnoxuBaeaM nporeroM nepiogy eiA Aarh
ocraHHboro 3Hqrrq noKa3aHb ni.lunuruxa 4o xiuqn poxy.
Bugnannn doxodie. KoMnaniq 3aKynoBye
KounaHis rarox eupo6nee eneKrpoexeprin, eKy BoHa peanisye ,[f1 <ExepropuHoK), AepxaBHoMy uoxononicroei y cSepi
posno4iny eneKrpoeHeprii, sa qixauu, po3paxoBaHurr/| Ha nigcraei pospaxyHxoBo-aHaflirr4qHoro MeroAy nporHo3oBaHol onroBoi
qinu,nxuu Br4Kopr4croBye HaqionanuHa xoMicic peryntoBaHHe efleKrpoeHepreruxu YxpaiHu,3a BupaxyBaxxnrr,t f1,QB.
nAT (.qTEK fioxeqsxo6neHepro> flputuirxr 4o SiuaHcoeoi seirxocri sri4xo s MCO3 2014 pix
4
Ocxoexi npxHqxnx o6nkoeoinonirurr (npogoexemnn)
Busnanna eumpam. Burparu o6nixoeynrucf, 3a MeroAoM HapaxyBaHHe. Co6iaapricrs peanisoeaHoi npo4yxr4ii arnnvae qiHy
saxynieni, rpaxcnoprxi Bt4rparu, xolr,ricifixi ra ixu.ri ei.qnoei4ri Bt4rparu.
tDinancoei doxodu ma Bumpamu, oixaxcoai AoxoAr4 Ta Burparu BKnpqalorb npoqeHrxi Br4Tparu 3a no3uKoBr4Ml4 KoulraMu,
eQexr gncxoHryBaHHs neHciiroro so6oa'cgaxxc ra pe3epBy Ha BxBeAeHHn axrreie 3 eKcnnyaraqil i npra6yrxra ra s6urxu ai4
rypcoeoi pisxuqi.
Bci npoqeurHi ra ixu.ti Bt4rparh 3a
no3uxoBr4Ml4 KouJTaM[ eignocnrucn Ha
npoqexrHoi craBKu.
Brrparn is erxopucraHHeM MeroAy eeexruaxoi
flpoqeHrHi AoxoAtl Bt43Halorbce no ruipi HapaxyBaHHe 3 ypaxyBaHHnu eQexruaxoi AoxoAxocri aKruBy.
Bunaeopodu npaqienuxau. Ilnan is ecmanoeneHuMu eHecKaMu. KoMnaHic s4iricHne nepe46avexi 3aKoHoM eAuHi coqianuxi
BHecKu 4o f'leHcitiroro QoHgy Vxpalxu 3a cBoii npaqiaxuxie. Bxecxr po3paxoByorbcs eK npoqeHT ai4 norovnoi eanoeol cyuu
sapo6irxoi nnaru ra ei4uocRrucR Ha Brrparn no nitipi ix sgiricxeHrn. .Qo cxnagy Bl4rpar Ha onnary npaqi y sairi npo $iHaxcoei
pe3ynbTarh BKnPqeHo neHcil, tqo Bunflaqynrbce Ha po3cy,q Kounaxii, ra inui nexcifixi ninbru.
3uinu y Sopuami $ixancoeo:i seimnocmi.3a neo6xi4Hocri, nopiannnrHi Aaxi 6ynu cxopuroeaxi ai4noeigxo Ao sniH y Sopruari
noAaHHfl $irarcoeoi seirxocri noror{Horo poKy.
