saaqcio sazogadoeba “Telasi” - Georgian Stock Exchange

jgufi Rss “inter rao ees”saaqcio sazogadoeba “Telasi”damtkicebuliasaaqcio sazogadoeba “Telasis”aqcionerTa saerTo krebis mier30 ivnisi 2009 w.oqmi # 30 ivnisi 2009 w.winaswar damtkicebuliass “Telasis” sameTvalyureo sabWos mier26 ivnisi 2009 w.oqmi # 26 ivnisi 2009 w.sameTvalyureo sabWos Tavmjdomare____________________ a.e. vagneriwliuri angariSi2008 wels SesrulebulisamuSaos Sedegebis mixedviTgeneraluri direqtorii. pimonoviekonomikisa da finansebisdireqtorie. s. oganesiani1

7.4. saoperacio da arasarealizacio Semosavlebi da xarjebi . . . . . . . . . . . . . . . . . . . . . . 517.5. fuladi saxsrebis moZraoba . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 527.6. debitoruli da kreditoruli davalianebis dinamika da analizi . . . . . . . . . . . . . . . . . 537.6.1. debitoruli davalianeba . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 537.6.2. kreditoruli davalianeba . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 537.7. sazogadoebis saangariSo periodis buRaltruli balansi . . . . . . . . . . . . . . . . . . . . . . 547.8. angariSi mogebisa da zaralis Sesaxeb. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 547.9. efeqturobis ZiriTadi maCveneblebi. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 557.10. cvlileba mmarTvel organoSi. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 567.11. sakadro da socialuri politika. socialuri partnioroba. . . . . . . . . . . . . . . . . . . . . 57Tavi VIII. sawarmos sakuTrebaSi arsebuli fasiani qaRaldebis sabazro riski . . . . . . . . . . . . 59Tavi IX. finansuri angariSgeba . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59Tavi X. sawarmos mier mowveuli auditoris Secvla . . . . . . . . . . . . . . . . . . . . . . . . . . . 60Tavi XI. mmarTveli organos wevrebi da sxva mniSvnelovani Tanamdebobis pirebi. . . . . . . . . . . 6111.1. ss “Telasis” sameTvalyureo sabWo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6111.2. sazogadoebis aRmasrulebeli organo . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6411.2.1.informacia generaluri direqtorisa da aRmasrulebeli direqciis wevrebis Sesaxeb . . . 65Tavi XII. sazogadoebis xelmZRvanelTa Sromis anazRaureba . . . . . . . . . . . . . . . . . . . . . . . . 67Tavi XIII. pirebi, romlebic floben an akontroleben saerTo krebis xmaTa 5 an met procents . 67Tavi XIV. dakavSirebuli mxareebi da urTierToba . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69Tavi XV. mdgomareobis damadasturebeli da mimdinare angariSebi . . . . . . . . . . . . . . . . . . . . 7015.1. angariSi mogebisa da zaralis Sesaxeb . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7015.2. sabuRaltro balansi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7115.3. reestridan amonaweri. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7315.4. auditoris daskvna buRaltruli (finansuri) angariSgebis Sesaxeb . . . . . . . . . . . . . . . 74xelmowerebi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 763

Tavi I. sawarmos saqmianoba1.1. zogadi cnobebi1.1.1. sazogadoebis mokle istoriaTbilisis eleqtroqseli (“Tbileleqtroqseli”) dafuZnda 1937 wels, ori funqciiT –teqnikuri da komerciuli, romlebsac akontrolebda Tbilisis saqalaqo sabWo. “Tbileleqtroqseli”eleqtroenergias iRebda generaciis erTi obieqtidan – zahesidan, romelic aSenda goelro-s gegmisSesabamisad.1965 wels ssrk energetikisa da eleqtrifikaciis saministros gadawyvetilebiT“Tbileleqtroqselis” komerciuli funqciebi gadaeca saqenergos. Tumca, am periodSi aRiniSnafuladi saxsrebis Segrovebis mniSvnelovani Semcireba da 1968 wels komerciuli funqciebi isevgadaeca “Tbileleqtroqsels”.1973 wels gamanawilebeli qseli gayofil iqna 10 nawilad, Tbilisis administraciuli(raionuli) dayofis Sesabamisad. Semdeg daemata me-11 raioni.1993 wlis 7 oqtombridan “Tbileleqtroqseli” gaxda Tbilisis saqalaqo sabWosTanarsebuli municipaluri sawarmo.saaqcio sazogadoeba “Telasi” dafuZnebulia “mewarmeTa Sesaxeb” saqarTvelos kanonis,saqarTvelos respublikis ministrTa kabinetis 1993 w. 14 aprilis № 228 dadgenilebis«saxelmwifo sawarmoTa da saxelmwifo sawarmoTa gaerTianebebis saaqcio sazogadoebebad gardaqmnisSesaxeb” da Tbilisis saxelmwifo qonebis marTvis departamentis 1998 wlis 6 maisis №1-3/188brZanebulebis Tanaxmad. saqarTvelos mTavrobas, saqarTvelos saxelmwifo qonebis marTvissaministros saxiT, da AES Silk Road Holdings B.V.-s Soris 1998 wlis 21 dekembers dadebuli “ss“Telasis” yvela aqciaTa samocdaTxuTmeti procentis nasyidobis” xelSekrulebis Sesabamisad, AESkorporaciam SeiZina saaqcio sazogadoeba “Telasis” aqciaTa 75%. 2003 wlis agvistoSi bolomflobelma - AES korporaciam, mihyida aqciaTa paketis 100% finur kompanias – saaqcio sazogadoebaRAO Nordic Oy, romlis erTaderTi aqcioneri aris Rss “inter rao ees”.sazogadoeba axorcielebs saqmianobis Semdeg ZiriTad saxeobebs:● eleqtrogasaReba (Sesyidva da gayidva);● sawarmoo-teqikuri saqmianoba (eleqtroqselebis momsaxureba daeqspluatacia);● eleqtroenergiis tranzitTan dakavSirebuli momsaxureba;● abonentTa teqnikuri momsaxureba;● bilingis da gadasaxadebis akrefis momsaxureba gare servisis organizaciebisaTvis.momxmarebelTa momsaxureba da eleqtroqselebis eqspluatacia xorcieldeba erTbiznescentrSi, abonentTa momsaxurebis 16 centrSi, 2 servis-centrSi, fuladi saxsrebisSegrovebis 4 damatebiT punqtSi da 14 saeqspluatacio raionSi, romlebic ganTavsebulia qalaqisyvela administraciul centrSi. zemoaRniSnuli obieqtebis ganlageba warmodgenilia rukaze.1.1.2. konkurentuli garemo da riskis faqtorebiss “Telasis” saqmianobis ZiriTad saxeobas warmoadgens momxmarebelTa eleqtroenergiiTmomarageba da qseluri momsaxurebis (eleqtroenergiis gadacemis) ganxorcieleba TbilisSi.amitom, amJamad ss “Telass” ar gaaCnia konkurentebi, maTi gamoCena arc uaxloes momavalSiamosalodneli. sazoadoebis saqmianobaSi SesaZlebeli riskebia:dargobrivi riskebi. tarifebis dausabuTebeli saxelmwifo regulirebis riski. riski,romelic dakavSirebulia saqarTvelos energetikis da wyalmomaragebis maregulirebeli erovnulikomisiis (sewmeki) mier iseTi tarifebis dawesebasTan, romlebic ar aris adekvaturisazogadoebis xarjebTan. kompaniaSi mimdinareobs gegmiuri muSaoba sewmek-Tan, mocemuli riskiswarmoqmnis aRkveTis mizniT.4

qveynisa da regionaluri masStabis riski. qveynisa da regionaluri masStabis risks ekuTvnissaqarTvelos kanonmdeblobis, sagadasaxado politikis, saxelmwifo regulirebis pirobebiscvlilebasTan dakavSirebuli riski. saangariSo periodis ganmavlobaSi sagadasaxadokanonmdeblobaSi ar yofila Setanili iseTi cvlilebebi, romlebic gavlenas moaxdenda ss“Telasis” finansur mdgomareobaze. TbilisSi da mTlianad saxelmwifoSi bolo wlebisganmavlobaSi Camoyalibebuli politikuri da ekonomikuri stabilurobis gaTvaliswinebiT,sazogadoeba ar dgas qveynisa da regionaluri masStabis raime mniSvnelovani riskis winaSe.amJamad, saqarTvelos kanonmdeblobis, sagadasaxado politikis, saxelmwifo regulirebispirobebis sazogadoebisaTvis negatiuri cvlilebis winapiroba ar arsebobs. Tbilisis ekonomikuriganviTareba, romelic gavlenas axdens ss “Telasis” sameurneo-finansur saqmianobasa daoperaciebis rentabelobaze, ZiriTadad, sasikeToa.SesaZlo SeiaraRebul konfliqtebTan, sagangebo mdgomareobis SemoRebasa da gaficvebTandakavSirebuli riskebi regionSi ar arsebobs.regionis geografiul TaviseburebebTan dakavSirebuli riskebi Sefasebulia rogorcumniSvnelo, stiqiuri ubedurebebis gazrdili safrTxe ar arsebobs. am riskebis Sesamcirebladenergetikuli kompleqsis Semowmeba, avariis, katastrofebisa da stiqiuri ubudurebebisSedegebisgan dacvis organizeba mudmivad xorcieldeba.finansuri riskebi. sazogadoeba Tavisi saqmianobis procesSi eqvemdebareba finansuri riskissxvadasxva faqtorebs: ucxouri valutis kursis cvlilebas, saprocento ganakveTis cvlilebas,sakredito xelSekrulebebis pirobebis daucvelobis CaTvliT.• saprocento ganakveTis cvlilebasTan dakavSirebuli riski. arsebiTad, Semosavali dasaoperacio naRdi fulis moZraoba ar aris damokidebuli sabazro saprocento ganakveTiscvlilebebze. sazogadoeba saprocento risks eqvemdebareba saprocento ganakveTiani grZelvadianikreditebis sabazro Rirebulebis meryeobis Sedegad. bazarze sazogadoebis poziciebis gamyarebasaWiroebs mniSvnelovan damatebiT sainvesticio dabandebebs. sakuTari sainvesticio moTxovnebisdasakmayofileblad, sazogadoebas Wirdeba damatebiTi dafinansebis mozidva. bazarze saprocentoganakveTebis zrdam SeiZleba migviyvanos iqamde, rom sazogadoeba iZulebuli iqneba moizidosufro ZviradRirebuli saxsrebi sakuTari sainvesticio programis da mimdinare saqmianobisdasafinanseblad. Tu sazogadoeba ver SeZlebs miiRos sakmarisi saxsrebi komerciuladxelsayreli pirobebiT, igi SeiZleba iZulebuli gaxdes Seamciros ganviTarebisaTvis gankuTvnilixarjebi, rasac uaryofiTi gavlena eqneba sameurneo-finansur saqmianobaze. amave dros,saprocento ganakveTebis zrda Seamcirebs momsaxurebis Rirebulebas ukve arsebuli sesxebis,romelTa ganakveTebi ukve dafiqsirebulia, realur gamoxatulebaSi. sainvesticio klimatisgaumjobesebasTan da kompaniis mier sakredito portfelis optimizaciasTan dakavSirebuliRonisZiebebis ganxorcielebis mizniT, moziduli sabanko kreditebis saprocento ganakveTiSemcirda wliur 15%-16%-dan 11,5%-12,0%-mde.• sakredito xelSekrulebebis pirobebTan dakavSirebuli riskebi. sazogadoebisxelmZRvaneloba miiCnevs, rom sakredito xelSekrulebebis pirobebis daucvelobasTandakavSirebuli riski momavalSi naklebad mosalodnelia.• inflacia da savaluto kursi. saqarTvelos mTavroba, saqarTvelos erovnul bankTan erTad,atarebs mkacr monetarul politikas inflaciis SesaCereblad saxelmwifos biujetSi Sesuliparametrebis farglebSi, dadebiTi sagadasaxado balansis SenarCunebis fonze. sazogadoebasavaluto risks eqvemdebareba qarTuli larisagan gansxvavebul valutaSi gamoxatul Sesyidvebsada kreditebTan dakavSirebiT. valuta, romelic aseTi riskis gamomwvevia, upirveles yovlisa,amerikis SeerTebuli Statebis dolaria. sazogadoeba ar axorcielebs savaluto riskisadmidaqvemdebarebis dazRvevas. saxelmwifos monetaruli politikis erT-erTi mimarTulebaa erovnulivalutis gacvlis dabali kursis SenarCuneba msoflio wamyvani valutebis mimarT. qvemoTmoyvanilia laris kursis dinamika aSS dolaris mimarT saangariSo periodis ganmavlobaSi:5

