News

News

Views 1611

BSW has prepared IAS consolidated statements for 2013.

Open Joint Stock Company "Byelorussian Steel Works - management company of "Byelorussian Metallurgical Company" holding" has prepared IAS consolidated statements for 2013, which was audited by E&Y (IООО «Ernst&Young») — one of the leading specialized companies of this branch.

Consolidated statements contain information about a group, united 47 subsidiaries and associated companies; parent company for them is BSW. Their profile is varied from research work to billets, from production to steel production wholesale.       

   As for the main results of group functioning for reporting period, its operating profit in 2013 was 84 166 thousands Euro, it is 3,4 times more than in 2012. Profits before taxation increased 1,7 times and achieved 51 971 thousands Euro. Total return for 2013 was 5 342 thousands Euro.

   For more than 10 years Byelorussian steel works has been preparing and providing statements, made in correspondence with demands of International standards and conclusions of famous worldwide auditing companies to International financial Institutes and other interested organizations. Involvement of such competent experts guarantees qualitative and timely audits of consolidated statements reliability and assists to unconditional acceptance of the document by business partners.

   Use of consolidated statements of OJSC "BSW - management company of "BMC" holding", made in correspondence with IAS and audits necessity is first of all stipulated by the fulfillment of agreements conditions about credits (Credit Agreements) providing with foreign and Byelorussian banks, demands of foreign partners for further development of mutually beneficial cooperation and attraction of financing and investments. 

Back

Share