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VOLGA GROUP:COMPANY OVERVIEW
One of the leading investors in Russia
Volga Group is one of the largest investment Groups in Russia• Total consolidated Revenue of all portfolio companies US$116 billion• Total number of Employees in all portfolio companies approximately 90,000 people
Volga Group has investments in 18 core companies mainly in Russia
The Group contributes significantly to the Russian economy and its development
Volga Group is investment strategy seeks to maximise shareholder and stakeholder return
• Stakeholders include employees, customers, suppliers and the communities in which the Group’s companies operate
Volga Group promotes good corporate citizenship, socialresponsibility and environmental awareness
1. Consolidated at 100% equity stake for all portfolio companies. Volga does not own 100% equity stakes in all portfolio companies.
1
Focus on Long-TermConsistent Returns
Volga Group investment policy is based on value-driven assets that produce consistent, long-termreturns with a focus on Russia
Three strategic core areas are Energy, Logistics and Infrastructure
The Group seeks to add value by itsdisciplined approach and focus on:
• Best in Class Management Practices and Corporate Governance
• Working with the Board and Management to define the right Strategy
• Developing Synergies and Partnerships to grow the Businesses
Volga Group consistently considersopportunities that offer long-term,attractive and stable returns that are in line with its investment policy
Gennady Timchenko - Founder and Shareholder
Key events
More than 25 years of experience in the Russian and global energy sector
Professional investor and entre-preneur
Active philanthropist and sports-man
Born in 1952 in Gumry (former Leninakan)
Master of Electromechanical Engineering degree, Leningrad Mechanical Institute (1976)
Began his career at the Izhorsky plant (Leningrad region)
During the 1980s and early 1990s, served in private and public sectors, including as senior engineer at the Leningrad Department of the Ministry of Foreign Trade and as deputy CEO of state-owned Kirishineftehimexport
Relocated to Finland as Deputy CEO of trading company Urals Finland Oy (1991)
In 1997, together with partners started the energy trading company Gunvor, now one of the world’s largest integrated commodity trading houses
In 2003 founded Transoil LLC, now the leading private rail freight operator specialising in oil and products transportation in Russia
During last decade, made a number of strategic investments, including significant stakes inNOVATEK, SIBUR, Stroytransgaz
Established Volga Resources Group in 2007 to consolidate and manage his investments
Member of the Board of Directors of SIBUR, NOVATEK
Assets Geography – Investing Across Russia
InternationalForeign projectsGermany
Sakhatrans
Novatek (23%), Petromir (50%),IGSS (13%), Kolmar (60%*)*consolidated stake with Gunvor Group
Three Core Areas – Energy, Logistics& Infrastructure
Sibur (37,3%), Stroytransgaz (80%),Rorvik Timber (79%*)*consolidated stake with Gunvor Group
Sogaz (12,5%), SOVAG (49%),Bank Rossiya (8%)
Russian Sea Group (30%),Aquanika (100%)
Gunvor (44%), Transoil (80%),Sakhatrans (89%), A-Group (100%)
ENERGY & MINING
TRADING &LOGISTICS
INDUSTRIALS &CONSTRUCTION
CONSUMER GOODSFINANCIAL SERVICES
Energy & Mining
Petromir (50% stake)• Petromir holds the license for the Angaro-
Lenskoe gas field in Irkutsk region
NOVATEK (23% stake) • Russia’s largest independent and second largest natural gas producer in Russia after Gazprom• Exploration, production, processing and marke ing of natural gas and liquid hydrocarbons• 2012 gas production of 57.3 bcm, liquids produc tion - 4.3 mmt• As of year end 2012 total SEC proved reserves of 12,394 mmboe, resulting in reserve to produc tion ratio of 31 years• Listed on the London Stock Exchange and MICEX
www.novatek.ru
Kolmar MC (60% consolidated stake with Gunvor Group)
• Coal company with 975mt of high-quality coking coal reserves in Yakutia
IG Seismic Services (13% stake) • Land and transition-zone seismic company, primarily servicing clients in Russia and the CIS• Created in 2011 by combining seismic assets of Geotech Holding, Integra and Schlumberger• Listed on the London Stock Exchange
www.igseis.com
23%NOVATEK
60%Kolmar
13%IGSS
50%Petromir
Trading & Logistics
Gunvor Group (44% stake)• One of the world’s largest independent commodity trading companies • Integrated trading products and logistics services worldwide• Main trading offices are in Geneva, Singapore, Nassau and Dubai, with a network of representative
offices around the globe• Stakes in coal mining operations, refinery assets, pipelines and oil storages and terminals
www.gunvorgroup.com
Transoil (80% stake)• Largest private companу specializing in the transportation of oil and oil products in Russia
with total fleet of 34,782 tank cars• Focus on strategic routes for transporting oil and oil products, including exports to China,
Mongolia, Finland, the Baltic states, the CIS and Eastern Europe• 56mt of oil and oil products transported in 2012• Network of representatives and branches covers 11 regions of Russia
