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I                  REPUBLICAN UNITARY ENTERPRISE
"MINSKAVTODOR-CENTER"
I                       Financial Statements
for the year ended 31 December 2016
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Contents
I         Independent Auditors' Report                               3
Balance Sheet                                               6
Income Statement                                            8
Statement of Changes in Equity                             10
Statement of Cash Flows                                    13
Notes to the Financial Statements                          15


I
KPMG, Limited liability company  Telephone  +375 17 372 72 57
57 Dziar2ynskaha avenue        Fax         +375 17 372 72 58
premises 53, office 53-2      Internet     wwwkpmg by
220089 Minsk Belarus
Independent auditors' report on financial statements of
RUE "Minskavtodor-Center" for the year 2016
To Shareholder,
General Director
Mr. N.N. Matsuyk,
Chief Accountant
Mr. A.V. Labkovich
RUE "Minskavtodor-Center"
37 Kalvariiskaya str.
Minsk, 220073, Republic of Belarus
Certificate of state registration is issued under ruling of
Minsk City Executive Committee on 14 July 2005
Registration number M2600921909
Out ref: 2306-03
We have audited the accompanying financial statements of RUE (Minskavtodor-Center>
(hereinafter - the Company), which comprise the balance sheet as at 31 December 2016,
the income statement, statement of changes in equity, cash flow statement for the year
ended 31 December 2016, and notes to the financial statements.
Management's responsibility for the financial statements
Management of the Company is responsible for the preparation and fair presentation of
these financial statements in accordance with the requirements of legislation of the
Republic of Belarus, and for such internal controls as management determines are
necessary to enable the preparation of financial statementA that are free from material
misstatement, whether due to fraud or error.
Auditors' responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with the requirements of Law of the Republic of
Belarus # 56-3 of 12 July 2013 <On auditing>> and Republican regulations on auditing.
Those requirements and regulations require that we comply with ethical requirements and
plan and perform our audit to obtain reasonable assurance whether the financial statements
are free from material misstatement.
KPMG. a Limited liabity company aid a member f rm of tne  Registered in Belarus  191434140
KPMG network of independent member f rms aff ated wth  Registered office 57 Dziarlynskaha av
KPMG International tooperative kCKPMG Internat anals), a  premises 53, office 53-2
Swiss entity                         220089 Minsk Betarus


An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor's
judgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the preparation and fair presentation of the financial
statements of the Company in order to design audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
CQmpany's internal control. An audit also includes evaluating the appropriateness of
accounting policies used and the reasonableness of accounting estimates made by
management of the Company, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our qualified audit opinion.
Basis for Qualified Opinion
We did not observe the counting of inventories stated at denominated BYN 19 524
thousand as at 31 December 2016, because we were engaged as auditors of the Company
only after that date. We were unable to satisfy ourselves as to those inventory quantities by
alternative means. As a result, we were unable to determine whether adjustments might
have been found necessary in respect of inventories as at 31 December 2016, and the
corresponding elements making up the income statement, statement of changes in equity
and statement of cash flows for the year then ended.
As at 31 December 2016 the Company has not maintained adequate accounting records
regarding illiquid inventories in the part of the cost of work in progress recognized in
previous periods in accounting records of separate subdivisions of the Company (road
operation offices). These costs will not be reimbursed in the coming years by means of
targeted financing. As at 31 December 2016 the amount of illiquid inventories is
denominated BYN 5 841 thousand, as at 31 December 2015 - denominated BYN 5 863
thousand. Our opinion on the financial statements as at and for the year ended 31
December 2015, dated 28 June 2016, was modified accordingly. Our opinion on the
current year's financial statements is also modified.
KPMG. a Limited liability cornpany and a member firm of the  Registered in Belarus  191434140
KPMG network of ndependent member firms affiliated with  Registered office. 57 Dziarlyinskaha ay
KPMG International Cooperative (-KPMG Iniernationalr, a  premises 53. office 53-2
Swiss enity                          220089 Minsk Be arus


Qualifted Opinion
In our opinion, except for the possible effects of the matters described in the Basis for
Qualified Opinion, the financial statements present fairly, in all material respects, the
financial position of RUE "Minskavtodor-Center" as at 31 December 2016, its financial
performance and its cash flows for the year then ended in accordance with the legislation
ohhe Republic of Belarus in respect of the preparation of the financial statements.
Vasyl Pavlenko         t      a
Deputy Audit D
Alexey Ulazov
Auditora
23 June 2017
Minsk, Republic of Belarus
LLC "KPMG"
Certificate of state registration is issued by
Minsk Municipal Executive Committee
under ruling of 10.02.2011, Registration number 191434140
This report is the English translation of the original Russian. In the event of discrepancies
between the two reports, the Russian version prevails.
KPMG, a Limited liabiLly company and a member firm of the  Registered in Belarus  191434140
KPMG network of independent member firms affiliated with  Registered office 57 Driarlyiskaha av
KPMG International Cooperative t-KPMG International-1, a  premises 53, office 53-2
Sw ss entity                                  220089 Minsk Belarus


