Nikolai Khaustov, energy star: we have always professed the principle of total quality control. How baltinvestbank helped VIP shareholders Analysis of the property status of the enterprise
Zvezda-Energetika JSC has launched the assembly production of autonomous power sources from Russian components. The production capacity of the first stage will be 150 products per year. So far, the demand for units is low, but the company hopes for pent-up demand. Experts call the project promising, arguing this possible growth market and the need to change obsolete fuel oil autonomous capacities in the Far East.
At the end of last week, St. Petersburg-based Zvezda-Energetika, which specializes in the construction of autonomous power plants, officially announced the launch of a new assembly facility at its production site on the territory of the Kirov Plant. The company demonstrated the first autonomous source of electricity, fully assembled, according to the company's management, from Russian components. The diesel engine of the unit was produced at the Balakovo OAO Volga Diesel named after Maminykh, the electric unit was supplied by the Kursk OAO Elektroagregat. At the enterprise, they were assembled into a single installation, equipped with a control system.
Previously, Zvezda-Energetika purchased ready-made energy sources from foreign suppliers, built a supporting infrastructure around them and supplied them to customers. However, over the past two years economic conditions have changed: the ruble against the dollar has almost halved, which is why the cost of foreign-made equipment for Russian buyers has increased proportionally. In addition, after the implementation of technological sanctions against Russian oil and gas companies, monopolists began to demand that technical equipment suppliers have a certain proportion of Russian components in their products.
"Some government customers prescribe in the tender documentation a ban on participation in the tender for contractors who cannot prove that they will deliver a Russian product," Nikolai Khaustov, chairman of the board of directors of Zvezda-Energetika, explained.
The installation demonstrated at the enterprise on Friday was ordered by Gazprom in early 2014 to provide electricity to the Chayandinskoye field in Yakutia. Gas from this particular field will fill the Power of Siberia gas pipeline after its completion, so that after processing at a natural gas liquefaction plant, it will go to the ports of China and other consumers in the Asia-Pacific region.
The Zvezda-DG-630-400-03 electric unit has a rated power of 630 kW. The specific consumption of diesel fuel at rated power under normal atmospheric conditions is 239 g/kWh. The mass of the equipped unit does not exceed 11 tons. The unit can be both the main and backup power source.
The production capacity of the first stage is about 150 products per year when working in one shift. If the demand increases, the company will be able to increase production volumes. The management of the plant expects to reach 150 electric units from March 2016 to March 2017. Today, the modular production of Zvezda-Energetika is 65-70% loaded.
“Relatively speaking, a ready-made 630 kW electric unit has always cost $110-120 thousand. When planning the assembly of the Russian installation, we set ourselves a limit price no higher than the foreign counterpart. We met it,” says Nikolai Khaustov.
According to Nikolai Khaustov, Zvezda-Energetika has applied for participation in the FTP for three projects: a 1,000 kW diesel unit, a 1,100 kW gas unit, and a 1,600 kW diesel unit. R&D expenses, which should be completed by the end of 2016, will amount to 250 million rubles. During the calendar year, the company plans to launch pilot projects. In August, Maminykh Volzhsky Diesel will ship an engine for a 1,000 kW unit.
As "Kommersant" said CEO Zvezdy-Energetiki Alexei Andreev, the company will hire at least 40 employees to assemble power sources. "By the end of the year, we plan to sell about 30 units of 630 kW electric units," Mr. Andreev added. At the moment, about ten orders are in the works. Among the customers are Gazprom, oil and gas companies and shipbuilding enterprises that are part of USC.
The head of the analytical department of IK "LMS" Dmitry Kumanovsky noted that in this case we are talking about the growth of production, but so far within the framework of additional loading of existing capacities. "A sharper increase in staff will be required if new production lines are opened," the expert said.
According to Mr. Khaustov, the company is counting on the pent-up demand that arose in the industry during the first wave of the crisis. "In 2008 there was a crisis, and for the first six months of 2009 there were no orders at all, and in the second half of the year we made a year and a half production program", he said.
Dmitry Kumanovsky believes that the bet on pent-up demand is justified. “The issue of energy supply to the Far East, which lacks stationary capacities, needs to be addressed: it is necessary to replace inefficient fuel oil stations that have exhausted their resources. Accordingly, at the turn of 2018-2020, there will be significant demand for mobile generating stations in Russia,” the analyst is sure.