Tve gegmiuri faqtobrivi Tve gegmiuri faqtobriviianvari 1.6520 1.5870 ivlisi 1.6530 1.4080Tebervali 1.6530 1.5540 agvisto 1.6520 1.4100marti 1.6540 1.4760 seqtemberi 1.6510 1.4050aprili 1.6550 1.4620 oqtomberi 1.6500 1.4210maisi 1.6540 1.4440 noemberi 1.6500 1.6500ivnisi 1.6530 1.4180 dekemberi 1.6500 1.6670samarTlebrivi riskebi. samarTlebrivi riski SeiZleba warmoiqmnas sagadasaxado, savaluto dasabaJo kanonmdeblobis sferoSi saxelmwifo regulirebis cvlilebis Sedegad. sazogadoebisxelmZRvaneloba miiCnevs, rom sagadasaxado, savaluto da sabaJo kanonmdeblobis sferoSisaxelmwifo regulirebis cvlileba uaxloes momavalSi ar aris mosalodneli.mosaxleobis gadaxdis unarianoba. bolo wlebis ganmavlobaSi warmoebis zrdis tendencia daumuSevrobis donis Semcireba dadebiTad aisaxa saerTo fuladi masis zrdaze.sazogadoebis saqmianobasTan dakavSirebuli riskebi:• im mimdinare sasamarTlo procesebTan dakavSirebuli riskebi, romlebSic monawileobssazogadoeba. am momentisaTvis sazogadoeba monawileobs sasamarTlo procesebSi, romlebmacSedegad SeiZleba warmoqmnas sazogadoebis saqmianobasTan dakavSirebuli riskebi.• riskebi, romlebic dakavSirebulia sazogadoebis mier garkveuli saxis saqmianobisganxorcielebis an im obieqtebis gamoyenebis, romlebic mimoqcevaSi SezRudulia (bunebriviresursebis CaTvliT), licenziis moqmedebis gagrZelebis SeuZleblobasTan. Tu sazogadoeba verSeZlebs miiRos/gaagrZelos misi Semdgomi saqmianobisaTvis aucilebeli licenzia, aRniSnulifaqti umniSvnelod aisaxeba mis saqmianobaze. aseTi movlenebis albaToba mcirea.• riskebi, romlebic dakavSirebulia sazogadoebis SesaZlo pasuxismgeblobasTan mesamepirebis, maT Soris sazogadoebis Svilobili sazogadoebebis, valebTan dakavSirebiT. Svilobilida damokidebuli sazogadoebebis valebTan dakavSirebuli pasuxismgeblobis dadgomis riski ararsebobs.• sazogadoebis saqmianobasTan dakavSirebuli sxva riskebi. sazogadoebis Semosavalze gavlenasaxdens sezonuri (sezonurad icvleba sasargeblo gaSveba) cvalebadoba. aRniSnulis Sedegad 1-lda me-4 kvartalSi arsebobs sakaso maCveneblebs Soris mniSvnelovani gansxvavebis warmoqmnisriski. sazogadoeba ar axorcielebs sezonuri riskebis xejirebas.saqarTvelos energetikis saministrosTan, saqarTvelos energetikis da wyalmomaragebismaregulirebeli erovnuli komisiis (sewmeki) da Tbilisis administraciasTan konstruqciuliurTierTobebi, ganviTarebuli eleqtroqseluri infrastruqturis arseboba, energiissamomxmareblo bazris kargi codna, sazogadoebis dadebiTi sakredito istoria,maRalkvalificiuri personali, danaxarjebis marTvis gamocdileba, sainvesticio programebisdafinansebis gamocdileba saSualebas aZlevs sazogadoebas ganaxorcielos Tavisi saqmianobaeleqtroenergetikisadmi wayenebuli Tanamedrove moTxovnebis Sesabamisad.6

1.2. ss “Telasis” saqmianobis ZiriTadi maCveneblebi 2005-2008 wlebis ganmavlobaSi№№zomis 2005 2006 2007 2008dasaxelebaerTeuli weli weli weli weli1 2 3 4 5 6 71 eleqtrogadamcemi xazebis sigrZe km 3296 3334 3525.7 36332 mZ qvesadgurebis raodenoba cali 25 36 35 353satransformatoro qvesadgurebisraodenobacali 1470 1548 1496 15204 eleqtroenergiis Sesyidvamln.kvt.sT2047 2015 1936.8 1935.595 danakargebi gadacemis drosmln.kvt.sT- 29 36.9 38.426 qselSi gaSveba momxmareblebisTvismln.kvt.sT2047 1986 1899.9 1897.177 teqnologiuri danakargebimln.kvt.sT266 252 235.6 235.258 komerciuli danakargebimln.kvt.sT455 335 258.1 142.619sasargeblo gaSvebamln.momxmareblebisTviskvt.sT1326 1399 1406.2 1519.3010 qseluri momsaxureba (gadacema)mln.kvt.sT285 321 309.2 317.4511TanamSromelTa saSualo siobriviraodenobaadamiani 2125 2200 2206 216212 amonagebi realizaciidan (neto)aTasilari143.415 174.621 199.366 216.44513 mogeba (zarali) dabegvramdeaTasilari(832) 38.089 23.753 105.86914 wminda mogeba (zarali) aTas. lari 6 866 55.258 35.467 83.6301.3. korporaciuli marTvakorporaciuli marTvis principebi. ss “Telasis” korporaciuli marTva xorcieldebasazogadoebis wesdebis, sazogadoebis Sida dokumentebis, agreTve korporaciulisamarTalurTierTobebis sferoSi saqarTvelos fuZemdebluri samarTlebriv-normatiuli aqtebis:“mewarmeTa Sesaxeb”, “fasiani qaRaldebis Sesaxeb” kanonebis da saqarTvelos sxva samarTlebrivnormatiuliaqtebis Sesabamisad.sazogadoebaSi SemuSavebuli da aqcionerTa saerTo krebis mier damtkicebulia ZiriTadiSida korporaciuli dokumentebi, romlebic axorcielebs misi marTvisa da kontrolisorganoebis saqmianobis regulirebas:- debuleba aqcionerTa saerTo krebis momzadebis da Catarebis wesis Sesaxeb;- debuleba sameTvalyureo sabWos sxdomis mowvevis da Catarebis wesis Sesaxeb;- debuleba sameTvalyureo sabWos wevrebisaTvis anazRaurebis da kompensaciis gadaxdisSesaxeb;- debuleba specialuri kontrolioris (revizoris) Sesaxeb;-debuleba sazogadoebis specialuri kontroliorisaTvis (revizorisaTvis) anazRaurebisada kompensaciis gadaxdis Sesaxeb.sazogadoebis aqcionerTa da investorTa uflebebis uzrunvelyofa. sazogadoebissameTvalyureo sabWo, sazogadoebis generaluri direqtori uzurnvelyofen sazogadoebisaqcionerTa da investorTa uflebebisa da kanonieri interesebis dacvas.aqcioneris ZiriTadi uflebebia – dividendebis miRebis da sazogadoebis marTvaSimonawileobis ufleba – uzrunvelyofilia “mewarmeTa Sesaxeb” saqarTvelos kanoniT dasazogadoebis wesdebiT.7