to the NlLtioAl ALcounting
nod Reporing Standard
"Individual Accounting
Suainent"
BALANCE SHEET
As at 31 December 2016
Organisation                          RUE "Minskavtodor-Center"
Taxpayer's Registration Number         190638747
Activity type                         Consolidated
Organizational legal form
Governing body                        Ministry of Transport and Communications
Measurement unit                       BYN thsd
Address                               37 Kalvariiskaya str., Minsk
Date of approvalJ ________
Date of submission
Date of acceptance
Assets                                  As at 31 December 2016       215
code                               2015
1                                2              3                   4
I. NON-CURRENT ASSETS
Fixed assets                                                 110         3394531             3 126 154
Intangible assets                                            120           149                  43
Income-bearing investments into tangible assets              130
Including:
investment property                                    131
finance lease items                                    132
other income-bearing investments into tangible assets  133
Investments into non-current assets                          140          52 229              72 346
Long-term financial investments                              150
Deferred tax assets                                          160
Non-current receivables                                      170            15                  16
Other non-current assets                                     180           3016                3714
TOTAL for Section 1                                          190         3449940             3202273
II. CURRENT ASSETS
Inventories                                                  210          19524               23505
Including:
materials                                                211           6 166               6224
domestic animals being grown and fed                     212
work in progress                                         213          13356                17279
finished goods and goods for sale                        214            2                    2
shipped goods                                            215
other inventories                                        216
Non-current assets held for sale                             220
Deferred expenses                                            230           257                  132
Value-added tax on acquired goods, works, services           240           5 825               15 477
Short-term accounts receivable                               250          42870               32041
Short-term financial investments                             260                                34
Cash and cash equivalents                                    270            177                 623
Other current assets                                         280           2 182               1 591
TOTAL for Section II                                         290          70 835               73 403
BALANCE                                                      300         3 520 775           3 275 676
6


Equity and liabilities                        As at 31 December 21016  As at 31 December
CTpon                              2015
__ _ _ _ _ __ _ _ _ _ _ __ _ _ _ _ __ _ _ _ _ _ 2            3                   4
III. EQUITY4
Share capital                                                410          31 647              31 647
Unpaid share capital                                         420
Treasury stock                                               430
Reserve capital                                              440            Ill                 109
Additional paid-in capital                                   450         2960255             2916810
Retained earnings                                            460           1 704               1366
Net profit of the reporting period                           470  1
Special-purpose financing                                    480          72379               57863
TOTAL ror Section III                                        490         3066096             3007795
IV. LONG-TERM LIABILITIES
Long-term loans and borrowings                               510
Long-term liabilities on lease payments                      520
Deferred tax liabilities                                     530
Deferred income                                              540         433 955              253 083
Reserve for future expenses                                  550           618
Other long-term liabilities                                  560
TOTAL for Section IV                                         590         434573               253 083
V. SHORT-TERM LIABILITIES
Short-term loans and borrowings                              610           2003                1400
Short-term part of long-term liabilities                     620
Short-term accounts payable                                  630          18098                13398
Including:
to suppliers, contractors and executors                  631          14 422               10 133
received advances                                        632            24                  93
taxes and duties                                         633           987                 1 111
social security payable                                  634           616                  460
salary accruals                                          635           I 707               1 284
lease payments                                           636            24
to owners (founders, participants)                       637                                20
-to other creditors                                          638            318                 297
Liabilities held for sale                                    640
Deferred income                                              650            5
Reserve for future expenses                                  660
Other short-term liabilities                                 670
TOTAL for Section V                                          690          20 106               14798
BALANCE                                                      700         5 520 775           3275676
Director                                                                         N.N. Matvuk
(name)
Chief Accountant                                                                A.V.Labkovich
s    r                                                      (name)
7


Suppleimeni 2
to tic Nationnil Accouniing and
Reponing Standhil
"Individual Accouling
INCOME STATEMENT
For January-December 2016
Organisation                            RUE "Minskavtodor-Center"
Taxpayer's Registration Number          190638747
Activity type                          Consolidated
Organizational legal form
Goveming body                           Ministry of Transport and Communications
Measurement unit                        BYN thsd
Address                                37 Kalvariiskaya str.. Minsk
Item                               Item    As at 31 December 2016  As at 31 December 2015
code
1                                  2               3                       4
Revenue from sales of goods, products, works, services           010           53781                  47519
Cost of sales                                                    020          (47 125)                (40 818)
Gross profit                                                     030           6656                    6701
Administrative expenses                                          040           (4 154)                (4 524)
Selling expenses                                                 050
Profit (loss) from sales of goods, products, works, services     060           2 502                   2 177
Other operating income                                           070           49 983                  2 833
Other operating expenses                                         080          (51 050)                (3 887)
Operating profit (loss)                                          090            1 435                  1 123
Investment income                                                100           8013                     354
Including,
income from disposal of fixed assets, intangible assets and other non
current assets                                                 101            121                      12
income from participation in other organisations              102
interest receivable                                           103             2                       1
other investment income                                       104           7890                     341
Investment expenses                                              110           (7271)                   (30)
Including;
expenses from disposal of fixed assets, intangible assets and other
non-current assets                                             Ill            (82)                    (28)
other investment expenses                                      112           (7 1 89)                  (2)
Financing income                                                 120             19
Including.
exchange differences from translation of assets and liabilities
121             19
other financing income                                         122
Financing expenses                                               130           (1 284)                 (116)
Including:
interest payable                                              131            (233)                   (19)
exchange differences from translation of assets and liabilities  132         (926)
other financing expenses                                       133           (125)                   (97)
Profit (loss) from investment and financing activity             140            (523)                   208