The management of Zvezda-Energetika JSC does not name the period during which R&D expenses will pay off, since the demand for power units is uneven throughout the year. In autumn, a large number of orders come "under the winter road". In addition, at the end of the year, state customers master the money included in the budget. “We feel confident when we receive an annual revenue of 8-10 billion rubles. Less than 8 billion rubles is not enough. More than 10 billion rubles is difficult,” added Nikolai Khaustov. He also noted that last year's sales reached a record level of 15 billion rubles, part of the turnover came from export orders.
It is worth noting that in the foreseeable future, Zvezda-Energetika may need a new supplier of diesel engines for a 630 kW unit, since Volzhsky Diesel has been going through bankruptcy procedures since last spring, and an external management procedure was introduced at the enterprise in December. Novikombank and Gazprombank claim to return the company's debts. In early March, the Arbitration Court received a demand from Alfa-Bank to make the register of creditors' claims heavier by 225 million rubles, including a credit institution in it. The monitoring procedure will last until May 31, 2017, after which the enterprise from the Saratov region will either deal with debts or go under the hammer.
Dmitry Kumanovsky assesses the prospects for assembly production positively. "The market for autonomous distributed generation based on internal combustion engines in Eastern Europe, which includes the Russian Federation, is about $ 150 million. But by 2018-2020 it can grow by 18 percent, up to $ 180 million. Therefore, the new production, competitive in price and quality, is quite can absorb the volumes of production of new Russian generators," he said.
The main demand is provided by public utilities and distributed generation in remote settlements, where it is impractical to pull power lines. Also, demand comes from the oil and gas industry, where it is necessary to provide energy for the developed fields. The ratio of these two industries is approximately 60% to 40%.
German Kostrinsky
On Sunday, February 18, the French newspaper Journal du dimanche (JDD) published its "exclusive data" on the possible "connection" of Donald Trump with Russian billionaire Dmitry Rybolovlev.
The JDD investigation came out under the title "Rybolovlev: The Oligarch Who Saved Trump From Bankruptcy."
The newspaper believes that "American investigators who are looking for confirmation of Russian interference in the election of Donald Trump may eventually visit Monaco", where Dmitry Rybolovlev lives - "an oligarch and former potash magnate", a prominent and "ambiguous figure" in the life of the principality, the owner local football club.
JDD recalls that the American investigators are primarily suspicious of the 2008 deal, when Rybolovlev bought a villa in Palm Beach (Florida) from Donald Trump for $95 million: “this deal allowed the American to make a fantastic profit of $54 million and avoid bankruptcy."
On February 9, 2018, Democratic Senator Ron Wyden, a member of the Congressional Treasury Committee, sent a request to US Treasury Secretary Steven Mnushin, in which he noted that "the sale of real estate in Palm Beach deserves careful study." Of course, a luxurious residence located 150 meters from the Atlantic Ocean, on a plot of 62 hectares, is expensive, but in 2004 Donald Trump bought it for $ 41 million, and in 2008, at the height of the mortgage crisis in the United States, he sold it to more than twice as expensive.
“And it was during this period that American investigators believe that Trump’s secret deal with the Kremlin was struck,” writes JDD and quotes journalist Luke Harding, who notes that “at key points in his business career, Trump miraculously saved himself from ruin thanks to money who came from the former countries of the USSR.
"Rybolovlev's ex-wife, when their divorce proceedings were going on, stated" that Dmitry really wanted to buy this house, although he "had never been able to see it in person," says the Journal du dimanche. According to the newspaper, "in the course of his testimony in the United States," Rybolovlev's ex-wife said that after the purchase, "he did not live in the house for a single day."
The newspaper calls the second suspicious circumstance the fact that two months after the sale of the villa, Donald Trump creates a company in Cyprus - "in a tax haven popular with Russian oligarchs", where at that time Rybolovlev placed almost all of his fortune. "In 2010, Rybolovlev buys 9.7% of the capital of Bank of Cyprus - the main shareholder of which soon becomes the American Wilbur Ross, now Trump's secretary of commerce."
American investigators also talk about "several possible rendezvous between Rybolovlev and Trump and his relatives."