5
Ocxoexi o6nixoei olliHKH ra cyAXeHHe, l4o BxKopl,rcroByBanxcb npr 3acrocyBaHHa o6nixoeoi nonirhKtl
Kounaxis po6urs oqixxu ra npnnyqeHHc, Rxi snnuaarcrb Ha cyMr4, gusHaHi y Qixaxcoeiri seirxocri. PospaxyHxu ra cyAXeHHg
nocritiHo oqixprcrucn i 6asyorucn Ha nonepeAHuonay 4ocei4i xepieHnqrea ra ixurrx $axropax, y roMy r{tacni Ha ovixyeaxxnx qogo
uai6yrxix no4ifr, nxi BBaxaprbce o6lpyHroeaHnun sa icxyrovux o6craeux. Kpiru axaaaHux oqixor, repieHuqrao Konltnaxii raxox
Bl4Kopl4croBye neeHi npoSecitaxi cyAXeHHc npu 3acrocyBaxxi nprrqrnie o6nixoeoi noniruxu. flpo$eciixi cyAXeHHR, sxi ,{t4xsrs
rata6inuu.t cyrreeuli BnfluB Ha cyMr4, ulo ei4o6paxarorucn y Qixaxcoeifi seirHocri, ra oqixxra, pe3ynbraroM nxux ruoxyru 6yru
sravni xopuryeaHHc 6anaFtcoaoi eaprocri axrtaeie ra go6oa'ssaHb nporeroM HacrynHoro $iHaxcoeoro poKy, BKntoeatorb:
Pesepe cyunienoi sa6opeoeanocmi. Kottnanin perynnpxo npoBoAr4rb aHanis 4e6iropcsxoi 3a6oproBaHocri xa npeAMer
xopucxocri. BrxoAq,{u 3 HaeBHoro gocai4y, KoMnaHiq B[Kopr4croBye cBoe cyAXeHHc npu or]ixr-li s6urxia ei4
3MeHuJeHHe xopucxocri e curyaqinx, Konu no3uqanbHuK 3a3Hae $iraxcoanx rpyAxoqie, i eigcyrHiri AocrarHifi o6cnr Sarruvxrx
AaHux npo axanori.{xux 4e6iropie. KoMnaxic aHanori,{xr4t\, vrxou oqiHrce sMiHr4 uai6yrxix rpouroBr4x noroxie Ha ocHoei 4aHux
3MeHuleHHc
cnocTepexeHb, r{o BKa3yprb Ha HecnpAATnuBy slririHy a craryci nofaueHHg 3o6oB's3aHb no3r4ganbHuKaMh B cKnaAi rpynr a6o
snaiHy 4epxaBHux qr4 MicLleBux eKoHoMiqHhx yMoB, u.lo cniaeigHocurbcn 3 BunaAKaMu HeBuKoHaxxs go6oe'R3aHb 3a aKThBaMu y
cxnagi rpynu. KepiaHuqreo B[Kopulcroeye oqiHxu, gacxoeaHi ra icropuvuux ,qaHlx npo crpyKrypy s6urrie crocoBHo arrueie s
aHanori,rHr4wl4 xapaKTepucruKaMu KpeAurHoro pu3r4Ky ri o6'exrueHux o3HaK 3MeHUeHHq Kopr4cHocri 3a rpynaMu 4e6iropcsxoi
3a6oproBaHocri. Buxo4nvil 3 HaeBHoro 4ocai4y, KoMnaHic Br4Kopr4croBye cBoe cyAXeHHc npu KopuryBaHHi AaHux cnocrepexeHb
crocoBHo rpynu ge6iropcuxoi sa6oproeaxocri 4nn ai4o6paxeHHe norovHr4x o6craeuH.
3ne4inennn ocHoeHux saco6ie. Ha xoxHy seirHy 4ary Kounaxin Bu3Haqae xacexicru o6'erruaHux osxax sHeqiHeHHfl ocHoBHr4x
gaco6ie. Fxulo raxi o6'exruexi o3HaKu icxyrcru, Kotrrnaxic oqixrce ei4noenrceauy eapricru aKruBy. Bapricrs ei4u.rxo4yeaxHe aKr[By
- Lle cnpaBe,qnuaa eapricrb aKTuBy a6o oAuHur.li, rqo reHepye rpouoei Korurr4, 3a BupaxyBaHHeM Br4rpar Ha npoAax a6o aapricrs
Bt4Kopr4craHHr aKTuBy, 3aflexHo ei4 roro, nKa 3 Hux 6inuura. Bapricru ei4u.rxo4yeaxHq Br43Haqaerbcf, Afln oKpeMofo aKTuBy, 3a
Br4HnrKoM eunaArie, xonu eiA aKTuBy He HaAxoAFTu rpouroei noroKr4, u.lo e 3HavHoro uiporo He3aflexHuMu Bi.q rpouoBr4x nororie,
ulo Ha.qxo,qnru eiA ixr.uux axrugie a6o rpyn axruaie. lnn quoro Heo6xiAHo po3paxoByBaru Kopr4cHy aapricru oAr4Huqb, u.lo
reHepyprb rpouroei KolrJr4, Ha gxi eiAHeceHufi o6'exr ocHoBHr4x saco6ie. ,Qnn pospaxyxxy xopucHoi eaprocri KounaHis noBrHHa
eAilicHuru oqiHxy ovixyeaHux uafi6yrnix rpouroeux noroxie eiA oAn-rur-li, ulo reHepye rpouoei Kourn4, a raKox o6par6 eignoei4xy
craBKy Ar4cKoHry, xeo6xi4xy, u.lo6 o6qncnuru np[BeAeHy eapricru qlax rpouJoBr4x noroxig.