Itecm                              Item
Code   A%S at 31 December 20  A5
Profit (loss) before taxation                                                           3
Income tax                                                     150            912                   1 331
160            48747
Chunge in deferred tax assets                                                                        477
Change in deferred lax liabilities
- 180
Other taxes, duties from profit (income)19
Other payments fmm proit (income)                                            -
Net profit (loss) (:L 150 - 160n 4- 170 ± 180 - 190 - 200      200            250                    126
(lossy.-                                               por     220                                  99506
Result from other operations not included in net profit (loss)  230
i             Comprehensive profit (loss) ( 210  220 * 230)                  240            400
Including comprehensive income from the revaluation of auo-roads  241I.10                              3
96832
-Basic earn ings (loss) per share
Diluted camigs (Voss),pe 250
Director
(Pname)
Chief Accountant
A.V.Labkovich
(name9


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Supplement 3
Wo dwe National Accounting and Rcporling
Slandani
"Individual Accounting Slatenent"
STATEMENT
of Changes in equity
For January-December 2016
Organisation                     RUE "Minskavtodor-Center"
Taxpayers Registration Number    190638747
Activity type  '                 Consolidated
Organizational legal form
Governing body                   Ministry of Transport and Communications
Measurement unit                 BYN thsd
Address                          37 Kalvariiskaya str., Minsk
Unpaid  Treasury     seain                        e   t
tem Item                   Share    share    stock    Reserve  Additional    earnings  Net profit  Total
code   capital  capital           capital paid-in capital (Accumul   (loss)
ated losses)
1                   2      3        4        5         6          7           8         9         10
Balance as at 31.12.2014          010   30000       -          -     106     2806016          908         -   2837030
Adjustment due to change in
as~~ino1     sx~020                 -       -                  -----
accounting policy
Adjustment due to errors correction  030    -                                        -   -     53         -   -    53
Restated balance as at 31.12.2014  040  30000       -          -     106     2806016          855         -   2836977
January-December 2015                                                                         750              305 247
Increase in equity - total
Including:
net profit                      051                                                -        744         -      744
revaluation of non-current assets  052    -       -          -        -        2 674          -         -     2 674
income from other operations not
included in net profit (loss)   053       -
issue of additional shares      054       -
increase of share premium       055       -       -          -        -         1 -                               -
contributions from owner
(founders, participants)        056    1 647      -          -        -            -          -         -     1 647
reorganisation                  057       -                                                                       -
other                           058       -       -          -        -      203 344          6         -    203 350
including social security       059       -                                  96832            -         -    96832
payments05                                 -       --                 -       9682--                          683
Decrease in equity - total        060       -       -          -       2       191 753        437         -    192 192
Including:
loss                            061       -
revaluation of non-current assets  062    -
expenses from other operations  063
not included in net profit (loss)
decrease of share premium       064       -
10


. Retained
Unpmid  Treasury                       Rtie
Item              Item    Share  Unaid      sury   Reserve  Additional  earnings  Net profit  Total
code   capital                   capital paid-in capital (Accumul  (loss)
ated losses)
1                  2      3       4        5        6         7           8         9        10
repurchase of shares (interest in
share capital)                 0
dividends and other income from
participation in share capital of  066  -
organisation *.                    I
reorganisation                067       -                                           -         -             -
other                          068      -       -         -       2      191 753       437        -    192 192
including social security     069                    -         -          -            -
payments
Change in share capital         070       -                                                -
Change in reserve capital       080       -       -         -       5           -   -      5
Change in additional paid-in capital 090  -       -         -       -   -     303        303        -         -
Balance as at 31 December 2015   100  31 647      -         -     109    2916810       1466         -   2950032
Balance as at 31.12.2015         110  31 647      -         -     109    2916810       1466         -   2950032
Adjustment due to change in
accounting policy
Adjustment due to errors correction  130  -                                     -   -    100        -   -   too
Restated balance as at 31.12.2015  140  31647     -         -     109    2916810       1 366        -   2949932
January-December 2016 Increase                                      1      150251        409             150661
in equity - total
Including:
net profit                     151                                -*                   400        -      400
revaluation of non-current assets  152  -                                                                   -
income from other operations not
included in net profit (loss)
issue of additional shares    154       *
increase of share premium      155      -
contributions from owner       156
(founders, participants)
reorganisation                 157      -       -         -                    .         -        -         -
other                          158      -       -         -       1      150251          9        -    150261
including social security      159                         -         -
nayvents
Decrease in equity - total       160      -                 -       -      106430        446        -    106876
Including:
loss                           161      -       -         -       -            -              -    .
revaluation of non-current assets  162  -       -         -       -            .                            .
expenses from other operations  163
not included in net profit (loss)
decrease of share premium      164      -
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. Retained
Unpaid  Treasury                       Rtie
Iteni              Iten   Share   share    stock   Reserve  Additional  earnings  Net profit  Total
code   capital capital          capital paid-in capital (Accuinul  (loss)
nWed losses)
1_                 2      3       4        5        6         7           8         9        10
repurchase of shares (interest in
share capital)                 165      -       -         -       -           -           .        .
dividends and other income from                                       -            --
participation in share capital of  166  -       -         .       -
oruanisation
reorganisation-                167      -
other                          168          -             -              106 430       446        -    106 876
including social security      169                         -
payments                                                                                                    -
Change in share capital         170       -
Change in reserve capital        180      -       -         -       1           -   -      1
Change in additional paid-in capital  190  -      -         -       -   -     376        376        -         -
Balance as at 31.12.2016        200   31 647      -         -     111    2960255       1 704        -   2993717
Director                                                                                     N.N. Matyuk
Chief Accountant                                                                            A.V.Labkovich
(name)