sazogadoebis aqcionerebs ufleba aqvT monawileoba miiRon sazogadoebis marTvaSi, pirvelrigSi, aqcionerTa saerTo krebaze maT kompetenciaSi Semaval sakiTxebTan dakavSirebiTgadawyvetilebebis miRebis saSualebiT.aqcionerebs ufleba aqvT Tavisuflad gankargon Tavisi aqciebi moqmedi kanonmdeblobisdebulebebis Sesabamisad. aRricxvis sistema uzrunvelyofs aqciebze sakuTrebis uflebasaRricxvis saimedoobas, agreTve aqciebis Tavisufali da swrafi gasxvisebis SesaZleblobas.sazogadoebis aqciebze aqcionerTa sakuTrebis uflebebis dacva nebismieri darRvevisaganuzrunvelyofilia aqcionerTa reestris damoukidebeli registratoris mier warmoebis daSenaxvis saSualebiT.saerTo krebaze sazogadoebas SeuZlia ganacxados aqcionerTaTvis dividendebis gadaxdisSesaxeb, gasanawilebel mogebaze maTi uflebebisa da privilegiebis gaTvaliswinebiT. sazogadoebasufleba ara aqvs miiRos gadawyvetileba dividendebis gadaxdasTan dakavSirebiT mogebisararsebobis SemTxvevaSi, dauSvebelia agreTve dividendebis gacema iseTi raodenobiT, romelicaWarbebs sameTvalyureo sabWos rekomendaciebs.gamWvirvaleba da sainformacio gaxsniloba. sazogadoebis aqcionerebs sazogadoebissaqmianobis Sesaxeb informaciis SeuzRudavi wvdoma aqvT moqmedi kanonmdeblobis Sesabamisad.sainformacio politika aqcionerTa mimarT xorcieldeba informaciis wardgenis sisrulis,operatiulobis, obieqturobis da namdvilobis gaTvaliswinebiT. sazogadoeba aqcionerTaTvisuzrunvelyofs wesdebis me-6.3 punqtiT gaTvaliswinebuli dokumentebis wvdomas. aqcionerismoTxovniT sazogadoeba valdebulia miawodos mas wesdebis 21.4-e punqtiT gaTvaliswinebulidokumentebis aslebi.biznesis marTvis kontroli da xarisxis Sefaseba. kontrols sazogadoebis sameurneofinansursaqmianobaze axorcielebs sazogadoebis sameTvalyureo sabWo, specialurikontroliori (revizori) da sazogadoebis Sida auditis departamenti.1.4. sazogadoebis marTvisa da kontrolis organoebis struqturawesdebis Sesabamisad ss “Telasis” sazogadoebis marTvis organoebia:• aqcionerTa saerTo kreba;• sameTvalyureo sabWo;• generaluri direqtori.kontrolimarTvasazogadoebis specialurikontroliori (revizori)aqcionerTa saerTo krebasameTvalyureo sabWogeneraluri direqtoriaRmasrulebeli direqciass “Telasis” marTvis umaRlesi organoa aqcionerTa saerTo kreba.8

sazogadoebis sameTvalyureo sabWo axorcielebs sazogadoebis saqmianobis zogadxelmZRvanelobas da moqmedebs saqarTvelos kanoniT “mewarmeTa Sesaxeb” da ss “Telasis”wesdebiT gansazRvruli kompetenciis farglebSi.generaluri direqtori axorcielebs sazogadoebis mimdinare saqmianobisxelmZRvanelobas. igi aris sazogadoebis erTpirovnuli aRmasrulebeli organo. generaluridireqtori axorcielebs sazogadoebis xelmZRvanelobas, yoveldRiur marTvas dawarmomadgenlobiT uflebamosilebas.kontrols ss “Telasis” finansur da sameurneo saqmianobaze axorcielebssazogadoebis specialuri kontroliori (revizori).9

ss “Telasis” organizaciuli struqtura 31.12.2008 mdgomareobiTgeneraluri direqtoriSida auditisdepartamentiiuridiulidepartamentipersonalismarTvis dep-igen. direqtorissaqmeTa mmarTvelisaxelmwifo org-Tan muSaobis dep.sazogadoebasTanurTierTobis dep-isainformacioteqnologiebis dep.energogasaRebis direqtoriekonomikisa da finansebisdireqtori – generaluridireqtoris moadgileteqnikuri direqtorilogistikisa dasameurneo uzrunvelyofisdireqtoriuSiSroebisdireqtorieleqtroenergiis Sesyidvebisdepartamentieleqtroenergiis gayidvebisdep-igare servisis samsaxuribuRaltruli aRricxvisa daangariSgebis dep-iekonomikisa da finansebis dep.fuladi Semosavlebis dep-iqonebis departamentigamanawilebeliqselebis dep-isadispetCero marTvisdepartamentiSromis dacvis dasaxanZro usafrTxoebisdepartamentitransportisdepartamentisameurneouzrunvelyofisdep ilogistikisa dasameurneouzrunvelyofis dep.sazogad.ekonomikisa dafinansebismonitoringis gany.usafrTxoebisuzrunvelyofisganyofilebasainformacio –analitikuriganyofilebapiradi dacvisganyofilebadacvis samsaxuri10

1.4.1. informacia sazogadoebis marTvisa da kontrolis organoebis Sesaxeb1.4.1.1. aqcionerTa saerTo krebaaqcionerTa saerTo kreba aris sazogadoebis marTvis umaRlesi organo. sazogadoebisaqcionerTa saerTo krebis kompetencias ganekuTvneba Semdegi sakiTxebi:1) wesdebaSi cvlilebebisa da damatebebis Setana an sazogadoebis wesdebis axali redaqciisdamtkiceba;2) sxva sazogadoebasTan Serwyma, sazogadoebis gayofa an gardaqmna;3) sazogadoebis likvidacia, salikvidacio komisiis daniSnva, Sualeduri da saboloosalikvidacio balansebis damtkiceba;4) sazogadoebis sawesdebo kapitalis gazrda aqciaTa nominaluri Rirebulebis gazrdissaSualebiT, agreTve sazogadoebis sawesdebo kapitalis gazrda damatebiTi aqciebis ganTavsebissaSualebiT;5) sazogadoebis sawesdebo kapitalis Semcireba aqciaTa nominaluri Rirebulebis SemcirebissaSualebiT, sazogadoebis mier aqciaTa nawilis SeZena maTi saerTo raodenobis Semcirebis mizniT,agreTve sazogadoebis mier SeZenili an gamosyiduli aqciebis dafarvis saSualebiT;6) sazogadoebis aqciaTa danawileba da konsolidacia;7) sazogadoebis mier sxva fasiani qaRaldebis ganTavsebasTan dakavSirebiT gadawyvetilebismiReba;8) sazogadoebis daSveba aqciaTa da sxva fasiani qaRaldebis sabirJo vaWrobaze;9) sazogadoebis sameTvalyureo sabWos wevrTa arCeva da maTi uflebamosilebis vadamdeliSewyveta;10) sazogadoebis sameTvalyureo sabWos wevrTa Sromis anazRaurebis odenobisgansazRvra;11) specialuri kontrolioris (revizoris) arCeva da misi uflebamosilebis vadamdeliSewyveta, sazogadoebis specialuri kontroliorisaTvis (revizorisaTvis) anazRaurebis da (an)kompensaciis gadaxdis Sesaxeb gadawyvetilebis miReba;12) sazogadoebis auditoris arCeva da misi anazRaurebis odenobis gansazRvra;13) wliuri angariSebis, wliuri sabuRaltro angariSgebis damtkiceba, mogebis ganawileba(maT Soris, dividendebis gadaxda (gamocxadeba) sameTvalyureo sabWos an generaluri direqtorisrekomendaciiT, xolo, rodesac am organoebs ar SeuZliaT erTiani rekomendaciis micema,ganawilebis Sesaxeb damoukidebeli gadawyvetilebis miReba;14) sazogadoebis aqcionerTa saerTo krebis warmarTvis wesis dadgena;15) gadawyvetilebis miReba holdingur kompaniebSi, samrewvelo-safinanso jgufebSi dakomerciuli organizaciebis sxva gaerTianebebSi monawileobasTan dakavSirebiT;16) sazogadoebis organoebis saqmianobis maregulirebeli Sida dokumentebis damtkiceba;17) gadawyvetilebis miReba aqcioneris aqciaTa upiratesi Sesyidvis uflebis srul annawilobriv gauqmebasTan dakavSirebiT sawesdebo kapitalis gazrdis dros, agreTve gadawyvetilebismiReba gamoSvebuli aqciebis formis an saxeobis SecvlasTan dakavSirebiT;18) gadawyvetilebis miReba sameTvalyureo sabWos wevrTa an/da generaluri direqtoriswinaaRmdeg sasamarTlo procesis dawyebasTan dakavSirebiT, aRniSnul procesze warmomadgenlisdaniSnvis CaTvliT;19) sazogadoebis saqmianobis sagnis Secvla;20) saqarTvelos kanonmdeblobiT gaTvaliswinebuli sxva sakiTxebis gadawyveta.sazogadoebis aqcionerTa saerTo krebis momzadebis da Catarebis wesis reglamentirebasaxorcielebs debuleba “ss “Telasis” aqcionerTa saerTo krebis momzadebis da Catarebis wesisSesaxeb” da sazogadoebis wesdeba. aqcionerTa saerTo krebaze xmebis damTvleli komisiis funqciebs11

