Financial Results Analysis

The Company’s revenue in the reporting period was the combined income from the following types of activities:

Name of the indicator, RUB mln	2010	2011	2012	2013	2014	2015FThe forecast of 2015 indicators was brought into accordance with the business plan that had been approved by the Company.
Revenue from sales	26,669	30,849	31,169	42,050	44,262	39,448
Production costs	25,145	27,781	28,129	38,293	40,030	35,911
Gross profit	1,524	3,067	3,040	3,757	4,232	3,536
Commercial expenses	25	30	29	474	487	90
Management expenses	776	819	900	889	853	951
Profit on sales	724	2,218	2,112	2,394	2,892	2,495
Balance of other income and expenses	–1,071	–1,258	–1,689	–1,661	–3,421	–1,636
Profit before tax	–348	960	423	733	–529	859
Profit taxation	459	552	361	433	91	291
Net profit	–807	408In 2012, retrospective adjustments were made for the purpose of correction of accounting statements for recognition of deferred tax liability relating to the provision for doubtful debt resulting in the increase in the balance of deferred tax liabilities with the relevant effect on the financial result of 2011 which amounted, with the adjustments made, to RUB 411 million.	62	300In 2014 retrospective adjustments were made for the purpose of correction of accounting statements for recognition of deferred tax liability relating to the provision for doubtful debt resulting in the increase in the balance of deferred tax liabilities with the relevant effect on the financial result of 2013 which amounted, with the adjustments made, to RUB 275 million.	–620	568