Suppkunni 4
In il. National Acounting und
Repoting Stuntlard
"tndividual Acuunting
S(Municnt"
CASH FLOW STATEMENT
For January-December 2016
Organisation                         RUE "Minskavtodor-Center"
Taxpayer's Registration Number       190638747
Activitylype                         Consolidated
Organizational legal form
Governing body                       Ministry of Transport and Communications
Measurement unit                     BYN thsd
Address                              37 Kalvariiskaya str., Minsk
Item                         Item   For January-December   For January-December
code           2016                  2015
I                            2              3                     4
Cash flows from operating activities
Cash inflow - total                                  020          62157                  53402
Including:
from customers of goods, products, works, services  021         23064                  14677
from customers of materials and other inventories  022            50                    42
royalty                                            023             0                     0
other receipts                                     024           39043                 38683
Cash outflow - total                                 030          62407                  54571
Including:
acquisition of inventories, works, services        031           36482                 30637
labour payments                                    032           13229                 12015
taxes and duties                                   033           5752                  6628
other payments                                     034           6944                  5291
Result from cash flows from operating activities     040           -250                  -1169
Cash flows from investment activities
Cash inflow - total                                  050          98768                  11423
Including:
from customers of fixed assets, intangible assets and other
051        6                      19
non-current assets
repayment of granted loans                         052             2                     3
income from participation in share capital of other
organisations
interest                                           054             0                     0
other receipts                                     055           98092                 11401
Cash outflow - total                                 060          97844                  13050
Including:
acquisition and creation of fixed assets, intangible assets
and other non-current assets
loans granted                                      062             0                     2
contributions to share capital of other organisations  063         0                     0
other payments                                     064           96755                 10711
Result from cash flows from investment activities    070            924                  -1627
13


Item                        Item    For Janunry-December  For January-December
cUde                                                      2016                  2015
1                            2             3                     4
Cash flows from financing activities
Cash inflow - total                                 080           5520                  3047
Including:
loans and borrowings                              081           5500                  1400
issue of shares                                   082             0                     0
contributions from owner (founders, participants)  083            0                   1647
other receipts                                    084            20                     0
Cash outflow - total                                090           6640                   597
Including:
repayment of loans and borrowings                 091           4900                    0
payment of dividends and other income from        092            567                   556
interest payment                                  093            217                   19
lease payment                                     094             0                     0
other payments                                    095            956                   22
Result from cash flows from financing activities   100          -1120                 2450
Cash flows for the reporting period                 110           -446                  -346
Balance of cash and cash equivalents                120            623                   969
As at 31 December 2015
Balance of cash and cash equivalents                130            177                  623
As at 31 December 2016
Effect of exchange rate change                      140           -907                    0
Director                                                                 N.N. Matyuk
(name)
Chief Accountant                                                         A.V.Labkovich
(name)
14


I
Notes to the financial statements
1. RUE ,MinskavtodorCenter> consists of 13 divisions (Road Operation Office (ROO) 5, 6, 60,
61, 62, 63, 64, 65, 66, 67, 68, 69 and SD-I (Specialized Department-1), which are not legal entities
and have separate bank accounts and taxpayer's registrations numbers.
The objective of the Company's activity is maintenance of appropriate operational conditions of the
net of republican highways being on the balance of the Company. The scope of operations of the
Company is maintenance and repair of the highways being on the balance of the Company, as well
as buildings located on them.
According to the accounting policy of RUE <Minskavtodor-Cente) for 2016 the revenue from
sale of products, goods, services in 2016 was 64 534 thousand rubles, VAT - 10 753 thousand
rubles.
Cost of sold goods, products, services amounted to 51 279 thousand rubles, including
administrative expenses amounted to 4 154 thousand rubles.
Profit from sales of products, goods, works, services amounted to 2 502 thousand rubles.
Profitability of sales of products, goods, works, and services was 4,9 %.
Net profit for 2016 amounted to 400 thousand rubles, including (by branch offices):
ROO-5   -        18 thousand rubles
ROO-6   -        10 thousand rubles
ROO-60 -         42 thousand rubles
ROO-61 -         80 thousand rubles
ROO-62 -          0 thousand rubles
ROO-63 -          0 thousand rubles
ROO-64 -         45 thousand rubles
ROO-65 -        149 thousand rubles
ROO-66 -          0 thousand rubles
ROO-67            0 thousand rubles
ROO-68 -          0 thousand rubles
ROO-69 -          I thousand rubles
SD-1    -       55  thousand rubles
Administration -  0 thousand rubles
In the reporting period the accounting records were kept in accordance with accounting policy
approved by the Company. The accounting records are automated by means of accounting
software.
The original cost of fixed assets as at 31 December 2016 amounted to 3 438 750 thousand rubles
(appendix 1).
2. The depreciation is accrued using straight-line method based on depreciable (net book) value of
fixed assets, determined useful lives of items involved in business activity, or standard useful lives
of items which not involved in business activity, set by the Classifier of Fixed Assets approved by
Decree No. 161 of the Ministry of Economy of the Republic of Belarus dated 30 September 2011.
The useful lives are determined by the Commission for depreciation policy within the period stated
in Annex No. 3 to Instruction No. 37118/6 (as amended by Instruction No. 162/101/45 dated 30
September 2011).
15