For example, “it turned out that the planes (Trump and Rybolovlev) coexisted for several hours on the runway of the airport in Charlotte (North Carolina) on November 3, 2016.” “And if Trump flew there for the election campaign”, “then for a Russian oligarch this is a strange stop,” JDD emphasizes and claims “that Rybolovlev’s business jet flight patterns studied by American investigators demonstrate his short stops in Las Vegas, Burbank ( California) and Miami exactly at the moments when Trump stopped there.
In addition, “one date remains in question in 2016,” when Rybolovlev’s yacht “could have crossed paths with the yacht of Trump’s daughter and son-in-law on the Croatian coast.”
In turn, the White House assures that Trump and Rybolovlev have never met. A "environment Russian businessman limited to that,” which denies any rumors of any fraud in buying a villa in Florida.
An integrated approach to solving power supply problems Integrated energy solutions are a modern approach to creating autonomous power supply systems of the highest degree of complexity. Innovative technologies, accumulated many years of experience and a highly professional team are the synergistic effect of the success of ZVEZDA-ENERGETIKA JSC in the production of power plants. The St. Petersburg company "ZVEZDA-ENERGETIKA" was established in 2001 and today is one of the leaders in the industrial energy market in Russia and the CIS countries. The range of works and services provided by the company includes: . Development of design estimates for the construction of power plants and thermal power plants with a capacity of up to 200 MW, cable and overhead power lines up to 110 kV and above, distribution substations of all voltage classes, converter complexes, relay protection and automation devices, automated systems management technological processes thermal and electric power industry; . Manufacture of container power plants with a unit capacity of 50 to 2500 kW, including those with heat recovery; . Turnkey construction of stationary, block-modular power plants and thermal power plants with a capacity of up to 200 MW, cable and overhead power lines of 110 kV and above, distribution substations of all voltage classes, converter complexes, relay protection devices and automation, automated control systems for technological processes of thermal and electric power industry; . Performance of commissioning works; . Service maintenance power facilities; . Training of the customer's personnel; . Provision of power plants for rent; . Supply of spare parts to the customer; . Operation and support of the operation of power facilities; . Maintenance and repair of power plant equipment. Since 2001, ZVEZDA-ENERGETIKA JSC has produced more than 1500 power modules with a total electrical capacity of about 1340 MW and a thermal capacity of 204 MW Among our customers are GAZPROM OJSC, ROSNEFT OJSC, LUKOIL OJSC, ANK BASHNEFT OJSC, OAO SLAVNEFT, OAO Zarubezhneft, Energoatom Concern, Shell, OAO TRANSNEFT, TNK-BP, OAO Mosenergo, State Unitary Enterprise TEK SPb, regional generating companies, OOO Eurocementgroup, OAO Surgutneftegaz , concern "TOTAL" and many others. Geography of activity Covers almost all regions of Russia - from the Krasnodar Territory to Sakhalin Island. Our power plants operate in St. Petersburg, Moscow, Western Siberia, Chukotka and Yamalo-Nenets Autonomous Districts, the Republics of Sakha (Yakutia) and Komi, Astrakhan and Novgorod regions. ZVEZDA-ENERGETIKA JSC cooperates with leading domestic and foreign manufacturers of power equipment and components: Cummins, Wartsila, MTU, MWM, Kolomna Plant, Kawasaki, Hitachi, Dresser Rand, Siemens and others. Product quality ZVEZDA-ENERGETIKA JSC has a complete list of necessary certificates for its products and licenses for all types of work (services) performed. The Company's quality management system complies with the requirements of the international standard ISO 9001:2008. Products supplied to OAO Gazprom are certified. The company is included in the register of suppliers. The company has its own production site (about 18,000 m2), as well as a representative office in Moscow and service centers in Surgut, Nadym, Ukhta, Salekhard and Khabrovsk.
1. Description of JSC "ZVEZDA-ENERGETIKA"
2. Description of the industry
3. Assessment of the financial position of JSC ZVEZDA-ENERGETIKA
3.1 Analysis of property status
3.2 Solvency analysis
3.3 Financial sustainability analysis
3.4 Business analysis
3.5 Profitability analysis
4. Analysis organizational structure and legal form of JSC "ZVEZDA-ENERGETIKA"
5. Development of the accounting policy of JSC "ZVEZDA-ENERGETIKA" for 2011.
1. Description of JSC ZVEZDA-ENERGETIKA
The ZVEZDA-ENERGETIKA company was established in early 2001 by the teams of the Marketing and Sales Department of the St. Petersburg Machine-Building Enterprise OJSC Zvezda and the financial supply company Polymet. Since 1999, both teams have had experience in the production and supply of stationary and modular power plants based on diesel engines. The first contract for the supply of core products of JSC "ZVEZDA-ENERGETIKA" was signed on February 7, 2001 - this date became the official birthday of the company.
