The 2016 public annual report (hereinafter the Report) of the ROSATOM Engineering Division discloses financial and non-financial results of the activities. The report is issued in Russian and English.
(GRI 102-52) The integrated annual report is issued on the annual basis. This report counts as the Division’s report No. 2 and JSC ASE EC’ report No. 9.
(GRI 102-51) The previous report was issued in 2016. For users’ convenience, this Report is issued both in hard copy, electronic and interactive format.
The Report is developed according to the following regulatory documents.
International standards and guidelines:
The RF regulatory legislation in the area of corporate and financial accountability:
ROSATOM Regulatory documents:
JSC ASE EC regulatory documents in the area of public accountability:
(GRI 102-54) This report has been prepared in accordance with the GRI Standards: Comprehensive option
(GRI 102-50) This Report summarizes the Division activities from 01.01.2016 till 31.12.2016.
The accounting data are provided as per the Division’s key companies: JSC ASE EC, JSC “Atomenergoproekt”, JSC ATOMPROEKT, JSC ASE (see Annex 1).
(GRI 102-45, 102-49) As compared to the previous reporting period, the consolidation scope has been changed. Starting from 2015, consolidated financial management indicators are generated on the basis of ten FRCs (Financial Liability Centers): JSC ASE EC, JSC ASE, JSC Atomenergoproekt and seven organizations within the management framework (ASE-Engineering LLC, NUKEM Technologies GmbH, NIAEP-Service LLC, Trest Rosspetsenergomontazh LLC, Nukem Technologies Engineering Services GmbH, JSC NIKIMT Atomstroy, JSC Energospetsmontazh).
(GRI 102-10) The ASE EC JSC management scope was extended to include an expert design company ATOMPROEKT JSC (St.-Petersburg).
The Report comprises target and estimated parameters in view of short-, mid- and long-term forecasts. The timing of plans/forecast disclosure in terms of separate indicators depends on the degree of confidentiality of information.
(GRI 102-32) The Report is approved by JSC ASE EC Board of Directors, Resolution of JSC ASE general shareholders meeting, JSC Atomenergoproekt Board of directors, resolution of JSC ATOMPROEKT sole shareholder.
In accordance with GRI Standards and International Integrated Reporting Framework, material topics were identified during the development of the Report. The works were performed as part of the communication with stakeholders based on Rapid Foresight technology that was held on 31.10.2016. Materiality foresight has been arranged in accordance with the GRI procedures for defining report content.
Before the meeting, the Company’s top management questioning was held with identification of the most significant topics. At the communication with stakeholders, the list of topics was updated and prioritized. Based on the meeting outcome, a materiality matrix was generated. Information about management approaches to material topics are provided in GRI Content Index.
The priority topics of the Report are defined by JSC ASE EC management and stakeholders' representatives in due course of material issues identification. The priority issues of the Report are such as: “Achievement of leading positions in project management, "Companies integration and establishment of Engineering Division”.
GRI Content index include information about 15 GRI disclosures as per material topics.(GRI 102-47, 102-49)
(GRI 102-56) An independent auditor was involved for verification of the non-financial information in the Report.
Independent assurance of the Report was performed by NP Consult LLC to check compliance against the comprehensive option of the GRI Standards.
When developing the Report, the auditor used managerial and audited financial statements of JSC ASE EC, JSC ASE and JSC “Atomenergoproekt” prepared in accordance with RAS. Audit of the accounting (financial) statements of JSC ASE EC, JSC ASE and JSC “Atomenergoproekt” was performed by Nexia Pacioli Consulting LLC.
The report was verified by JSC ASE EC Internal Control and Audit Department.
The Report was subject to public/stakeholder verification procedures aimed at check materiality and completeness of the reporting data and the Company’s response to stakeholders’ requests.
Conclusion on public verification is provided in section 3.3. Stakeholder engagement during the report preparation.
The Report was subject to public/expert verification by Russian regional network for Integrated reporting. Conclusion on public certification is provided in Annex 16.
The Report contains statements of forecast nature with regard to production, financial, economic, social and other indicators characterizing further development of the Company. Implementation of plans and intentions depends on the changing political, economic, social and legal situation in Russia and worldwide. In this connection, the actual performance results in subsequent reports may differ from the forecasted ones.