The useful lives are determined by the Commission taking into account the influence of aggressive
environment, rotation, and other deviations from set basic modes of operation.
The amount of accumulated depreciation was:
As at 31 December 2015 (thousand rubles)  As at 31 December 2016 (thousand rubles)
36541                                    44219
Amortization expenses for the highway M-14 "Second Ring Road around the city of Minsk" for
2016 amounted to 6 615 thousand rubles.
In the reporting period the original cost of fixed assets changed:
- construction of the second Ring Road (1st stage - the works were transferred to the favorable
period, 2nd stage) in the amount of 167 620 thousand rubles;
- the reconstruction of the P-23 highway "Minsk-Mikashevichi" km 74-83 1t line, km 83-92 2nd
line, km 92-102 3d line in the amount of 84 997 thousand rubles;
- the following works on the coverage strengthening during the implementation of the dynamic
weighing system were performed:
Highway MI/E30 Brest (Kozlovichi) - Minsk - border of the Russian Federation km 392,5 in the
amount of 433 thousand rubles, km 309,100 in the amount of 433 thousand rubles;
Highway M-2 "Minsk - National Airport" km 29,9 in the amount of 433 thousand rubles;
Highway M-4 "Minsk - Mogilev" km 28,0 in the amount 433 thousand rubles, km 95,4 in the
amount of 433 thousand rubles;
Highway M-6 "Minsk-Grodno-border of Poland Republic" km 52,5 in the amount of 433 thousand
rubles;
- completed capital repairs of highway M/E30 <Brest - Minsk (Kozlovichi) - border of the
Russian Federation> km 294,2 - km 294,45 2 line in the amount of 617 thousand rubles, km 366 in
the amount of 152 thousand rubles, km 310 which amounted to 431 thousand rubles;
- completed capital repairs of highway P-40 "Borovliyany - Logoisk" km 0 - km 6,5 IV line in the
amount of 189 thousand rubles, I line which amounted to 7 722 thousand rubles;
- completed capital repairs of the bridge through the river Servech highway P-29 "Ushachy -
Vileika" km 119,212 which amounted to 1 039 thousand rubles;
- completed capital repairs of highway P-28 "Minsk - Molodechno - Naroch" km 61,253 - 71,112
(2 line) in the amount of 4 097 thousand rubles;     I I
- 4 gratuitously received patrol cars for monitoring of pavement, which amounted to 559 thousand
rubles;
- gratuitously received expenses, incurred during parking lot construction on highway "access to
Dzerzhinsk, km 7,300 on the right side from UE <<Dzerzhinsky marketw in the amount of 2
thousand rubles;
- gratuitously received expenses, incurred during the construction of the access to highway P-58
"Minsk- Kalachi- Miadzel" in the amount of 97 thousand rubles;
- completed works of operating repairs and maintenance of highways which amounted to 14 185
thousand rubles;
- gratuitously received plant and equipment in the amount of I thousand rubles, machinery and
equipment in the amount of 779 thousand rubles, transport in the amount of 1 615 thousand rubles;
- purchased at own funds amounted to 956 thousand rubles.
As at 31 December 2016 fixed assets pledged amounted to 2 969 thousand rubles.
The original (revalued) value of fully depreciated assets available at the end of reporting period is
12 009 thousand rubles.
16


