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TENEX Reveals Preliminary 2016 Results from Growing Portfolio

In the period under review the Company completed 66 deliveries to customers in fifteen countries exceeding USD 2 billion, with four deliveries performed through Vostochny seaport. The second year running the Far Eastern transport corridor has been used on a regular basis for uranium products deliveries to foreign customers.

The Company signed an amendment to the material account agreement with a European fabricator that stipulates sending UF6 containers for washing and maintenance to the Russian Cylinder Services Center inaugurated in 2016 based on the JSC UEIP, which would shorten the timeframe of uranium deliveries to foreign customers.

To promote a new business in the back-end area, the Company has been throughout the year waging an active dialog with the Japanese partners to formulate an inventory of prospective directions of cooperation and create a mechanism for management of joint projects. On December 16, 2016 in Tokyo in the presence of the President of the Russian Federation V.V. Putin and Prime Minister of Japan S. Abe, the State Corporation for Atomic Energy Rosatom, Ministry of Economy, Trade and Industry of Japan and Ministry of Education, Culture, Sport, Science and Technologies of Japan signed a Memorandum on cooperation in peaceful uses of nuclear energy which was prepared on the initiative and with direct involvement of TENEX. Signing the Memorandum paves the way to combining the efforts of Russian and Japanese companies in overcoming the consequences of the accident at Fukushima Daichi NPP, and jointly finding new approaches and solutions essential for safe and efficient development of nuclear energy and alternative sources of energy.

With the purpose of promoting trading activities at competitive foreign electric energy markets, the JSC Atomenergopromsbyt has been transferred to the Company configuration in 2016.

In September 2016 Intercertifica-TÜV jointly with TÜV Thüringen e.V. carried out a comprehensive audit of TENEX management systems compliance with the requirements of the international standards DIN EN ISO 9001:2008, DIN EN ISO 14001:2004 and ISO 28000:2007. Based on the audit results the existing certificates validity was prolonged till 2017.

In the period under review the total volume of the Company’s procurements non-related to nuclear materials purchases exceeded Rubles 3.2 billion, of which the share of competitive purchases reached 96.97 percent. Use of competitive procedures allowed the Company to save Rubles 295 million.

Within the framework of the activities aimed at optimizing the structure of the borrowed funds maturity aimed at reducing the interest expenses, the Company repaid in advance the syndicated loan TENEX obtained in 2015 from a group of foreign banks.