asrulebs Sps “saqarTvelos fasiani qaRaldebis gaerTianebuli registratori” – fasianiqaRaldebis damoukidebeli registratori.saangariSo periodSi Catarda aqcionerTa ori saerTo kreba – 26.06.2008 da 10.12.2008.detaluri informacia warmodgenilia winamdebare angariSis TavSi IV.1.4.1.2. sazogadoebis sameTvalyureo sabWosazogadoebis sameTvalyureo sabWo axorcielebs sazogadoebis saqmianobis saerToxelmZRvanelobas. sameTvalyureo sabWos kompetenciaSi Semdegi sakiTxebi Sedis:1) sazogadoebis saqmianobis prioritetuli mimarTulebebis da sameurneo politikis zogadiprincipebis gansazRvra, ekonomikuri saqmianobis axali saxeobis dawyebis an saqmianobis arsebulisaxeobis Sewyvetis Sesaxeb gadawyvetilebebis miReba;2) generaluri direqtoris angariSis ganxilva sazogadoebis saqmianobis, SvilobilsawarmoebTan urTierTobis CaTvliT, aqcionerTa saerTo krebis gadawyvetilebebis SesrulebisSesaxeb;3) generaluri direqtoris daniSnva da uflebamosilebis Sewyveta, agreTve masTan SromiTixelSekrulebis dadeba da gauqmeba;4) sazogadoebis generaluri direqtoris disciplinaruli pasuxismgeblobis sakiTxisdayeneba da misi waxaliseba;5) generalur direqtorTan garigebis ganxorcielebis dros sazogadoebis saxeliTmoqmedeba, agreTve aqcionerTa saerTo krebis gadawyvetilebiT, sazogadoebis saxeliT generaluridireqtoris winaaRmdeg samarTlebrivi davis warmoeba;6) aqcionerTa sagangebo saerTo krebis mowveva, agreTve misi dRis wesrigis damtkiceba;7) sazogadoebis wliuri angariSis, wliuri sabuRaltro angariSgebis winaswari miReba,agreTve mogebis (zaralis) ganawilebasTan dakavSirebiT rekomendaciebis micema, maT Sorisfinansuri wlis Sedegebis mixedviT dividendebis gadaxda (gamocxadeba);8) sazogadoebis monawileoba sxva organizaciebSi, maT Soris organizaciebis, romlebSicmonawileobs sazogadoeba, damfuZnebeli dokumentebis da marTvisa da kontrolis organoebSikandidaturebis SeTanxmeba, monawileobis wilis (aqciebis raodenobis, pais odenobis, wilebis)Secvla, aqciebis, wilis datvirTva da sazogadoebis sxva organizaciebSi monawileobis Sewyveta;9) im organizaciebTan, romlebSic monawileobs sazogadoeba, urTierTqmedebis wesisdamtkiceba;10) warmomadgenlobebisa da filialebis Seqmnasa da likvidaciaze Tanxmobis micema,prokuristebis daniSnva da ukan gamoZaxeba;11) uZravi qonebis SeZenaze, gasxvisebaze, datvirTvaze an arendaze Tanxmobis micema;12) sazogadoebis sakredito politikis gansazRvra sazogadoebis mier sesxis, sakreditoxelSekrulebebis da sesxis Sesaxeb xelSekrulebebis dadebis, Tavdebobis gacemis, TamasuqisSesabamisad (ubralo da gadasayvani Tamasuqis) valdebulebebis aRebis, qonebis dagiravebis dasazogadoebis mier aRniSnuli garigebebis dadebis Sesaxeb gadawyvetilebebis nawilSi im SemTxvevaSi,rodesac maTTan dakavSirebiT gadawyvetilebebis miRebis wesi ar aris gansazRvruli sazogadoebissakredito politikiT;13) garigebebi (ramdenime urTierTdakavSirebuli garigebis CaTvliT), romlebicdakavSirebulia im qonebis gasxvisebasTan an gasxvisebis SesaZleblobasTan, romelic SeadgensZiriTad saSualebebs, aramaterialur aqtivebs, dausrulebeli mSeneblobis obieqtebs, romelTagamoyenebis mizania eleqtroenergiis warmoeba, gadacema, dispetCerizacia, ganawileba im SemTxvevaSi,Tu misi odenoba ar aRemateba sazogadoebis aqtivebis sabalanso Rirebulebis 10% bolosaangariSo TariRisaTvis;14) garigebebi, romelTa sagania sazogadoebis arasabrunavi an araprofiluri aqtivebiodenobiT, romelic ar aRemateba sazogadoebis aqtivebis sabalanso Rirebulebis 10 procents aseTigarigebis ganxorcilebasTan dakavSirebiT miRebuli gadawyvetilebis TariRisaTvis;12

15) investiciebis ganxorcileba, romelTa odenoba calcalke an sameurneo wlisganmavlobaSi aRemateba sazogadoebis aqtivebis sabalanso Rirebulebis 10% bolo saangariSoTariRis mdgomareobiT, im garigebebis garda, romelTa dadeba xorcieldeba Cveulebrivi sameurneosaqmianobis mimdinareobisas;16) biznes-gegmis (koreqtirebuli biznes-gegmis) da misi Sesrulebis Sedegebis SesaxebangariSis damtkiceba, sazogadoebis efeqturobis ZiriTadi maCveneblis (eZm) miznobrivimniSvnelobebis (koreqtirebuli mniSvnelobebis) da maTi Sesrulebis Sesaxeb angariSebis damtkiceba;17) sazogadoebaSi Sesyidvis politikis gansazRvra, maT Soris saqonlis, samuSaos,momsaxurebis reglamentirebuli Sesyidvis ganxorcielebis wesis Sesaxeb debulebis damtkiceba,sazogadoebis centraluri Semsyidveli organos xelmZRvanelis, agreTve Sesyidvebis wliurikompleqsuri programis damtkiceba da sxva gadawyvetilebebis miReba sazogadoebis damtkicebuli,Sesyidvis saqmianobis mareglamentirebeli, dokumentebis Sesabamisad;18) sazogadoebis mier im garigebebis ganxorcielebasTan dakavSirebuli gadawyvetilebebiswinaswari damtkiceba, romlebic dakavSirebulia sazogadoebis qonebis an sakuTrebis uflebis(moTxovnis) usasyidlo gadacemasTan mesame pirebisaTvis, agreTve im garigebebis, romlebicdakavSirebulia sazogadoebis mier mesame pirebis usasyidlo momsaxurebasTan (samuSaoebisSesrulebasTan), da garigebebis, romlebic dakavSirebulia mesame pirebis sazogadoebis winaSeqonebrivi valdebulebisagan gaTavisuflebasTan;19) garigebebi, romlebic dakavSirebulia aRmasrulebeli organos (mmarTveli kompaniisfunqciebis Sesruleba) saxiT mesame pirebis momsaxurebasTan;20) xelmZRvaneli muSakebis mogebaSi da msgavsi saxis sxva urTierTobaSi monawileobisprincipis, agreTve pensiis gacemis principebis gansazRvra;21) kanoniT gaTvaliswinebul SemTxvevebSi, sazogadoebis mier gamoSvebuli aqciebisgamosyidvasTan dakavSirebuli gadawyvetilebis miReba;22) sazogadoebis im Sida dokumenetebis damtkiceba, romlebic gansazRvravs sazogadoebisfondebis formirebisa da gamoyenebis wess, agreTve sazogadoebis fondebis gamoyenebasTandakavSirebiT gadawyvetilebis miReba, specialuri daniSnulebis fondebis mixedviT saxsrebisgamoyenebis xarjTaRricxvis damtkiceba da specialuri daniSnulebis fondebis mixedviT saxsrebisgamoyenebis xarjTaRricxvis Sesrulebis Sedegebis ganxilva;23) Tavmjdomaris, Tavmjdomaris moadgilis da sameTvalyureo sabWos mdivnis arCeva da maTiuflebamosilebis vadamdeli Sewyveta;sameTvalyureo sabWos saqmianobis mareglamentirebeli ZiriTadi dokumentebia sazogadoebiswesdeba, debuleba ss “Telasis” sameTvalyureo sabWos sxdomebis mowvevis da Catarebis Sesaxeb,debuleba ss “Telasis” sameTvalyureo sabWos wevrebisaTvis anazRaurebis da kompensaciebisgadaxdis Sesaxeb. debulebebi SemuSavebulia “mewarmeTa Sesaxeb” da “fasiani qaRaldebis bazrisSesaxeb” saqarTvelos kanonebis Sesabamisad da miRebulia ss “Telasis” aqcionerTa saerTo wliurkrebaze.sazogadoebis wesdebaSi da ss “Telasis” sameTvalyureo sabWos sxdomebis mowvevis daCatarebis Sesaxeb debulebaSi asaxulia sameTvalyureo sabWos, sameTvalyureo sabWos TavmjdomarisarCevis, sxdomebis mowvevis da Catarebis, gadawyvetilebebis miRebis wesi. debuleba ss “Telasis”sameTvalyureo sabWos wevrebisaTvis anazRaurebis da kompensaciebis gadaxdis Sesaxeb axorcielebssameTvalyureo sabWos wevrTaTvis anazRaurebis da kompensaciis wesis reglamentirebas.sazogadoebis sameTvalyureo sabWo mniSvnelovan rols asrulebs aqcionerTa uflebebisuzrunvelyofaSi, sazogadoebis ganviTarebis strategiis formirebasa da realizaciaSi, agreTve misiwarmatebuli sameurneo-finansuri saqmianobis uzrunvelyofaSi.saangariSo wlis ganmavlobaSi sameTvalyureo sabWos mTeli saqmianoba gamWvirvale iyoaqcionerTaTvis, ramdenadac sameTvalyureo sabWos sxdomebis yvela oqmi xelmisawvdomiasazogadoebis nebismieri aqcionerisaTvis moTxovnisTanave.13

sameTvalyureo sabWos saqmianoba organizebuli iyo damtkicebuli samuSao gegmisSesabamisad, regularulad xorcieldeboda kontroli gadawyvetilebebis Sesrulebaze.saangariSo periodis ganmavlobaSi Seusrulebeli gadawyvetilebebi ar yofila. saangariSoperiodSi Sedga sameTvalyureo sabWos eqvsi sxdoma:2008 wlis 31 marti:1. sazogadoebis 2007 wlis 9 Tvis biznes-gegmis Sesrulebis Sesaxeb angariSis damtkiceba.2. 2007 wlis 3-e kvartalSi efeqturobis ZiriTadi kvartaluri maCveneblebis (eZm)Sesrulebis Sesaxeb angariSis damtkiceba.3. 2007 wlis 9 Tvis ganmavlobaSi sazogadoebis saqmianobis Sedegebis Sesaxeb generaluridireqtoris angariSis ganxilva.4. ss “TelasSi” Sesyidvis dargSi saqmianobis organizebis Sesaxeb.5. 2007 wlis 9 Tvis ganmavlobaSi ss “Telasis” Sesyidvebis Sesaxeb generaluridireqtoris angariSis damtkiceba.6. sazogadoebis 2007 wlis koreqtirebuli biznes-gegmis damtkicebis Sesaxeb.7. 2007 wlis efeqturobis ZiriTadi maCveneblebis (eZm) koreqtirebuli mniSvnelobebisdamtkicebis Sesaxeb.8. ss “Telasis” biujetirebis standartis damtkicebis Sesaxeb.9. ss “Telasis” biznes-dagegmvis standartSi cvlilebebis Setanis Sesaxeb.10. generalur direqtorTan 27.10.2005 w. dadebuli SromiTi xelSekrulebis damatebiTiSeTanxmebis pirobebis SeTanxmebis Sesaxeb.11. ss “Telasis” generaluri direqtorisTvis erTjeradi anazRaurebis gadaxda Ddss rao“ees rosiis” mier sapatio sigeliT dajildovebasTan dakavSirebiT.12. sazogadoebis sameTvalyureo sabWos wina sxdomebze miRebuli gadawyvetilebebisSesrulebis Sesaxeb.13. 2008 wlis 1-l naxevarSi sazogadoebis sameTvalyureo sabWos sxdomebis gegmisdamtkicebis Sesaxeb.2008 wlis 24 ivnisi:1. sazogadoebis 2008 wlis biznes-gegmis damtkicebis Sesaxeb.2. 2008 wlisaTvis efeqturobis ZiriTadi maCveneblebis (eZm) CamonaTvalis da gegmiuri(miznobrivi) kvartaluri da wliuri mniSvnelobebis damtkicebis Sesaxeb.3. 2008 wlisaTvis efeqturobis ZiriTadi maCveneblebis gaangariSebis wesis da 2008 wlisganmavlobaSi maTi Sesrulebis Sefasebis kriteriumebis damtkicebis Sesaxeb.4. sazogadoebis biznes-dagegmvis standartSi cvlilebebis Setanis Sesaxeb.5. 2008 wlisaTvis sazogadoebis Sesyidvebis wliuri kompleqsuri programis damtkicebisSesaxeb.6. 2007 wlis ganmavlobaSi sazogadoebis Sesyidvebis wliuri kompleqsuri programisSesrulebis Sesaxeb generaluri direqtoris angariSis damtkiceba.7. 2008 wlis me-2 naxevarSi sazogadoebis sameTvalyureo sabWos sxdomebis gegmisdamtkicebis Sesaxeb.2008 wlis 25 ivnisi:1. sazogadoebis 2007 wlis biznes-gegmis Sesrulebis Sesaxeb angariSis damtkiceba.2. 2007 wlis me-4 kvartalSi sazogadoebis efeqturobis ZiriTadi kvartalurimaCveneblebis (eZm) Sesrulebis da 2007 wlis Sedegebis mixedviT efeqturobis ZiriTadimaCveneblebis (eZm) Sesaxeb angariSis damtkiceba.3. sazogadoebis 2008 wlis 1 kvartlis biznes-gegmis Sesrulebis Sesaxeb angariSisdamtkiceba.14