I
Due to opening of the road M-14 "Second Ring Road around the city of Minsk", the costs that will
be transferred to operators in the year 2016 amount to 3 143 thousand rubles-
3. As at 31 December 2016 the original (revalued) value of intangible assets amounted to 163
thousand rubles ( appendix 2).
Amortization of intangible assets is charged by the straight-line method based on the amortizable
amount of the object.
As at 31 December 2015 the accumulated amortization amounted to 5 thousand rubles, the accrued
amortization for the reporting period amounted to 9 thousand rubles.
During the reporting period no impairment amounts were recorded as expenses recovered in
income and (or) additional paid-in capital.
4. During the reporting period the investment properties were not leased out. Investment properties
were not disposed in the reporting period. There are no investment properties included into
inventories or operating property.
5. Upon receipt the materials are evaluated at book prices using account 16 "Deviation in prices of
materials".
Supplier's price (purchase price) is applied as book price.
During the reporting period the inventory was not written off Inventories were not pledged as
collateral.
6. Accounts receivable repayment of which is due within 12 months after the balance sheet date as
at 31 December 2015 was 32 041 thousand rubles, as at 31 December 2016 - 42 870 thousand
rubles.
Accounts receivable, including loans for housing construction repayment of which is due in more
than 12 months as at the end of the previous year amounted to 16 thousand rubles, as at the end of
the reporting period - 15 thousand rubles, including: 15 thousand rubles - loans for housing
construction.
As at the beginning of the reporting period;
Item 170                Item 250
Indicator               (of balance sheet)      (of balance sheet)
Customers and clients                     0                      1 957
Suppliers and contractors                 0                     29 053
Taxes and duties                          0                       361
Settlements with employees                0                        67
Different debtors                         0                       315
Other accounts receivable                 16                      288
As at the end of the reporting period:
17


Item 170                Item 250
Indicator                 (of balance sheet)    (of balance sheet)
Customers and clients
o                     1 806
g          Suppliers and contractors                  0                    3961
Taxes and duties                                                             - 91
.o                              494
Settlements with employees                0                        69
Different debtors
Other accounts receivable                 1                        3
15                      347
Amount of allowance for doubtful accounts as at the end of the previous year was 9 thousand
rubles, the allowance for doubtful accounts as at the end of the reporting period is 15 thousand
rubles. During the reporting period, accounts receivable were not written off against allowance for
doubtful accounts.
As at 31 December 2016 the amount of accounts receivable was 42 885 thousand rubles, as at 31
December 2015 - 32 057 thousand rubles, the increase was 10 828 thousand rubles. Including
overdue accounts receivable as at 31 December 2016 in the amount of 889 thousand rubles, as at 31'
December 2015 - 927 thousand rubles, decrease - 38 thousand rubles.
In the reporting period, expire accounts receivable were written off in the amount of I thousand
rubles, including DEU-64 in the amount of I thousand rubles.
As at 31 December 2016 the amount of accounts payable was 18 063 thousand rubles, as at 31
December 2015 - 13 333 thousand rubles, increase was 4 730 thousand rubles. Including overdue
accounts receivable as at 31 December 2016 in the amount of 3 133 thousand rubles, as at 31
December 2015 - 3 175 thousand rubles, decrease - 42 thousand rubles.
7. The amount of investments in securities of OJSC "Savings Bank "Belarusbank" in the form of
cash at the end of the previous year was 0,3 thousand rubles, as at the end of the reporting period is
0,3 thousand rubles.
Amounts of loans granted to other entities as at the end of the previous year amounted to 34
thousand rubles. As at the end of the reporting period loans granted to other organizations were
amounted to 0 thousand rubles.
8. During the reporting period the Company has received means of the investment fund of the
Ministry of Transport and Communications in the amount of 674 thousand rubles on the object
"Reconstruction of the transport infrastructure of the highway M-4" Minsk-Mogilev km 31- km 41.
9. During the reporting period the Company did not use long-term loans and borrowings.
As at 01 January 2017 the Company had an existing bank loan in the amount of 2 000 thousand
rubles.
In September 2016 the Company has received a loan in the form of revolving credit line for the
period of 2 years with a maximum amount of a one-time debt in the amount of two million BYN
for the payment of salaries and equivalent payments taking including the income tax, mandatory
insurance contributions to the The Ministry of Labour and Social Protection of Population of the
Republic of Belarus and insurance premiums for compulsory insurance against accidents at work
and occupational diseases.
During the reporting period interest received in the amount of 233 thousand rubles, was payed - 217
thousand rubles.
18


The brunch DEU-69 received a commodity loan in thc amount of 19 thousand rubles, which was
partly paid in the amount of 16 thousand rubIes, the balance is 3 thousand rubies.
10.   Other operating income for the reporting period amounted to 49 983 thousand rubles,
including:
Income                                Amount in
thousand rubles
Item 070 "Other operating income"
1  Sale and acqujisition of inel2                                          2
OthR etrnatngepenss fror thel reotn peio amune to 51 050 thusn rubIes including:hw;II50
3  Rentals                                                            in
4  Services of boiler-house for water heati
1  Scal af entsin conrnctio wihmri4e7it0f hl'~23
6  Donated inventory       w
7  Insurance compensationon
8    iolation of the terms of n rais i  fines) w
Mas Cmucturlovnts sorves, trapnsers tolbr8no
90 Co    sio of rentin  ro erte                                          56
10 aoactor doutfu acout
Othe Neatin Social e Secrth Fund, in peGS o amutdt1646husnuls,icuig
Amount in
ensesthousand rubles
12 Soapmticn                 wida,urs                                     222
509
S o ci l  p y m e ts  i  co nec io n   ith m ed cal  rea m en ,  p u ch129o
3   m e i c i e s , w i t   a   i f f c u l t fi n n c i l   s t u a i o n1 1
One-time ~ ~ ~ ~ ~   ~     ~    ~   ~    ~   ~~4 023e o  niesais ncnetonwt  eieet
11 Side r)ation  of  ant  511 et
12  s  la rar  tesets,soteet,tas rs olb run n
13 Clas ot reimbuereets1
Otherlopeatnexpe for  the rpotin pe6daone1o100tosnrbe,icuig
12~~~mon inneaceo  P
1 23