www.transoil-spb.ru
Sakhatrans (89% stake)• Greenfield construction of a bulk coal export terminal in Muchke Bay (Russia’s Far East)• Construction is planned for 2013-2016• Initial planned capacity of 10mt per annum with expansion to 24mt per annum by 2018
44%Gunvor
80%Transoil
89%Sakhatrans
Trading & Logistics –A-Group
Avia Group (74% stake)• Own and operate infrastructure for Business Aviation at Sheremetyevo International Airport, Moscow• Services include aircraft maintenance, handling, de-icing and aircraft storage services for air ambulances, private, and corporate aviation, organizational support services for flight opera tions and passenger services
www.avia-group.su
Avia Group Nord (70% stake)• Avia Group Nord provides full scope of managing services for business-aviation flights in Pulkovo International Airport, Saint Petersburg
www.ag-nord.ru
Airfix Aviation (99% stake) • Largest full-service Scandinavian private jet operator• Provides complete range of aircraft management down to single charter flight sale• In-house Flight Operations Control manages all operational and technical matters• Own flight planning department and mainte nance services
www.airfixaviation.fi
74%Avia Group
70%Avia Group
Nord
99%Airfix
aviation
Industrials &Construction
SIBUR Holding (37.3% stake)• Largest integrated gas processing and petrochemicals company in Russia and CIS and Central and Eastern Europe• Purchases associated petroleum gas and liquid hydrocarbon feedstock from major Russian oil and gas compa nies and processes them into energy products and various petrochemical products• Sells to around 1,500 customers in the energy, automotive, construction, retail and other industries in 60 coun tries• Owns and operates 27 production sites across Russia and employs approximately 31,800 people
www.sibur.com
Stroytransgaz (80% stake)• Major player in the Russian construction industry• Projects in the oil, gas, electric power and other industrial and civil industries• Operates in nine regions of Russia and fourteen countries around the world• Holds minority stakes in Arks and Most through affiliates
www.stroytransgaz.com
Rörvik Timber (79% consolidated stake with Gunvor Group)• Processing and selling timber products to customers in the industrial, commercial and the DIY markets in Sweden, Europe, Middle East and North Africa• Based in Huskvarna, Sweden and operates 7 sawmills in southern Sweden with total production capac ity of approximately 950,000 cbm per annum• Listed on the Stockholm Stock Exchange
www.rtimber.se
37,3%SIBUR
79%Rörvik Timber
80%Stroytransgas
25%ARKS
25%SK MOST
Financial Services
SOGAZ Insurance Group (12.5% stake)• One of the largest universal Insurance Companies in Russia• More than 600 branches across Russia
www.sogaz.ru
Sovag AG (49% stake)• German non-life insurance company offering motor, fire risk and property insurance as well as cargo, marine, aviation and transportation insurance for corporate and retail clients in Western Europe and the CIS• Founded in 1927, Sovag is headquartered in Hamburg and has offices in Cologne, Berlin, Vienna and London
www.sovag.de
Bank Rossiya (8% stake) • Universal financial and credit institution offering full range of banking services to corporate and individual clients
www.web.abr.ru
12,5%SOGAZ
49%SOVAG
8%
BankRossiya
Consumer Goods
Russian Sea Group (30% stake)• Leading Russian consumer food company specializing in the wholesale and distribution of chilled and frozen fish and seafood products• Vertically integrated organisation comprising two key business divisions: Chilled & Frozen (Russian Fish Com pany) and Fish Farming (Russian Sea Aquaculture)• Founded in 1997 and listed on MICEX
www.russianseagroup.ru
Aquanika (100% stake)• Aims to become a leading Russian high quality mineral water and soft drinks producer• Production plant is located in Nizhny Novgorod region• Equipped with the latest Krones AG facilities and has six bottling lines with overall production capacity of 585m litres per annum
www.aquanika.com
30%Russian Sea
100%AQUANIKA
VOLGA GROUP:Organization Structure
Volga Advisors – Exclusive Advisorto Volga Group
Volga Advisors is the exclusive advisor to Volga Group
• Offices in Moscow and Geneva • 17 professionals with expertise across different disciplines• Flat organisation – no bureaucracy• Team and result oriented corporate culture
Key principles include:
• Focus on audit and financial control• No operational involvement in portfolio companies• Good Corporate Governance• Establish effective Board and Board Committees that include experts in various fields• Work with the Board and Management to define the right strategy for the portfolio companies• Ensure good Management and Management Structure• Invest in Management Training and Development
Volga Advisors – Organizational Chart
Volga GroupBoard of Directors
Volga Advisors
Shareholder& Family Board
Assets /M&A
FinancialControl
Finance /Treasury
HumanResources
Legal PublicRelations
Chief Executive Officer
Volga Advisors
125284, Moscow, Begovaya st. 3/1+7 495 777 3898