4. sazogadoebis 2008 wlis 1 kvartlis efeqturobis ZiriTadi kvartaluri maCveneblebis(eZm) Sesrulebis Sesaxeb angariSis damtkiceba.5. sazogadoebis 2008 wlis 1 kvartlis Sesyidvebis wliuri kompleqsuri programisSesrulebis Sesaxeb sazogadoebis generaluri direqtoris angariSis damtkiceba.6. sazogadoebis 2008 wlis 1 kvartlis mimdinare saqmianobis Sesaxeb generaluridireqtoris angariSis ganxilva.7. wliuri angariSis, buRaltruli angariSgebis, maT Soris, 2007 wlis Sedegebis mixedviTsazogadoebis mogebisa da zaralis Sesaxeb angariSis winaswari damtkiceba.8. sazogadoebis aqcionerTa saerTo wliuri krebisaTvis mogebis (zaralis) ganawilebasTanda 2007 wlis Sedegebis mixedviT dividendebis gadaxdasTan dakavSirebiT rekomendaciebis Sesaxeb.9. sazogadoebis sameTvalyureo sabWos mdivnisTvis anazRaurebis da kompensaciis gadaxdisSesaxeb.10. 2008 wels sazogadoebis dakreditebis moculobebis damtkicebis Sesaxeb.2008 wlis 29 agvisto:1. ss “Telasis” saqmianobis prioritetuli mimarTulebebis da sameurneo politikisZiriTadi principebis gansazRvra.2008 wlis 27 oqtomberi:1. 2008 wlis me-2 kvartlis da 1-li naxevris sazogadoebis biznes-gegmis SesrulebisSesaxeb angariSis damtkiceba.2. 2008 wlis 1-li naxevris ganmavlobaSi sazogadoebis Sesyidvebis wliuri kompleqsuriprogramis Sesrulebis Sesaxeb generaluri direqtoris angariSis damtkiceba.3. sazogadoebis 2008 wlis 1-li naxevris mimdinare saqmianobis Sesaxeb generaluridireqtoris angariSis damtkiceba.4. 2005 wlis 27 oqtombers generalur direqtorTan dadebuli SromiTi xelSekrulebisdamatebiTi SeTanxmebis Sesaxeb.5. Rss “inter rao ees”-sa da ss “Telass” Soris sesxis Sesaxeb xelSekruleba #4,09.12.2005 damatebiTi SeTanxmebis dadebis Sesaxeb im garigebis saxiT, romelTan dakavSirebiTac ss“Telasis” sakredito politikiT ar aris gansazRvruli gadawyvetilebis miRebis wesi.6. Rss “inter rao ees”-sa da ss “Telass” Soris sesxis Sesaxeb xelSekruleba #5,05.12.2006 damatebiTi SeTanxmebis dadebis Sesaxeb im garigebis saxiT, romelTan dakavSirebiTac ss“Telasis” sakredito politikiT ar aris gansazRvruli gadawyvetilebis miRebis wesi.7. Rss “inter rao ees”-sa da ss “Telass” Soris cesiis xelSekrulebis dadebisdamtkicebis Sesaxeb im garigebis saxiT, romelTan dakavSirebiTac ss “Telasis” sakreditopolitikiT ar aris gansazRvruli gadawyvetilebis miRebis wesi.8. sazogadoebis umaRlesi menejmentis premirebis Sesaxeb 2007 wlis me-4 kvartlis da2007 wlis Sedegebis mixedviT.2008 wlis 30 dekemberi:1. 2008 wlis me-2 kvartalSi sazogadoebis efeqturobis ZiriTadi kvartaluri maCveneblebis(eZm) Sesrulebis Sesaxeb angariSis damtkiceba.2. 2008 wlis me-3 kvartlis da 9 Tvis sazogadoebis biznes-gegmis Sesrulebis SesaxebangariSis damtkiceba.3. 2008 wlis me-3 kvartalSi sazogadoebis efeqturobis ZiriTadi kvartalurimaCveneblebis (eZm) Sesrulebis Sesaxeb angariSis damtkiceba.4. 2008 wlis 9 Tvis ganmavlobaSi sazogadoebis Sesyidvebis wliuri kompleqsuriprogramis Sesrulebis Sesaxeb generaluri direqtoris angariSis damtkiceba.15

sameTvalyureo sabWos wevrTa muSaobis Sefasebisas, unda aRiniSnos, rom sabWos yvelawevri, Tavisi uflebebis ganxorcielebisas da movaleobebis Sesrulebisas, moqmedebda sazogadoebisinteresebis dasacavad, keTilsindisierad da gonivrulad, sabWos yvela im sxdomaSi aqtiurmonawileobas iRebda, romelic praqtikulad 100% daswrebiT tardeboda.momaval wlebSi sameTvalyureo sabWo udides yuradRebas dauTmobs korporaciuli marTvisxarisxis sakiTxebs, kompaniis momgebianobis amaRlebas, agreTve myari, saimedo da konkurentunarianipolitikis gatarebas gasaRebis ZiriTad bazrebze (produqcia, samuSao, momsaxureba).sameTvalyureo sabWo sazogadoebis ganviTarebis Sedegebs afasebs, 2008 wels misisaqmianobis prioritetuli mimarTulebebis mixedviT, rogorc warmatebuls. am periodisganmavlobaSi ss “Telasma” SeZlo kompaniis funqcionirebis uzrunvelyofa 83,630 milioni larisodenobis mogebiT.1.4.1.3. sazogadoebis Sida kontrolis sistemis daxasiaTebasazogadoebis Sida kontrolis sistema Seiqmna sazogadoebis sameurneo-finansur saqmianobaze,calkeul qvedanayofebze, sazogadoebis mmarTvelobiTi organoebis Tanamdebobis pirebze dasazogadoebis aRmasrulebeli aparatis struqturuli qvedanayofebze mudmivi kontrolisganxorcielebis mizniT saqarTvelos kanonmdeblobasTan, sazogadoebis wesdebasa da SidadokumentebTan SesabamisobasTan dakavSirebiT, aRniSnuli moicavs specialur kontroliors(revizors) da sazogadoebis Sida auditis departaments.sazogadoebis specialuri kontroliori (revizori)sazogadoebis sameurneo-finansur saqmianobaze kontrolis ganxorcielebis mizniT,aqcionerTa saerTo krebaze 13.12.2006 arCeul iqna sazogadoebis specialuri kontroliori(revizori) irina olegis asuli posevina – Rss “inter rao ees”-is Sida auditis departamentisufrosi.revizoris saqmianobis mareglamentirebeli ZiriTadi dokumentebia sazogadoebis wesdeba,debuleba ss “Telasis” specialuri kontrolioris (revizoris) Sesaxeb, debuleba ss “Telasis”specialuri kontroliorisaTvis anazRaurebis da kompensaciis gadaxdis Sesaxeb da sazogadoebisaqcionerTa saerTo krebis mier damtkicebuli sxva Sida dokumentebi.specialuri kontroliori sazogadoebis Sida kontrolis mudmivmoqmedi organoa, romelicmudmivad axorcielebs kontrols sazogadoebis sameurneo-finansur saqmianobaze, calkeulqvedanayofebze, sazogadoebis mmarTvelobiTi organoebis Tanamdebobis pirebze da sazogadoebisaRmasrulebeli aparatis struqturul qvedanayofebze saqarTvelos kanonmdeblobasTan,sazogadoebis wesdebasa da Sida dokumentebTan SesabamisobasTan dakavSirebiT.sazogadoebis specialuri kontroliori moqmedebs sazogadoebis aqcionerTa interesebisdacviT da Tavis saqmianobis dros angariSvaldebulia sazogadoebis aqcionerTa saerTo krebiswinaSe. Tavisi saqmianobis ganxorcielebisas revizori damoukidebelia sazogadoebis marTvisorganoebis Tanamdebobis pirebisagan da sazogadoebis aRmasrulebeli aparatis struqturuliqvedanayofebis xelmZRvanelebisagan.sazogadoebis specialuri kontrolioris mTavari amocanebia:a) sazogadoebis sameurneo-finansur saqmianobaze kontrolis ganxorcieleba;b) sazogadoebis mier ganxorcielebuli sameurneo-finansuri operaciebis SesabamisobasaqarTvelos kanonmdeblobasTan da sazogadoebis wesdebasTan;g) sazogadoebis finansuri mdgomareobis Sesaxeb informaciis damoukidebeli Sefasebisganxorcieleba.16