13 Maintenance of housing stock                                             28
14 Write off of accounts receivable                                          1
15 Return materials from stripping of highways                            509
16 Expenses on realization of inventories                                1 624
17 Laboratory services                                                      59
18 Depreciation of fixed assets not involved in entrepreneurial activities  24
19 Mobile services                                                           6
20 Reimbursement of loss, damage                                            27
Depreciation of gratuitously received fixed assets not involved in
21 entrepreneurial activities                                               28
22 Voluntary insurance                                                      14
23 Expenses not related to business                                         40
24 Services of machinery under collective agreement                          4
25 Additional tax charge regarding report                                   25
26 Penalties for breach of contracts, the state duty, fines                 90
27 Fines and indexation of payments for electricity                        214
28 Maintenance of base "Parus"                                             108
29 Administrative fine on toll roads                                        15
30 Services of boiler-house for water heating                                I
31 Representation costs                                                      3
32 Housing and utilities services                                           II
33 Voluntary sale of foreign currency                                   47003
Sponsorship for the association of road building veterans, financial
34 assistance for treatment                                                 28
Investment income for the reporting period amounted to 8 013 thousand rubles, including:
Income                                 Amount in
thousand rubles
Item 100 "Investment income"                                           8 013
including
1 Item 101 "Income on disposal of fixed assets"                            121
Write off of fixed assets                                               121
2 Item 103 "Interest receivable"
Interest receivable                                                       2
3 Item 104 "Other investment income"                                      7890
Insurance compensation for road accident                                 45
Depreciation of gratuitously received fixed assets                      680
The value of the registered property                                    550
Depreciation of highway                                                6615
Investment expenses for the reporting period amounted to 7 271 thousand rubles, including:
20


Expenses                                Amount in
thousand rubles
Item 110 "Investment expenses"                                          7 271
Including:
I Item 111 "Expenses from disposal of fixed assets"                          82
Expenses from disposal of fixed assets                                     82
2  Item 112 "Other investment expenses"                                    7 189
Expenses from mechanical material repairmen after road accident            26
The value of disposed fixed assets                                        548
Depreciation of highway                                                 6615
Financing income for the reporting period amounted to 19 thousand rubles.
Income                                 Amount in
thousand rubles
Item 120 "Financing income"                                                19
1 Exchange differences from translation of foreign currency accounts          19
Financing expenses for the reporting period amounted to 1 284 thousand rubles, income:
Expenses                                Amount in
thousand rubles
Item 130 " Financing expenses                                           1 284
Including:
1 Item 131 "Interest payable"                                               233
Interest for use of short-term loans                                      233
2  Item 132 "Exchange differences"                                           926
Exchange differences from translation of foreign currency accounts        926
3  Item 133 "Other financing expenses"                                       125
Interests on the loan of RUE "Belorusneff - Minskoblnefteprodukt"        125
There are no other income and expenses for the reporting period.
There are no income or expenses from goods exchange transactions for the reporting period.
21


The changes have been made to form No. I "Balance sheet", form No. 2 "Income statement", form
No. 3 "Statement of changes in equity", form No. 4-f "Cash flow statement' (notes arc
accompanied).
General Director                                      N. Matyuk
Chief Accd  ant                                     A.V. Labkovich
22


Notes to separate lines of forms to the financial statements:
Form No. I "Balance sheet" was changed on 31 December 2016 due to correction of errors:
Line code                                      Adhstments to column 4
of tle                           Amount,
No.      form     Name                 thousan rubles                Contents
1       120      Intangible assets          -A
120  nta gibl   as ets   8          A ustm ent ofrexpenses  on  m ine  start u
2       190      Total for section 1         -8                     Adustment
3   .   211      Inventories, including
Materials                  -15                                    Is
Adjustment - costs will be gradually
4       230      Deferred expenses                       treated at the expense of increasing the
22                value of intangible assets
5       290      Total for section II                               Adjustment
6       300      Balance                     IAdjustment
10d630 atabln46-aconts wal be gaml
Adjustment s  ad i e aouto
62      700         Balance-iAutmt
Ad1tmutstocoum            nt
Linetainedofarniunt,
No7    h form     Name                thaousandtonII-4 rubesConetsnpoi
Deferred income,                       deAdjustment ofreue, fied st
9      540,590   Total for section IV                        ation  it    re   ceed
Short-term accountsyer204ad01
10       630      a able                    46             Untimely recording of short-term
including                                        accounts payable
to suppliers,
contractors and
10.1     631      executors                  20         Increase of account payable to su pliers
Adjustment is made in the amount of
10.2 633 taxs an duies-16calculated real estate tax for 2013-
10.2 633 taxs an duies-162015r.r., profit tax
Adjustment is made in the amount of
10.3 637 to oner              20deductions of a part of the profit of a
10.3 637 to oner             20uniary enterpris
The amount of reimbursement to the
10.4 638 to ohercredtor        22budget is transferred from account 68 to
10.4 638hercredtor          22account 76
11 69       otlfoiection V            46                      AdjutmeI
12       700           Balance               -1                     Adiustment
Form No. 2 "Income statement" for January-December 2016 Was corrected due to correction of
Line code of                              A      djnt  Afustments to column 4
No.     the form   Name                 thousand rubles               Contents
Adjustment of revenue, due to
I  20 Costof ales*]6recalculation with decrease of completed
20   Cot ofsale     .16works
2        210      Netprofit                 -16        1Decrease in net profit due to errors found
23