The first major project of the company was participation in the development of a program for the development of small-scale power generation in the Republic of Sakha (Yakutia) together with RAO UES of Russia. In August 2001, the ZVEZDA-ENERGETIKA company began cooperation with OAO Sibneft by signing an agreement for the supply of 11 power plants for the power supply of the Chukotka Autonomous District and 6 power plants for drilling rigs. In November of the same year, the company received the status of the official authorized dealer of Cummins Engine Company Inc. - the world's leading manufacturer of power equipment.
At the initial stage, JSC "ZVEZDA-ENERGETIKA" was an engineering company. The company developed at a rapid pace: production capacities expanded, leading engineers, designers and managers came to the team, experience in implementing complex projects appeared. And today, ZVEZDA-ENERGETIKA offers the implementation of integrated energy solutions in the field of small-scale power generation: from consultations of company specialists and the development of a feasibility study to post-warranty service and training of customer personnel.
For 8 years, ZVEZDA-ENERGETIKA has produced about 750 power modules and over 130 multi-unit power plants. Their total electrical power is about 600 MW, thermal power is about 75 MW.
2. Description of the industry
The role of energy in the global and domestic economy continues to grow, and at present energy is becoming the center of world politics. Russia has significant reserves of energy resources and a powerful fuel and energy complex, which is the basis for the development of the economy, an instrument for pursuing domestic and foreign policy.
Important industries of the Russian energy sector are the electric power industry, nuclear, fuel, geothermal energy, hydropower, bioenergy, etc. Currently, energy issues are regulated by the Energy Strategy of Russia for the period up to 2020, approved by Order of the Government of the Russian Federation of August 28, 2003 N 1234-r, federal law of April 3, 1996 N 28-FZ "On Energy Saving", the Federal Target Program "Development of the Nuclear Power Industry Complex of Russia for 2007-2010 and for the Future until 2015", approved by Decree of the Government of the Russian Federation of October 6, 2006 N 605, the General Scheme placement of electric power facilities until 2020, approved by the Decree of the Government of the Russian Federation of February 22, 2008 N 215-r. Decree of the Government of the Russian Federation of January 8, 2009 N 1-r approved the Main directions of state policy in the field of increasing energy efficiency power industry based on the use of renewable energy sources for the period up to 2020.
At present, the world energy market is fully under the pressure of the international financial crisis, competition is getting tougher, and the dependence of Russian exports on transit countries is becoming greater.
During the period of economic instability in the country, energy legislation needs to be further improved. The issues of energy efficiency and energy conservation, the creation of a new legislative framework international cooperation in the energy sector, the development of the Russian energy doctrine, the completion of a phased transition to a fully competitive electricity market, the improvement of the legal mechanism in the field of energy tariff regulation.
3. Assessment of the financial position of JSC "ZVEZDA-ENERGETIKA"
Based on the database of the first and second forms financial statements enterprises of JSC "ZVEZDA-ENERGETIKA" for 2007,2008 and 2009, I assessed the financial condition for 2007-2009. Were produced: analysis of the property status, analysis of solvency, analysis of financial stability, analysis of business activity and analysis of profitability.
The evaluation is presented in the form of tables of analysis and conclusions.