sazogadoebis specialur kontroliors unazRaurdeba faqtobrivad yvela mis mier gaRebulixarji, romelic dakavSirebulia sazogadoebis sarevizio SemowmebasTan (mgzavroba, sastumro, kvebada a.S.). kompensaciis gadaxdas sazogadoeba axorcielebs gaRebuli xarjebis damadasturebelidokumentebis wardgenidan ori kviris vadaSi.specialuri kontroliorisaTvis sameurneo-finansuri saqmianobis SemowmebaSi (reviziaSi)monawileobisaTvis gadaxdil unda iqnes erTdrouli anazRaureba 1000 laris odenobiT.sazogadoebis sameurneo-finansuri saqmianobis TiToeuli ganxorcielebuli SemowmebisaTvis(reviziisaTvis), specialuri kontrolioriosaTvis SeiZleba gadaxdil iqnes damatebiTi anazRaureba1000 laris odenobiT. damatebiTi anazRaurebis gadaxdis wess da vadebs adgens sazogadoebissameTvalyureo sabWo.specialuri kontrolioris mier mowveuli specialistebisaTvis (eqspertebisaTvis)anazRaurebisa da kompensaciis gadaxdas sazogadoeba axorcielebs maTTan sazogadoebis mierdadebuli xelSekrulebebis safuZvelze. aseTi xelSekrulebebis pirobebs amtkicebs sazogadoebissameTvalyureo sabWo.sazogadoebis Sida auditis departamentisazogadoebis Sida auditis departamenti Seiqmna yvela sameurneo operaciebis warmoebiswesis yoveldRiuri Sida kontrolis mizniT, rac finansuri da saoperacio riskebis, agreTveTanamdebobis pirebis mier SesaZlo borotad gamoyenebis faqtebis, operatiuli gamovlenis,aRkveTisa da minimizciis saSualebas iZleva. Sida kontroli xels uwyobs sazogadoebis xarjebisgegmiur Semcirebas da misi resursebis efeqtur marTvas.sazogadoebis sameurneo-finansuri saqmianobis kontrolis sistema mowodebuliauzrunvelyos sameurneo-finansuri gegmis zusti Sesruleba. sazogadoebis sameTvalyureo sabWoyovelkvartalurad ganixilavs da amtkicebs generaluri direqtoris angariSebs saqmianobisSedegebis Sesaxeb da angariSebs biznes-gegmis Sesrulebis Sesaxeb, rac sameurneo saqmianobisfinansuri maCveneblebis operatiuli Tvalyuris devnebis da sazogadoebis biznesis xarisxismarTvis saSualebas iZleva. garda amisa, sameTvalyureo sabWo amtkicebs sazogadoebis efeqturobiskvartaluri da wliuri ZiriTadi maCveneblebs da angariSebs maTi Sesrulebis Sesaxeb.17

1.5. sawarmoo saqmianoba1.5.1. eleqtruli qselebis daxasiaTeba da teqnikuri mdgomareoba№№ dasaxelebazomiserTeulimaCveneblebi1 2 3 41 egx-is saerTo sigrZe, sul km 3633maT Soris:1.1 sahaero egx (jaWvebze), sul km 1570maTgan:1.1.1 - Zabvis done 110 kv km 2471.1.2 - Zabvis done 35 kv km 881.1.3 - Zabvis done 10 kv km 861.1.4 - Zabvis done 6 kv km 1821.1.5 - Zabvis done 500 volti da ufro dabali km 9671.2 sakabelo egx, sul km 2063maTgan:1.2.1 - Zabvis done 35 kv km 151.2.2 - Zabvis done 10 kv km 2911.2.3 - Zabvis done 6 kv km 9261.2.4 - Zabvis done 500 volti da ufro dabali km 8312 damwevi qvesadgurebi 35 kv da maRla2.1 qvesadgurebis raodenoba, sul cali 35maT Soris:2.1.1 damwevi qvesadgurebi 35/6 -10 kv cali 122.1.2 damwevi qvesadgurebi 110 kv cali 232.2 saerTo dadgmuli simZlavre mvt 1 694maT Soris:2.2.1 damwevi qvesadgurebi 35/6 -10 kv mvt 3352.2.2 damwevi qvesadgurebi 110 kv mvt 13593 satransformatoro qvesadgurebi 10/6/0,4 kv3.1 qvesadgurebis raodenoba cali 15203.2 saerTo dadgmuli simZlavre mvt 1114maT Soris:3.4 kompleqturi cali 166mvt 903.5 daxuruli cali 1354mvt 1024maRali Zabvis qvesadgurebis mowyobiloba ekuTvnis 1970-1980 wlebis teqnologiur bazas.mdgomareoba, ZiriTadad, damakmayofilebelia. “ss “Telasis” 2006-2008 wlebis sainvesticioprogramis” Sesabamisad, xorcieldeba zeTis amortizebuli amomrTvelebis gamocvla axali Taobisvakuumuri amomrTvelebiT, Rgm mowyobilobis sqemebis da qvesadguris marTvis sistemis srulyofa.Catarebuli samuSaoebis Sedegad maRali Zabvis qvesadgurebis mowyobilobebis teqnikurimdgomareoba sagrZnoblad gamosworda.dabali Zabvis (satransformatoro) qvesadgurebis mowyobiloba, aseve ekuTvnis 1970-1980wlebis teqnologiur bazas. 0,4 kv gamanawilebeli mowyobilobis mdgomareoba damakmayofilebelia.18

2000-2003 wlebSi da 2006-2007 wlebSi ganxorcielda sareabilitacio samuSaoebi. 6-10 kvgamanawilebeli mowyobilobis mdgomareoba aradamakmayofilebelia (2005 wlamde konkretulimowyobilobis mwyobridan gamosvlis SemTxvevaSi xorcieldeboda mxolod aRdgeniTi samuSaoebi).2006 wlidan xorcieldeba 2006-2008 wlebis sainvesticio programa da 6-10kv gamanawilebelimowyobilobebis teqnikuri mdgomareoba sagrZnoblad gamosworda.35 da 110 kv eleqtrogadamcemi xazebi – teqnikuri mdgomareoba damakmayofilebelia.6-10 kv eleqtrogadamcemi xazebi – sahaero da, gansakuTrebiT, miwisqveSa eleqtrogadamcemixazebi mZime teqnikuri mdgomareobaSia. cveTa Seadgens daaxloebiT 70%. cveTis maRali doneSeiZleba ori mizeziT aixsnas:- eqspluataciis vada;- muSaobis reJimis rTuli pirobebi.0,4 kv eleqtrogadamcemi xazebi (sahaero):- saerTo sigrZis (SiSveli sadenebi) 15% - gacveTilia eqspluataciis xangrZlivi vadis damuSaobis rTuli pirobebis gamo.- saerTo sigrZis (Tis) 85% - aSenda 2001-2008 wlebSi, teqnikuri mdgomareoba kargia.0,4 kv eleqtrogadamcemi xazebi (sakabelo) – mdgomareoba damakmayofilebelia. 2000-2008wlebSi gacveTili xazebis umetesoba Seicvala mricxvelebis gatanis procesis dros.1.5.2. avtosatransporto saSualebebi da specmeqanizmebi№№ maCveneblebis dasaxeleba raod.1 2 41 TviTmavali manqanebi da specmeqanizmebi eleqtrul qselebSi, sul, cali 151maT Soris:1.1 avtoamweebi tvirTamweobiT 6-20 t, cali 31.2 saburRi da amwe manqanebi, cali 21.3 avtohidroamweebi, teleskopuri koSkurebi, cali 161.4 eleqtromeqanikuri saxelosnoebi avtomanqanis bazaze, cali -1.5 eleqtrolaboratoriebi avtomanqanebis bazaze, cali 111.6 avtomanqanebi saxazo, sabrigade, saqselo maRali gamavlobis, cali 181.7 avtomanqanebi saxazo, sabrigade, saqselo 1 wamyvani RerZiT 131.8 manqanebi gamanawilebeli qselebisaTvis (mgq), cali -1.9 samsaxurebrivi msubuqi avtomobilebi, maRali gamavlobis, cali 281.9a samsaxurebrivi msubuqi avtomobilebi, 1 wamyvani RerZiT, cali 451.10 8-40 adgiliani avtobusebi, cali 41.11 satvirTo, maRali gamavlobis avtomobilebi, cali 21.12 satvirTo avtomanqanebi erTRerZiani, cali 51.13 TviTmclelebi, cali 41.14 buldozerebi, buCqsaWrelebi, amosaZirkvebi muxluxa svlaze, Tvliani traqtorebi,muxluxa traqtorebi, cali2 specialuri misabmelebi da meqanizmebi misabmelebze – sul, cali 11maT Soris:2.1 misabmeli-mZime woniani (treileri) tvirTamweoba 20-40 t, cali. 12.2 avtomisabmeli (traqtoris misabmeli) orRerZiani tvirTamweoba 5 tonamde, cali -2.3 avtomisabmeli-saZvrisi tvirTamweobiT 1,5-3 t, cali. 62.4 moZravi kompresori mwarmoebluroba 5-10 kub. m, cali 32.5 avtocisterna avtomanqanaze, cali 1sul 16219

1.5.3. ss “Telasis” sawarmoo-teqnologiuri maCveneblebi 2006-2008 wlebisganmavlobaSi2008 weli2006 2007№№ maCveneblis dasaxeleba zomis erTeuli weli weligadaxragegm. faqt.(+/-) %1 2 3 4 5 6 7 8 91 ss “Telasis” Sesyidvebi mln. kvt.sT 2,015.3 1,936.82,039.751,935.59 -104.16 -5.11.1 danakargebi gadacemis drosmln. kvt.sT 29.4 36.9 49.75 38.42 -11.33 -22.8% Sesyidvidan 1.46 1.29 2.4 2.0 10.9 44622.1miRebulia (gaSvebulia)qselSieleqtroenergiis danakargebiqselebSi, sulmaT Soris:2.1.1 teqnologiuri danakargebi2.1.2 komerciuli danakargebi3sasargeblo gaSvebamomxmareb.mln. kvt.sT 1,985.9 1,899.91,990.001,897.17 -92.83 -4.7mln. kvt.sT 587.1 493.7 496.39 377.86 -118.52 -23.9% qselSigaSvebidan29.56 26.00 24.9 19.9 127.7 508.5mln. kvt.sT 252.1 235.6 246.76 235.25 -11.51 -4.7% qselSigaSvebidan12.7 12.4 12.4 12.4 0 0mln. kvt.sT 335.0 258.1 249.63 142.61 -107.01 -42.9% qselSigaSvebidan16.9 13.6 12.5 7.52 -5 -40.1mln. kvt.sT 1,398.8 1,406.2% qselSigaSvebidan1,493.621,519. 30 25.69 1.770.44 74.0 75.05 80.08 -27.67 -36.172008 wels tranzitisTvis miRebuli da gaSvebuli eleqtroenergiis moculobam Seadgina317.45 mln kvtsT.1.5.4. eleqtrul qselebSi eleqtroenergiis danakargebi2008 wels Sesyidulia 1,935.59 mln. kvt.sT eleqtroenergia. gadacemis dros danakargebmaSeadgina 38.42 mln. kvt.sT. qselSi gaSvebam Seadgina 1897.17 mln. kvt.sT. momxmarebelTaTvissasargeblo gaSvebam Seadgina 1,519.30 mln. kvt.sT. ss “Telasis” qselSi eleqtroenergiis jamurmadanakargebma Seadgina 377.86 mln. kvt.sT, rac 115.84 mln. kvt.sT naklebia, vidre 2007 wels. 2008wels eleqtroenergiis danakargebis sididem qselSi gaSvebasTan dakavSirebiT Seadgina 19.9%, 2007wels 26.00% SedarebiT.20