Form No. 3 "Statement of changes in equity":
on line 010 <<Balance as at 31.12.2014)) of column 8 is necessary to reflect 908 thousand rubies due
to correction of errors for year 2013;
on line 030 «Adjustment due to errors correction>> of column 8 «Retained earnings>> due to
correction of errors for year 2014 reflected (53) thousand rubles;
on line 040 <Restated balance as at 31.12.2014>> of column 8 «Retained earnings> is necessary to
reflect 855 thousand rubles;
on lin  051 <<Net profit> of column 9 <<Net profit (loss)>> due to correction of errors for year 2016
16 thousand rubles., is necessary to reflect 744 thousand rubles;
on line 130 <<Adjustment due to errors correctiom> of column 8 <Retained earnings>> due to
correction of errors for 2015 reflected (100) thousand rubles.;
on line 140 <Adjusted balance as at 31.12.2015>> of column 8 <Retained earnings> is necessary to
reflect 1366 thousand rubles.
Form No. 4-f (cash) "Statement of resources structure" due to correction of errors including data on
column 2 on lines:
Was recorded      To be recorded
line 001 <<Non-current assets>>      3 202 281          3 202 273
line 006 «Intangible assets                 54                 48
Initial value >
line 007 <<Intangible assets                51                 43
Residual value)
line 013 <<Current assets>>             73 403             73 403
line 014 <<Materials>>                   6240               6224
line 021 <<Assets -Total>>           3 275 678          3 275 676
line 022 <<Equity>>                  3 007 944          3 007 795
line 023 «Long-term liabilities>      252 982            253 083
line024 <<Short-term liabilities>      14 752             14 798
24


Presence and movement of fixed assets                              Appendix I
for January-December 2016
Organisation                            RUE "Minskavtodor-Center"
Activity type                                 Consolidated Organizational
legal form
Measurement unit        BYN thousand
Received
Original                              Including                             Original   Range of
(revalued)                                                                 (revalued)  estimated
Item         cost as at 31                                                     Disposed  cost as at 31 useful lifes
December     Total       Purchase                                          December    (from and
2015       amount    (gratuitously                                       December      to)
transferred  Modernization  Revaluation              2016
and other)
2                3           4           5             6             7           8           9          10
ncluding:              3 119555     353929       98714        255215                     80179     3393305
onstructions
including:
residential building       56                                                              10         46
public roads
3 078 595    352 060     96 845        255 215                   77974     3352681
transmission devices      5 529       387         387                                 1   452        5464
machines and
aquipment                24 452       3 230       3 230                                   2 828      24 854
:ranspon vehicles        12835        3396        3396                                    1436      14795
:ools, inventory, fixture
ind fittings              324          17          17                                      9          332
Livestock
perennial plants
CAPEX into land
improvement
other fixed assets
as at 31 December 2015                as at 31 December 2016
Depreciation of fixed421
Issets                               36541                                 44219
Loss of fixed assets
value                               1 384 812                             1 472 904
4cquired depreciation                                                      8 719
tom January-December                   X
1016
wVrite-off depreciation                                                    2 996
f disposal fixed assets               X
n the reporting period
25


Presence and movement of intangible assets                          Appendix 2
for January-December 2016
Organisation                                   RUE "Minskavtodor-Center"
Activity type                                  Consolidated Organizational
legal form
Measurement unit                                BYN thousand
Original                                           Original     Pange of estimated
(revalued) cost.(rvle)csasRneoesmad
as at 31       Acquired          Disposed      (revalued) cost as  useful lifes (from
as at 31             ~at 31 December                     anto
Item              December 2015                                          2016            and to)
2                      3              4                5                 6
1      Intangible assets - total                 48            115                 163
1.1    Including: property rights
to
industrial properties
1.2    Property rights to scientific,
literary and artistic works
1.3    Property rights to objects of
related rights
1.4    Property rights to software and            I              2                                    3
computer databases
1.5    Property rights to the use of
intellectual property resulting
from license and authorship
agreements
1.6    Property rights to the use of             45            113                                  158
natural resources, land
1.7    Other                                      2                                                   2
as at 31 December 2015     as at 31 December
2      Amortization of                             5                        14
intangible assets
3      Accrued    amortization  for                                         9
January-December 2016                       X
4      Written off amortization on
disposed intangible assets in the           X
reporting period
26