3.1 Analysis of the property status of the enterprise
2007
| Indicators | Absolute value | Specific gravity | Deviations | Change total | ||||
| (thousand roubles) | in % | absolute. | specific weight | to greatness. | balance | |||
| Start | the end | Start | End | large (thousand rubles) | in % | at the beginning of the year | in % | |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
| ASSETS | ||||||||
| I. NON-CURRENT ASSETS | ||||||||
| 1.NMA: | ||||||||
| Objects of intellectual property | 4 | 7 | 0,000454153 | 0,000401239 | 3 | -0,000052914 | 75 | 0,000347288 |
| including those with a patent for an invention, prom. | 4 | 7 | 0,000454153 | 0,000401239 | 3 | -0,000052914 | 75 | 0,000347288 |
| trademark | 71 | 71 | 0,00806122 | 0,00406971 | 0 | -0,00399151 | 0 | 0 |
| 2.OS: | 25483 | 35078 | 2,893296698 | 2,01066608 | 9595 | -0,882630619 | 37,65255268 | 1,110743243 |
| machines and equipment | 37832 | 51143 | 4,295381262 | 2,931509645 | 13311 | -1,363871617 | 35,18449989 | 1,540917489 |
| transport. Wed | 4091 | 7707 | 0,464485217 | 0,441764168 | 3616 | -0,02272105 | 88,38914691 | 0,418597975 |
| production and household inventory | 1433 | 1761 | 0,162700395 | 0,100940275 | 328 | -0,06176012 | 22,88904396 | 0,03797017 |
| other types of OS | 51 | 65 | 0,005790454 | 0,003725791 | 14 | -0,002064663 | 27,45098039 | 0,001620678 |
| 3. Profitable investments in mat values | 47836 | 67407 | 5,431218493 | 3,863759862 | 19571 | -1,567458631 | 40,91270173 | 2,26559208 |
| leased property | 52891 | 52891 | 6,005154639 | 3,031704761 | 0 | -2,973449878 | 0 | 0 |
| 4. Long-term financial investments | 139 | 139 | 0,015781825 | 0,007967461 | 0 | -0,007814364 | 0 | 0,341963058 |
| 5.deferred tax assets | 7471 | 10425 | 0,848244698 | 0,59755955 | 2954 | -0,250685148 | 39,53955294 | 0,341963058 |
| Total for Section I | 80967 | 113081 | 9,19285617 | 6,481787187 | 32114 | -2,711068982 | 3,717603804 | |
| II. CURRENT ASSETS | ||||||||
| 1.Stocks: | 477109 | 992846 | 54,17014851 | 56,90979459 | 515737 | 2,73964608 | 108,0962631 | 59,70311494 |
| raw materials, materials and other analogous values | 232307 | 512703 | 26,37574368 | 29,38806463 | 280396 | 3,012320953 | 120,7006246 | 32,45940202 |
| costs in progress Pr-ve | 137973 | 325599 | 15,66522095 | 18,66328938 | 187626 | 2,998068435 | 135,9874758 | 21,72009502 |
| finished products and goods for resale. | 89341 | 106269 | 10,14362596 | 6,091324295 | 16928 | -4,052301664 | 18,94762763 | 1,959631226 |
| goods shipped | 15470 | 29873 | 1,756437622 | 1,712316204 | 14403 | -0,044121418 | 93,10277957 | 1,667330373 |
| weekday expenses | 2018 | 18401 | 0,229120305 | 1,05474276 | 16383 | 0,825622455 | 811,8434093 | 1,896540547 |
| 2.VAT | 7381 | 29061 | 0,83802625 | 1,665772477 | 21680 | 0,827746227 | 293,7271372 | 2,509735644 |
| 3.Short-term.DZ: | 283150 | 513360 | 32,14837186 | 29,42572378 | 230210 | -2,722648083 | 81,30319619 | 26,64973444 |
| settlements with buyers and customers | 180772 | 362205 | 20,52454698 | 20,76154021 | 181433 | 0,236993225 | 100,365654 | 21,00317653 |
| advances issued | 31567 | 50213 | 3,584063763 | 2,878202174 | 18646 | -0,705861589 | 59,06801407 | 2,158511569 |
| Other | 70809 | 100942 | 8,039534039 | 5,785981396 | 30133 | -2,253552643 | 42,55532489 | 3,488277868 |
| 4.Short-term financial investments | 32 | 81179 | 0,003633226 | 4,653168986 | 81147 | 4,64953576 | 253584,375 | 9,393796971 |
| contributions to the management companies of other organizations | 33 | 0 | 0,001891555 | 33 | 0,001891555 | 0 | 0,00382017 | |