2500200015001935.591897.17млн.кВт.ч.mln kvt sT1519.310005000ЗакупкаeleqtroenergiisSesyidvaэлектроэнергии38.42Потери приdanakarebigadacemisasпередаче235.25142.61Отпуск в сеть Технологические Коммерческие Полезный отпускqselSi gaSveba teqnologiuri komerciuli sasargebloпотребителямdanakargebiпотериdanakargebiпотериgaSveba2008 wels danakargebis Sesamcireblad RonisZiebebis ganxorcieleba2008 wels danakargebis SedarebiTi sididis Semcirebas, gasul welTan SedarebiT, adgilihqonda saorganizacio-teqnikuri RonisZiebebis xarjze, maT Soris, eleqtrul qselebSi (aRricxviskvanZebis gatana momxmareblis teritoriis sazRvrebs gareT) eleqtroenergiis aRricxvis sistemissrulyofiT.danakargebis Sesamcireblad ganxorciebuli RonisZiebebis farglebSi, Sesrulebulia 0,4 kvsx-is sarekonstruqcio samuSaoebi - ganxorcielda 221 km izolirebuli sahaero xazebis montaJi,Seicvala sadarbazoebs Soris sakabelo xazebi Senobebs gareT gayvanilobiT 42000 abonentisTvis,gatanilia mricxvelebi abonentTa teritoriis sazRvrebs gareT, 14540 abonentisaTvis axaliizolirebuli Semyvanebis mowyobiT. 0,4 kv sx-is rekonstruqciis proeqtiT ganxorcielda mimdebares/q Soris datvirTvis optimaluri gadanawileba, fazebis mixedviT datvirTvis Tanabarigadanawileba.eleqtroenergiis danakargebis dinamika qselSi gaSvebis mimarT 2004-2008 wlebSiqselSi gaSvebis %4035.23029,626,02022,216,913,619,91013,012,712,412,47,502005 weli 2006 weli 2007 weli 2008 welidanakargebi, sul teqnologiuri danakargebi komerciuli danakargebi21

1.5.5. eleqtroenergiis aRricxvis mdgomareoba, ekaas-is danergvaeleqtroenergiis aRricxvisTvis ZiriTadad gamoiyeneba induqciuri eleqtromricxvelebi.eleqtroenergiis Sesyidvis wertilebSi da msxvili momxmareblebisaTvis damontaJebuliacifruli eleqtromricxvelebi. kompaniaSi aris saqarTvelos saxstandartis miereleqtromricxvelebis atestirebuli laboratoria. laboratoriaSi xorcieldeba yvelaeleqtromricxvelis dakalibreba da daluqva da, agreTve eqspluataciaSi arsebulieleqtromricxvelebis saeqsperto Semowmeba. kompania Tavisi xarjebiT awarmoebs wundebuli,dazianebuli da arazusti mricxvelebis Secvlas.damuSavebis procesSia proeqti ekaasgs. mimdinareobs winasaproeqto Semowmeba da qselistopologiis gaTvaliswinebiT konfiguraciis SerCeva. ss “TelasSi” ekaasgs-s Seqmnis da danergvisZiriTadi mizania eleqtroenergiis da simZlavris aRricxvis Sesaxeb zusti, sarwmuno dalegitimuri informaciis uzrunvelyofa eleqtroenergiis momwodeblebTanurTierTangariSsworebisTvis. eqspluataciaSi Seyvanilia yvela 110 (35) qs-dan monacemebismiRebis 40 kompleqti, mimdinareobs samuSaoebi proeqtis me-2 etapis gansaxorcileblad.1.5.6. teqnikuri zedamxedveloba eleqtroqseluri meurneobis obieqtebis mdgomareobazess “Telasi” 2008 wels zedamxedvelobis ganyofilebis ZalebiT, yvela klasis Zabviseleqtroqselis obieqtebze, sruli moculobiT axorcielebda saorganizacio-teqnikur,sainformacio-meTodur, sazedamxedvelo da profilaqtikuri RonisZiebebis kompleqss, romelicmiznad isaxavda xanZrebis, avariebis da sxva teqnologiuri darRvevebis acilebas,mowyobilobebis da personalis saeqspluatacio saimedoobis gazrdas, avariulobis datramvatizmis Semcirebas.ganyofilebis saerTo saStato raodenoba Seadgens 5 adamians, maT Soris – 4 adamianiinspeqtorebis personalia.eleqtroqselis sakontrolo obieqtebze 2005-2008 w.w. Catarebuli SemowmebebisSejerebuli monacemebi moyvanilia cxrilSi.eleqtroqselis obieqtebis Catarebuli Semowmebebis Sejerebuli monacemebi№№ cnobebi Semowmebebis Sesaxeb 2005weli2006weli2007weli2008weli1 2 3 4 5 61 obieqtebis Semowmebis saerTo ricxvi 2256 1965 1717 35572 miwerilobaTa raodenoba 292 183 165 3343 miwerilobebSi RonisZiebaTa raodenoba 1460 1098 1024 668maT Soris:3.1 Sesrulebuli 1168 879 844 6073.2 gadavadebuli RonisZiebebi 292 219 180 61saangariSo periodis ganmavlobaSi, sazogadoebis qvedanayofebSi xorcieldebodasayovelTao Semowmebebi, personalis mier Sromis dacvis da samrewvelo usafrTxoebis moTxovnaTadacvis nawilSi. Semowmebebis Sedegebis mixedviT Catarda analizi, gamovlinda travmasaSiSisituaciebi da faqtorebi, SemuSavda RonisZiebebi maT aRsakveTad.22

avariuloba. teqnologiuri darRvevebi2008 wels ss “Telasis” eleqtruli qselebis muSaobisas sul moxda 7122 teqnologiuridarRveva (incidenti), 2007 wels momxdar 9146 incidentTan SedarebiT, rac Seesabameba 22.1%Semcirebas. avariebs aRniSnuli periodis ganmavlobaSi adgili ar hqonia.2008 wels eleqtroenergiis gaSvebis danaklisma Seadgina 4139.9 aTasi kvt.sT, rac gasulwelTan SedarebiT 18.9% naklebia. 2008 wels ekonomikurma zaralma Seadgina 427.6 aTasi lari,rac 2007 welTan SedarebiT 18.4% naklebia.teqnologiuri darRvevebis SemTxvevaTa Semcireba da, Sesabamisad, ekonomikuri zaralisSemcireba eleqtroenergis gaSvebis danaklisis gamo m viRweul iqna eleqtruli qselebissareabilitacio samuSaoebis Sesrulebis, maRalefeqturi masalebis danergvis da eleqtroqselebismomsaxurebis, remontis da rekonstruqciis dros Tanamedrove teqnologiebis gamoyenebis xarjze.analizma gviCvena, rom mowyobilobebi da eleqtrogadamcemi xazebi, romelTa Zabvaa 0,4 35da 110 kv, sakmaod saimedoa, mowyobilobebisa da 6/10 kv Zabvis xazebisgan gansxvavebiT, romelTadazianeba 2008 wels yvela teqnologiuri darRvevis warmoqmnis ZiriTadi wyaro iyo. qvemoTcxrilebSi moyvanilia cnobebi 2007-2008 wlebSi incidentebis, avariebis da teqnologiuridarRvevebis Sesaxeb ss “Telasis” eleqtroqselebSi.№№cnobebi incidentebisa da avariebis Sesaxeb 2007-2008 wlebSimaCveneblis dasaxeleba2007weli2008weligadaxra(+/-) %1 2 3 4 5 61 incidentebi 9149 7122 -2024 -22.12 avariebi - - - -3eleqtroenergiis gaSvebis danaklisi (aTasikvt.sT)5,102.4 4,139.9 -962.5 -18.94 ekonomikuri zarali (aTasi lari) 523.7 427.6 -96.1 -18.42007-2008 wlebSi ss “Telasis” eleqtroqselebSi teqnologiuri darRvevebiincidentebi eleqtroenergiis gaSvebis ekonomikuri zaraliTveebidanaklisi (aTasi kvt.sT)(aTasi lari)2007weli2008weli2007weli2008weli2007weli2008weli1 2 3 4 5 6 7ianvari 775 570 458.7 279.0 47.6 29.5Tebervali 826 884 403.1 449.1 41.7 47.7marti 973 830 522.8 447.2 54.1 46.7aprili 868 561 472.5 433.1 48.8 44.4maisi 719 388 477.5 398.7 48.8 40.7ivnisi 623 526 398.8 314.3 40.6 32.0ivlisi 754 516 393.4 330.7 40.0 33.7agvisto 597 535 367.1 243.2 37.2 24.8seqtemberi 574 455 287.2 281.7 29.1 28.7oqtomberi 624 657 348.0 406.5 35.2 41.4noemberi 937 442 507.5 250.3 51.9 25.9dekemberi 876 758 465.8 306.1 48.7 32.1sul 9146 7122 5,102.4 4,139.9 523.7 427.623