6
3anpoea4xeHHs HoBrx a6o nepernnHyrxx craH4apriB Ta rnyMaqeHb,3MiHa npe4craBneHrn npe3eHTaqii
Synu ony6nixoaaHi oxpeui Hoai craHAaprv ra rnyMaqeHHe, qo e o6oe'n3KoBr4Mr4 Ane 3acrocyeaHHs KounaHiep e
o6nixoeux nepio4ax, noquHatoqr s 1 ci,rxR 2014 poxy ra nisHiuJhx nepiogax. Kotr,tnaxis He 3acrocoByeana qi
u ra rnyMaqeHHq Ao nor.rarxy ix o6oe'csxoeoro 3acrocyBaHHs:
.
MCO3 12 <Poarpnrrn ix$opuaqiinpoqacrKl4 s xanirani ixr.uux xolunaxifi> (aunyuleHrfi erpaaxi 2011 pory; 3acrocoByerbce
4o pivHux nepio4ie, Rxi no,.ruxalorbcn 3 1 ci\4ta 2O14 poxy a6o nicnn qiei 4arn).
.
3uisu e MCSO 32 <<Dinancoei ixcrpyuexrr: noAaHHs) (ernyqeHnfi y rpy4Hi 201'1 poxy; 3acrocoByerbcn 4o pivuux nepio4ie,
sxi no.{rHa}orbcs 3 1 ci,{Hc 2014 poxy a6o nicnn qiei4aru).
3anpoeaAxeHHf, HoBlrx a6o nepernnHyrxx craHAapriB Ta rnyMaqeHb,3MiHa npegcraBneHHe npe3eHraqil
6
(npogoexexxn)
KTMO3 <O6og'e3KoBi nnarexi> (eunyulexufi 20 rpaeHn 2013 pory; 3acrocoByerbcn 4o piuuux nepio4ie, cxi noqrxaorucc s
cisaa 2O14 poxy a6o nicnn qiel garr).
1
3MiHu e MCSO 19 <Bunnaru npaqieHuxau: BHecKu cniepo6iuuxia> (aunyqexuit2l nucronaAa2013 poKy; 3acrocoByerbce
4o pivur,rx nepioAie, cxi nolruHalorscq s 1 ci,ana 2014 poxy a6o nicnn qiei 4aru).
nAT (!TEK,QoHequxo6neHepro) f]puuhxu 4o $ixaHcoeoi seirxocri eri4xo s MCO3 2014 pix
Hacrynxi eranyqeHi xoei crax4apru ra rnyMaqeHHfl, r.llo e o6oB'e3KoBVMu Ane 3acrocyBaHHn KounaHierc B HacrynHux o6niroeux
nepiogax, ane sxi qe xe 6ynu nprrinnri eeponeficuxuu Corosorvr:
a
MCO3 15 <Bupyvxa 3a KoHTpaKrauu g xnierrauu>
a
MCO3
9 <OiHaxcoei ixcrpyuerru: l0racra$ixaqin ra Oqixxa> (aranyulexrfr e nunxi 2014 poxy; 3acrocoByerbcn
nepio4ie, sxi noquxanrucc g 1 ciqHq 2018 poxy a6o nicnn qiei 4aru).
4o pivxux
Kepiexuqreo aHanisye noreHqifixuti ennue npufiuerrq qux HoBt4x craHAapria Ha $ixancoey seirxicrs Kounaxil.
7
PospaxyxKl{ ra onepaqii s noe'nsaHrMx cropoHaMll
3anrutxr ra o6oporu sa onepaqinuu is noe'ssaHuMr4
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TAKhM14:
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2014p.
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Y mucsr4ax epueeHb
l-por.uoei Koulru ra ii exeieanexrh
Toproea 4e6iropcuxa sa6oproeaHicru xafi6inuulux AepxaBHux ra KoMyHanbxux cnoxhaa,.tie
enexrpoeHepril
Toproaa 4e6iropcuxa 3a6oproBaHicrs, ra iHula 4e6iropcura sa6oproeaHicru
31 rpygnn
2013p.
