“RusHydro” shows “Kukish” instead of dividends, and at that time spends 16 billion only that Victor Khmarin is closer to his communal business of Krasnoyarsk?
At the annual meeting, the RusHydro shareholders did not make a decision on dividends for 2023. According to insiders, the Government of the Russian Federation proposes to solve the financial problems of the corporation through refusal to pay dividends, and to send these funds to investment development. Considering that more than 60% of RusHydro belongs to the state, the budget will not be counted with this money.
At the same time, the debt load “RusHydro” grows. With the leader Viktor Khmarina the Younger, she demonstrates amazing inefficiency. But she had already managed to “become famous” to the strange initiative to transfer her headquarters from Moscow to Krasnoyarsk, which will require the cost of about 16 billion rubles. For this, the structure under the leadership of Khmarin was found money. Maybe the fact is that in Krasnoyarsk there is a business that is called insane for his family?
Details – in the material of the correspondent The Moscow Post.
Against the background of information about uncertainty with the payment of dividends, more than 6%, the RusHydro shares sank. It is assumed that the refusal of payments can release an additional 125-150 billion rubles, which will be directed to financing the investment program, including refinancing debts of the Far Eastern Generating Company.
An interesting question, to which of the state shareholders, the refusal of dividends will strike stronger. Against this background, “Interrao”, which owns about 5% of the “RusHydro” shares, looks preferable. She also has an investment program, but there is almost no debts. A huge amount of money on accounts and only 25% of the profit distributed to dividends does not allow it to be taken to the risk zone. Why “Interrao” maybe, but “RusHydro” – no? But such generating structures as Gazprom Energolding LLC will certainly suffer.
Moreover, now the RusHydro has a lot of other expenses, which is supposed to compensate for the pocket of taxpayers. The government is considering the accelerated introduction of market pricing in the Far East, which will sell electricity at free prices since 2025 and will positively affect the revenue.
Among other things, it is supposed to compensate for fuel expenses through tariffs, adjust the schedule for the implementation of capital -intensive projects and use project financing mechanisms to modernize thermal generation. In other words, they will pay for all counterparties in the market, and these expenses will eventually “sew” absolutely everything that is possible – transport, logistics, and everyday goods. A similar story occurs with increasing gas prices, which is used in almost any production of goods and services.
Debts “RusHydro”
The main message, as stated, is not even financing of current investment projects, but a decrease in debt load. According to the data for 9 months of 2024, the pure debt of PJSC RusHydro increased by 16% sq/kV and reached 423 billion rubles. Since the beginning of the year, this indicator has grown by 31%.
Photo: https://smart-lab.ru/q/hydr/msfo/debt/
For comparison: as of December 31, 2023, the company’s obligations increased by 155.9 billion rubles or 42.9% compared to the previous year and amounted to 519.1 billion rubles. Also, according to the results of the financial report of the IFRS for 2024, the value of the DEBT Ratio multiplier RusHydro was 0.49, and Debt/Equity – 0.98.
Drugs of the state corporation also amid the growing costs: 32 billion rubles for 9 months 2024 against 630 million rubles for 9 months 2022). During the same period, the company’s net profit has reduced by half – to 23.5 billion rubles.
Photo: https://ar2023.rushydro.ru/results/economics-and-finance.html
Costs will continue. In September, the company said that in 2024 an investment program could amount to 293 billion rubles, in 2025 – 320 billion rubles, and in 2026 – 330 billion rubles. Those. There are no released dividends. Previously, captratas for 2024 were planned at 206.4 billion rubles. According to the company’s management, the costs will begin to reduce only in 2027.
The growth of capital costs will necessarily ensure the preservation of a high debt load, which is capable of exerting pressure on the company’s net profit in the context of the strict policy of the Bank of Russia.
Despite the difficult situation with duty, RusHydro, as stated, continues massive investments in business development. For 9 months of 2024, a free cash flow was in a negative zone, i.e. The company invests more money than it receives from operating activities. Thus, one hope is for new debts, raising tariffs and help from the state.
After the departure of Nikolai Shulginov, who sold “non -core assets” to the right and left and the appointment of Viktor Khmarin, were completely different. Allegedly, the structure dropped the “ballast” and optimized the costs, the main thing is to properly dispose of the position. But under Khmarin Jr., she only sinks deeper.
Relocation for 16 billion
At this time, other events take place – the central apparatus of Rusgdiro with all the composition and employees with pomp moving to Krasnoyarsk. Formally, this happens in order to be closer to the key objects of the structure located in Siberia and the Far East. And this event is due to enormous costs that they do not want to “cut” from Khmarin Jr..