| securities | 70201 | 0 | 4,023911553 | 70201 | 4,023911553 | 0 | 8,126658301 | |
| granted loans | 32 | 903 | 0,003633226 | 0,051759834 | 871 | 0,048126609 | 2721,875 | 0,100829324 |
| deposits | 10042 | 0 | 0,575606043 | 10042 | 0,575606043 | 0 | 1,162489176 | |
| 5. Cash | 31441 | 14387 | 3,569757936 | 0,824660838 | -17054 | -2,745097098 | -54,2412773 | -1,97421733 |
| 6. Other current assets | 680 | 680 | 0,077206049 | 0,038977505 | 0 | -0,038228544 | 0 | 96,28228043 |
| Total for Section II | 799793 | 1631514 | 90,80714383 | 93,51815549 | 831721 | 2,711011662 | 103,9920329 | 96,28228043 |
| Balance | 880760 | 1744596 | 100 | 100 | 863836 | 0 | 98,07847768 | 100 |
| Comparative analytical balance sheet of JSC "ZVEZDA-ENERGETIKA" | ||||||||
| Indicators | Absolute value | Specific gravity | Deviations | Change total | ||||
| (thousand roubles) | in % | absolute. | specific weight | to greatness. | balance | |||
| Start | the end | Start | End | large (thousand rubles) | in % | at the beginning of the year | in % | |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
| LIABILITY | ||||||||
| III. Capital and reserves | ||||||||
| 1.UK | 72000 | 72000 | 8,174758163 | 4,127029983 | 0 | -4,047728181 | 0 | 0 |
| 2.Reserve capital | 71 | 71 | 0,00806122 | 0,00406971 | 0 | -0,00399151 | 0 | 0 |
| 3. Retained earnings | 14729 | 27939 | 1,672305736 | 1,601459593 | 13210 | -0,070846143 | 89,68701202 | 1,529225455 |
| Total for Section III | 86800 | 100010 | 9,855125119 | 5,732559286 | 13210 | -4,122565833 | 15,21889401 | 1,529225455 |
| IV.Long-term liabilities | ||||||||
| 1.Loans and credits | 92000 | 0 | 5,2734272 | 92000 | 5,2734272 | 0 | 10,65016971 | |
| Loans | 92000 | 0 | 5,2734272 | 92000 | 5,2734272 | 0 | 10,65016971 | |
| 2. Deferred tax liabilities | 5104 | 0 | 0,29256057 | 5104 | 0,29256057 | 0 | 0,590852893 | |
| Total for Section IV | 97104 | 0 | 5,56598777 | 97104 | 5,56598777 | 0 | 11,2410226 | |
| V. Short-term liabilities | ||||||||
| 1.Loans and credits | 80000 | 418730 | 9,083064626 | 24,00154534 | 338730 | 14,91848072 | 423,4125 | 39,21230419 |
| accounts payable | 713960 | 1128752 | 81,06181025 | 64,6999076 | 414792 | -16,36190265 | 58,0973724 | 0,007489837 |
| suppliers and contractors | 294343 | 574457 | 33,41920614 | 32,92779532 | 280114 | -0,491410822 | 95,16584393 | 32,42675693 |
| debt to staff | 151 | 254 | 0,017144284 | 0,014559245 | 103 | -0,00258504 | 68,21192053 | 0,01192356 |
| debt to the state extrabudgetary fund | 546 | 2184 | 0,061991916 | 0,125186576 | 1638 | 0,06319466 | 300 | 0,189619326 |
| debt on taxes and fees | 13179 | 23035 | 1,496321359 | 1,320362995 | 9856 | -0,175958364 | 74,78564383 | 1,140957311 |
| other creditors | 405742 | 528822 | 46,06726009 | 30,31200347 | 123080 | -15,75525663 | 30,33454757 | 14,24807487 |
| Subtotal for Section V | 793960 | 1547482 | 90,14487488 | 88,70145294 | 753522 | -1,443421937 | 94,90679631 | 87,22975194 |
| Balance | 880760 | 1744596 | 100 | 100 | 863836 | 0 | 98,07847768 | 100 |
2008
Preferential conditions for beloved customers - the owners of Baltinvestbank, their companies and relatives. Per last years These are billions of rubles. Meanwhile, there are dark spots in their credit histories.
Sergei Konkov/DP
Shareholders of Baltinvestbank have given billions of rubles to themselves and their companies in recent years. A number of their companies are not doing well with the repayment of loans, and some bad loans have long been forgotten. Fontanka studied the scale of lending to the bank's owners, which even the former shareholders of Tavrichesky could envy.