27 855
45 061
337 221
1 174
143 818
lxuia noro..rHa KpeAuropcbKa sa6oproeaxicrs
787 764
(88)
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(10 e86)
197 781
(8 446)
(7 e06)
(3 579 000)
(3 826 228)
3 163 015
3 250 134
(1 333)
(4 333)
455
566
Toproea Kpe4uropcbKa 3a6oproBaHicru nepe4,[f1 " Enepropnxox"
Banoea cyMa AoBrocrpoKoBr4x ixulux $ixaxcoeilx so6oe's3aHb nepeA.[f1 "Erepropranor"
,Qoerocrpoxoei
iHr.r.ri
$iHarcoBi 3060B'e3aHHe nepeA r[f1 "ExepropuHox", eSexr AhcKoHryBaHHe
Banoea cyMa AoBrocrpoKoBl4x iHuux $iHaxcoeux so6oa'csaxs
iHu.ri $ixarcoBi 3060B'e3arxn, e$err ArcKoHryBaHHr
,Qoerocrpoxoai
2 479
2014 pix
2013 pix
659 404
3axynxr eyrinnn
93 084
20 958
180 331
3axvnxu nocnvr
30 589
19 831
Y mucnqax epueeHb
Peanisaqin enexrpoeHeprii
Peanisaqin iHu.lux nocnyr
I flpuuirrr
1 373
218 831
Ao 6aflaHcy
PnAox 1010 3anruKoBa Bapricrb ocHoBHr,rx 3aco6iB, Pngox 1005 HegaeepueHi KaniranbHi iHeecrltqii'
Y 6anaxcoeiri aaprocri ocHoBHr4x saco6ia i nesaeepurexux xaniranuxux iHeecruqifi ei46ynucn raxi stvrixu:
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ra Bupo6xuve Me6ni,
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o6naAHaHHs HxqrBo
Ha 1 ci.{xc 2013 p.
YMoexa eapricru
1 663 399
685 115
(415 483)
(138 506)
134 701
(81 485)
104219
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3anuuixoea eapricrs xa 1 civHc 2013 p.
1 247 916
546 609
53 216
104219
39 621
107 134
20 553
(2e7)
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(254 874)
flepeee4eHHn e ixuy xareropiro
3anrurxosa eapricru xa 31 rpygnr 2013 p.
3 951
1 036 317
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1
67 308
(18 061)
(367 700)
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10
1 951 960
(17 447)
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5 181
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52 653
(20 086)
66 686
1 733 507
Ha 31 rpygrn 2013 p.
f'lepaiua a6o nepeoqiHexa eapricru
1 706 599
796 986
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(670 282)
(219 135)
3anuurroea eapricru xa 31 rpygxn 2013 p.
1 036 317
577
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(1 1
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29 320
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16 716)
(52222)
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1 304
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557 012
1 706764
828 982
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933 395
567 016
3HeuiHeHHq ocHoBH14x saco6ie
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3anruxoga Bapricrb na 31 rpygnr 2014p.
Ha 31
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13
57 444
142 545
(4 666)
8217
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(19 688)
104
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1 654377
104
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2820 476
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l'lepeicHa a6o nepeoqiHeHa aapricru
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180
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528
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1 654374
Bi4noai4uo Ao MCO3 (IFRS) 1, KoMnaxic o6pana ei4o6paxexxn ocHoBHr4x saco6ie 3a cnpaBeAnueorc eapricrto Ha Aary noqarKy
ra BuKopr4craHHf, TaKoi cnpaBeAn14Boi aaprocri nx ynaoaHoi Baprocri Ha qto Aary.
3acrocyBaHHe MCO3
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ocHoBHr4x sacobie
cyrui 189 994 ruceq rpuBexu (2013: 365 020
y
peaniaoeaxoi npo4yxqii,
a1
BUTpar.
aapricrrc sanltiuleHHn. 2014 poqi Burparu ra auoprusaqirc
eKntoqeHi Ao cKnaAy co6iaaprocri
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156 rucnvi rpraexu (2013: 2 680 ilcs,.r rpueeru)
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Ao cKnaAy saranbHux
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a4uiuicrparuBHr4x
PnAox 1101 Brpo6Hrqi 3anacr, Pngox 1103 l-oroea npoAyxqin, Pngox 1104 Toeapn
Y mucgqax epueeHb
flanueo (eyrinnn, ras, uaoyr)
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31 rpygxs
2O14p.
39 166
31 rpyAns 2013 p.
32032
200
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3 339 741
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Al4cKoHToBaHux is sacrocyBaHHflM noroeHl4x npoqeHTHurx craBoK Anr HoBr4x iucrpyn/|eHrie, ulo Maorb noAi6Hrari xpe4urrufi pueur
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npoqeHTHl4x craBKax.
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