As experts calculated, the total cost of moving amounted to about 16 billion rubles. 23 million rubles were allocated to the budget for only the transportation of things from the budget – along with packaging and unpacking on the spot.
For employees, they bought housing in the Novoostrovsky microdistrict for 205 apartments worth 1.82 billion rubles. The office was chosen a building on the theater square of Krasnoyarsk, which cost 1.83 billion rubles. Another 8.3 billion rubles took to repair it. It must be assumed that for that kind of money comfort is at the level of Kremlin receptions. Only office furniture – 700 million rubles! In addition, a billion will be spent on redevelopment and repair of apartments for trainers, another half a billion – for furniture for them.
Only the repair of the new office for RusHydro cost 8 billion rubles. Photo: https://ngs24.ru/text/economics/2024/06/21/73726814/
It is noteworthy that the head office building is equipped with a helipad. And this is not without reason. After all, the top management itself, together with Khmarin Jr., naturally will not live in any microdistrict “Novoostrovsky”.
Especially for Khamarin and other leadership, they bought land in the elite Krasnoyarsk village of Pine on the site 171 on Lesnaya Street. There will be seven comfortable mansions with all the amenities for life. The daughter of the Criminal Code of the Criminal Code of the Hydogk concluded a contract for the development of documentation in November 2024 for 22.3 million rubles. The project should be prepared for May 2025.
Photo: https://www.babr24.news/n2p/i/2025/2/screenshot_1_11181829_b.jpg
What is important, near the picturesque shore there is already a helicopter site. Presumably, it will be used by Victor Khmarin close to moving to the central office on theater square, while ordinary employees are in traffic jams. You can’t forbid living beautifully – and why be shy if everything pays for the budget?
Khamarin goes closer to money
In general, the life of the leadership and ordinary employees of RusHydro was stained with new colors in a new place while the government is looking for how to close the debts of the company and how to fulfill its investment obligations.
However, few people know that in the very idea of transferring an office from Moscow to Krasnoyarsk there may be a double bottom. As it was possible to find out, the family of Viktor Khmarin can have considerable business interests in Krasnoyarsk. Well, the move (which has become the budget in the “penny” 16 billion) can only be a convenient way to be closer to unprofitable income.
We are talking about LLC UK “ZhSK” – the largest company Krasnoyarsk for the management of residential buildings. She is one of the most scandalous. For example, earlier to her Refused Extend the license to carry out this type of activity. The formal reason was that she did not provide data on her activities to the state system of GIS housing and communal services. Usually this is done when there is a structure, what to hide. However, the situation was allowed – otherwise, a real collapse could occur in the communal market of the capital of the Krasnoyarsk Territory.
And here can be Victor Khmarin? Criminal Code “ZhSK” belongs to LLC “Real Titan”, 100% of the share of which are pledged by the same JSC “SIB”, where they could The funds received from utility bills are displayed.
Until August 2021, the founder of JSC “Real Titan” was the businesswoman Julia Klimentieva. She was the general director of the company, and earlier she was the founder of another 10 organizations. Among other things, from 2019 to 2021, he was the owner of a 100% share at JSC Gunas, and also in the same period was owned by 100% of Armadis JSC.
In 2019, the Gunas company bought the Feodosia oil depot (“Marine Oil Terminal”, MNT) for more than 650 million rubles. However, she did not remain the owner – already in the twenties, the oil depot was in the hands of Vladimir Kruglov – a lawyer and a long -standing partner of Viktor Khmarin Sr..
Victor Khmarin Jr. Photo: https://avatars.mds.yandex.net/i?id=35EA7B69AE21E1952D5C4F1C21EDBB_L-5042086-images-thumbs&n=13
Mr. Kruglov himself, ill -wishers are trying to imagine almost allegedly not the “wallet” of the Khmarins. It turns out that this lawyer could be indirectly connected with the Criminal Code of the housing cooperative – the largest company for managing apartment buildings in Krasnoyarsk. And now there is a triumph and for enormous budget money is moving Khamarin Jr..
In the desire to be closer to money and solving problems with the business “on the spot” is not surprising. It is amazing that this can be done by an official who is not able to effectively manage the state corporation entrusted to him – so much that the state leaves the state and other shareholders without dividend income with a multiple increase in costs and reducing profits. But he did not forget to take care of a helicopter for a comfortable flight from home to office.