Most of Baltinvestbank's shares are directly or indirectly owned by Yuri Rydnik, Alexander Shvidak and Vadim Egiazarov. Rydnik is the most important banker of St. Petersburg in the era of the governorship of Vladimir Yakovlev. Under him, Baltoneximbank (the future Baltinvest) served most of the institutions and departments of Smolny. Shvidak is a Samara businessman, the son of the Honored Technologist of Russia Igor Shvidak, the "red director" of the Samara Bearing Plant. Egiazarov is a financier.
The scope with which the owners of the bank used its money (or rather, the money of depositors) could be envied even by the shareholders of Tavrichesky Bank. Some of the former shareholders and executives of the bank are now under investigation.
Loans to your
In addition to the bank, its shareholders have extensive business interests. They include the Volgaburmash Group holding, the Samara Bearing Plant, the St. Petersburg builder of electric power facilities Zvezda Energetika, and the Samara enterprise Volgaburmash, which manufactures drilling heads and other equipment for the oil and mining industries.
Zvezda-energetika took out the most loans from the bank. Annually - from two or three to five to ten loans of 100 million, sometimes 400 - 600 million rubles. Moreover, in many cases these loans were constantly extended. For example, in March 2014, the plant took 100 million for 30 days. In the future, a few days before the expiration of the loan, it was extended for a month: and so every time in April, May and June. And in July it was extended again, but for a period not specified in the statements.
In January 2015, the bank gave Zvezda-energetika a loan of 401 million rubles at a rate of 16% per annum. Credit institutions earn on the difference between the key rate of the Central Bank (at which they borrow money from him) and the rates at which clients are credited. At the time of issuing the loan, the key rate of the Central Bank was 17%, and it issued most loans to banks at 18%. Consequently, the loan to Zvezda-Energy at 16% was unprofitable for the bank. It is unlikely that at that time any of the ordinary clients-legal entities could boast of such benefits. After the December fall of the ruble, bank loans reached 25-30%.
Zvezda Energetika also regularly used Baltinvest's bank guarantees. They were issued mainly to ensure the orders of FGC UES, which were carried out by the company. Guarantee amounts - 6-8 million, 15 million rubles each. Some of them have been extended until January 2018.
Shareholders took loans for themselves and their relatives and friends. Moreover, in most cases, these loans were issued a few years ago, and now they are only extended each time for the future. Moreover, the bank's board of directors allowed shareholders to pay interest once a year, and the smallest penalties for possible delay were set - 0.1 - 0.3% daily of the overdue amount.
Yuri Rydnik annually borrowed 30-40 million rubles, including for the purchase of real estate and consumer purposes. He has an overdraft on the card (allowed to go into the red) in the amount of $ 401 thousand. He acted as a guarantor for loans from Mikhail Rydnik, president of the St. Petersburg Fencing Federation, adviser to the governor.
Vadim Egiazarov vouched for the loans of his acquaintance businessman Suren Oganov. Both Egiazarov himself ($60,000) and people close to him - Valery Egiazarov ($50,000) and Elina Egiazarova ($230,000) have large card overdrafts. In early November, when the bank had already suspended half of its operations, shareholder Yegiazarov took out a loan of 10 million rubles. Two weeks earlier, the Arbitration Court filed a lawsuit to declare bankrupt his road company Evroavtodor, which owed the same amount.
Hired managers were also credited in the bank - the head of the board Igor Kirillov, the financial director of the bank Inga Moiseenko, a member of the board of directors Sergey Dankanich together with his wife Olga. The joint loan of Sergei and Olga for 10 million was issued in 2011 and has been regularly renewed since then. It was extended again in 2014 until 2018. Dankanich's agency, Beta Real Estate, also received loans. In 2014, for example, the bank allowed the company to repay the loan at the end of the loan term (not indicated in the financial statements), and in February 2015 the company was excluded from the Unified State Register of Legal Entities. Beta Nedvizhimost, like Dankanich's Alfa Nedvizhimost (excluded from the Unified State Register of Legal Entities in 2012), were guarantors for the spouses' loans.
The port of Ust-Luga also has loans from Baltinvestbank, where Vadim Egiazarov sits on the board of directors.
Debt cancellation
Each bank assigns a loan quality category, which depends on how well it repays. The worse the category, the higher the reserve that the bank must send to the Central Bank. In the most hopeless cases, when it is clear that the borrower is unlikely to ever repay the money, 100% of the loan amount is reserved in the Central Bank. The bank periodically wrote off "bad" loans to offshore companies owned by shareholders.
In August 2014, the bank assigned claims on several borrowers who owed 354 million rubles to Plata Group Limited, a company owned by Alexander Shvidak. On the same day, the bank bought 0.9% of H.S.R.G. Holding Limited - one of the largest Novosibirsk food retailers "Holiday" (similar to the St. Petersburg "Pyaterochka"). Perhaps no one paid money to anyone, and the bank simply returned the reserve from the Central Bank, received shares and took them into account in its capital.
Similarly, the debts of other borrowers were written off. In August last year, Baltinvestbank gave part of the problem loans in the amount of 455.6 million to Seolfor Management Limited, owned by Vadim Egiazarov. Immediately, the bank bought shares of CMCR Management Ltd, the Akado telecommunications holding, for the same amount from the same offshore.
Not surprisingly, among the borrowers whose debts were written off, there were familiar faces. For example, the firm "Design. Advertising. Construction" throughout the entire period of its existence (2006 - 2013) belonged to Mikhail Rydnik. Her debt of 9.3 million was sold to Shvidak's Plata Group. Judging by the data of the arbitration court, the work on collecting this money is not going very intensively (there is not a single claim in the filing cabinet). And the bank itself, however, did not try to return them. In 2013, instead of going bankrupt, the company was excluded from the Unified State Register of Legal Entities as inactive.
But the written-off debts of another borrower - "Dorozhnik-92" - the bank did not disregard. Now, on its territory, the Euroavtodor company, owned by Yeghiazarov, operates on a leasehold basis. Until recently, the former leaders of Dorozhnik-92 worked in it. The bank also assigned part of its claims for 700 million to Euroavtodor. The company also regularly receives loans from Baltinvestbank, but this fact is not disclosed in its statements. Formally, the company belongs to an offshore company, and Egiazarov is only its beneficiary.
Bill schemes
A bill of exchange is a security in which it is written that the bank undertakes to pay a certain amount of money at a certain moment if the holder of the bill asks for this payment. Due to the difficulty of tracking the circulation of promissory notes through the hands of third parties in the 2000s, this type of securities was actively used by banks and their clients to cash out criminally acquired proceeds.
In 2005, the Bank of Russia overcame these schemes, but the practice of using promissory notes surfaced in 2014 for new reasons. The Central Bank declared war on bill schemes, which are now used as collateral for loans. “For 100 million rubles, a promissory note worth 1 billion, issued for 15-20 years on absolutely non-market conditions, is bought up,” Vasily Pozdyshev, deputy chairman of the Central Bank, cited an example in communication with the media.
The bill schemes of Baltinvestbank are hidden from the public eye, and only fragmentary transactions, when the bill is transferred to any of the parties connected with the bank, get into the reporting. The origin of the bill, its further movement and the moment of receipt of money on it are not reflected in the reports.
Nevertheless, even parts of these schemes, reflected in the reporting, raise many questions. Some of them seem to make no sense. For example, on November 28, 2014, the bank bought a promissory note worth 146.8 million from Seolfor Egiazarov. A few days later, on December 3, the bank sold the same promissory note to Seolfor for the same money.
Another curious example. The loans of the Volgaburmash plant, issued to him in 2011-2013, unexpectedly required additional collateral last year. This often happens due to a deterioration in the financial situation of the borrower or a change in the quality of collateral for these loans (for example, real estate has fallen in price, etc.).
In the summer of 2014, Egiazarov pledged a bill of exchange belonging to him, issued by Baltinvestbank, in the amount of 412.9 million rubles as collateral for these loans. A month later, the shareholder transferred the bill to the ownership of the bank, receiving in return 112.9 million and a new bill for 300 million. In other words, in one month the requirements for additional collateral decreased by almost 113 million. There is no reasonable economic explanation for this circumstance.
Volgaburmash, by the way, is under external control. If the court-appointed manager comes to the conclusion that the money and property of the plant is not enough to pay off debts, it will go bankrupt. At the same time, the loans issued to him by the bank are unlikely to be returned.
The Bank also regularly exchanged promissory notes with the Samara Bearing Plant and Zvezda Energetika. Moreover, these bills were issued both by the bank itself and by its industrial enterprises, and in some cases by third-party firms in general (for example, the Factor terminal in the Leningrad region, through which the timber of the North-West is exported to the Scandinavian countries). But it is impossible to understand the nature of these relations without a complete picture, which the bank did not want to disclose.