12001000incidentebi8006004002000ianvariTebervali marti aprili maisi ivnisi ivlisi agvisto seqtemberi oqtomberi noemberi dekemberi2007 weli 2008 weli1.5.7. ss “Telasis” eleqtrul qselTan teqnologiuri mierTebebi 2005 – 2008 wlebisganmavlobaSiukanaskneli sami wlis ganmavlobaSi ganxorcielda 10475 teqnologiuri mierTeba momxmarebelTaeleqtrul qselTan, saerTo jamuri simZlavriT 317.5 aTasi kvt. aqedan 10218 mierTeba saerTo jamurisimZlavriT 151.8 aTasi kvt Zabvaze 0,4 kv (mierTebebis saerTo simZlavris 48 %) da 257 mierTebasaerTo jamuri simZlavriT 165.7 aTasi kvt Zabvaze - 6/10 kv (mierTebebis saerTo simZlavris 52%).№№mierTebissimZlavresruli mierTebebis raod-baxelSekrulebebis da tp mixedviT, cmierTebis faqtobrivi simZlavre,aTasi kvt2005weli2006weli2007weli2008weli2005weli2006weli2007weli2008weli1 2 3 4 5 6 7 8 9 101 6 -10 kv 41 71 81 64 24.2 37.3 55.2 49.02 0,4 kv 1850 2137 2868 3363 31.5 38.6 36.1 45.6sul 1891 2208 2949 3427 55.7 75.9 91.3 94.6602005 – 2008 wlebis ganmavlobaSi teqnologiuri mierTebebis diagrama50403037.355.24931.538.636.145.62024.21006-10kv0.4 kv2005 weli 2006 weli 2007 weli 2008 weli1.5.8. saremonto saqmianobis organizebass “Telasis” eleqtroqseluri obieqtebis teqnikuri momsaxureba da remonti xorcieldebagamanawilebeli qselis departamentis samsaxurebis da mowveuli kontragentebis mier.eleqtrogadamcemi xazebis remonti xorcieldeboda maTi teqnikuri mdgomareobidan gamomdinare,24

“mowyobilobebis teqnikuri momsaxurebisa da remontis organizebis” moqmedi wesebis dacviT.qvesadgurebis mowyobilobebis remonti xorcieldeboda mowyobilobebis mwarmoebeli qarxnebiswesebiT, instruqciebiT da moTxovnebiT gansazRvrul vadebsa da moculobebSi.2008 wels remontisaTvis gaRebulma faqtobrivma xarjebma Seadgina 1,847.82 aTasi lari, racgegmiT gaTvaliswinebulze 70.79 aTasi lariT naklebia. qvemoT warmodgenilia SesrulebulsamuSaoebis struqtura da aRweriloba.eleqtruli qselebis remonti 2005 – 2008 wlebSi(aTasi lari)№№ dasaxeleba2005 2006 20072008 weliweli weli weli gegma faqt.gadaxra(+/-) %1 2 3 4 5 6 7 8 91 sayrdenebi 7.0 5.3 43.9 - 42.95 42.95 -2 sadenebi 60.0 47.7 1,233.3 1,711.13 51.02 -1,660.11 -97.03 kabelebi 963.0 1,210.3 668.5 - 951.99 951.99 -4 mowyobiloba qvesadgurebze 236.0 184.0 527.0 - 424.15 424.15 -5 sxva obieqtebi eleqtrul qselebSi 274.0 134.0 316.1 - 224.48 224.48 -6 arasawarmoo sferos obieqtebi - - 197.4 207.47 153.21 54.26 26.15sul 1,540 1,581.3 2,986.2 1,918.6 1,847.82 -70.79 -3.7remontebis struqtura 2008 wels12%8%2% 3%sayrdenebisadenebikabelebimoywobilobebi. qs-ze23%52%sxva obieq. el.qselebSiarasaw. sferos obieqtebi25

Sesrulebuli samuSaoebis aRwera:sayrdenebi. faqtobrivma danaxarjebma Seadgina 42.95 aTasi lari – sayrdenebis Semowmeba dagamagreba, traversebis da damiwebis konturis (elementebis) remonti da Secvla.sadenebi. faqtobrivma danaxarjebma Seadgina 51.02 aTasi lari – sadenebis gawyvetis dagadawvis (izolatoris yelze, malze) SemTxvevaSi zomamcire monakveTebiT remonti da Secvla,sadenebis daWimulobis regulireba, sahaero xazebze gabaritebis darRvevis aRmofxvra. samagriarmaturis manWvlisebri izolatorebis remonti da Secvla.kabelebi. faqtobrivma danaxarjebma Seadgina 951.99 aTasi lari – kabelis saavario remontidazianebis adgilebSi – quroebis (SemaerTebeli da kiduri) dayeneba sakabelo CanarTiT. sakabeloxazis zomamcire monakveTebis saavario remonti – gadamwvari (darRveuli) monakveTis Secvlis,SemaerTebeli quroebis dagrovebis monakveTis amoWris da dabrkolebis acilebis mizniT.mowyobiloba qvesadgurebze. faqtobrivma danaxarjebma Seadgina 424.15 aTasi lari –mowyobilobis revizia da regulireba, mowyobilobis dazianebuli da gacveTili arasabazoelementebis, saltesadenebis, SeerTebebis, damiwebis konturis, metalokonstruqciebis, karadebisada karebis remonti da Secvla. transformatorebisa da sxva zeTSevsebuli aparatebis zeTiTSevseba, Senobebis Senaxva, saketebis dayeneba, ganaTebis remonti da naTurebis Secvla, warwerebisSesruleba.sxva obieqtebi eleqtrul qselebSi. faqtobrivma danaxarjebma Seadgina 224.48 aTasi lari –qvesadgursgare mowyobilobis remonti, gazomvis saSualebaTa da aRricxvis kvanZebis remonti,xelsawyoebis SeZena da remonti, laboratoriuli mowyobilobis makompleqteblebisa dasatransformatoro saamqros teqnologiuri mowyobilobis remonti da sxva.arasawarmoo sferos obieqtebi. faqtobrivma danaxarjebma Seadgina 153.21 aTasi lari.26

1.6. saqmianoba energogasaRebis dargSi1.6.1. satarifo politikasazogadoebisTvis tarifs adgens saqarTvelos energetikis da wyalmomaragebis erovnulimaregulirebeli komisia (sewmeki) sazogadoebis mier wardgenili Sesabamisi ganacxadis ganxilvisSemdeg. tarifis Secvlis Sesaxeb ganacxadis wardgenis ufleba sazogadoebas aqvs weliwadSiorjer. saangariSo periodSi moqmedebda semek-is 2006 wlis 15 maisis №18 dadgenilebiT dadgenilitarifebi (yvela tarifi moyvanilia dRg-s gareSe):eleqtroenergiis ganawilebis tarifebi№№ Zabva TeTri/kvt sT1 220/380 volti (saSualod) 8.082 6 - 10 kilovolti 7.1383 35 - 110 kilovolti 1.8eleqrtoenergiis samomxmareblo tarifebieleqtroenergiis Sesyidvis tarifebi ss “Telasis’ momxmareblebisTvis№№ Zabva TeTri/kvt sT1 220/380 volti (saSualod) 13.562 6 – 10 kilovolti 12.6183 35 – 110 kilovolti 7.28mosaxleobis socialuri dacvis damatebiTi garantiebis Sesaqmnelad daeleqtroenergiis racionaluri gamoyenebis xelSewyobisTvis, Tbilisis macxovreblebisTvis,romlebic arian ss “Telasis” abonentebi 220/380 volt Zabvaze, eleqtroenergiis Sesyidvistarifebi dadgenilia moxmarebuli eleqtroenergiis moculobis Sesabamisad:№№ TveSi moxmarebuli eleqtroenergiis raodenoba TeTri/kvt sT1 100 kvt-sT CaTvliT 11.4242 101 kvt-sT-dan 300 - mde CaTvliT 13.563 301 kvt-sT da zemoT 14.998eleqtroenergiis Sesyidvis tarifebi (sabiTumo) gamanawilebeli kompaniebisa da pirdapirimomxmareblebisTvis№№ dasaxeleba TeTri/kvt sT1warmoebis saSualoSewonili tarifi (importisa da eleqtroqselSi 4.61523normatiuli danakargebis komponentis CaTvliT)eleqtroenergiis gadacemis tarifebi:a) Sps “saqarTvelos saxelmwifo eleqtrosistema”: 35-110-220 kv6-10 kvb) ss «saqrusenergo»0.5351.1150.18eleqtroenergiis dispetCerizaciis tarifi (Sps “saqarTvelossaxelmwifo eleqtrosistema”)0.15sul: 35_110_220 kilovolti 5.48sul: 6_10 kilovolti 6.0627

momsaxureba eleqtroenergiis tarnzitze№№ Zabva TeTri/kvt sT1 220/380 v (saSualo) 3.62 6 - 10 kv 2.593 35 - 110 kv 1.275eleqtroenergiis mwarmoeblebisTvis gayidvebis dadgenili tarifebi(ss”Telasis” momwodeblebi 2008 w)№№ dasaxelebaganzomilebiserTeulimaCvenebeli1 2 3 41 Sps «mtkvari energetika» lari/kvt sT 0.091102 ss «xramhesi - 1» lari/kvt sT 0.017603 ss «xramhesi - 2» lari/kvt sT 0.015104 orTaWalhesi lari/kvt sT 0.025005 engurhesi lari/kvt sT 0.011876 xadori hesi lari/kvt sT 0.071607 vardnilhesi lari/kvt sT 0.011708 Jinvalhesi lari/kvt sT 0.018309 eleqtroenergiis komerciulilari/kvt sT 0.05463operatori10 Sps «mtkvari energetika» lari/kvt sT 0.0911011 TGR Energy Electricity Trade CO, TurqeTi aSS dolari/kvtsT0.050001.6.2. eleqtroenergiis Sesyidvaeleqtroenergiis Sesyidva xorcieldeba “saqarTvelos eleqtroenergiis (simZlavris) bazriswesebis” Tanaxmad. eleqtroenergiis Sesyidvebis aucilebeli struqtura – kompaniis wliurimoTxovnilebis aranakleb 32% Sesyidul unda iqnes ZviradRirebuli wyaroebisgan. eleqtroenergiisZviradRirebuli wyaroebia – Tes-is mier gamomuSavebuli eleqtroenergia; importirebulieleqtroenergia; axali hes-ebis (romlebic eqspluataciaSi Sevida 01.09.2004-dan) miergamomuSavebuli eleqtroenergia.28

№№dasaxelebaSesyidulieleqtroenergiismoculoba(mln. kvt sT)(mln kvtsT)wili SesyidvissaerTo moculobaSi(%)1 Sesyiduli eleqtroenergia, sul 1935.59 100maT Soris:1.1 Sida bazarze, sul 1754.59 90.64maT Soris:1.1.1 Sps «mtkvari energetika» 195.5 10.11.1.2 ss «xramhesi - 1» 215.9 11.21.1.3 ss «xramhesi - II» 342.4 17.71.1.4 orTaWalhesi 78.4 4.11.1.5 engurhesi 564.4 29.21.1.6 xadori hesi 22.8 1.21.1.7 eleqtroenergiis komerciulioperatori279.2 14.41.1.8 Jinvalhesi 21.0 1.081.1.9 vardnilhesi 35.1 1.81.2 importi 181.0 9.35maT Soris:1.2.1 TGR Energy Electricity Trade CO, TurqeTi 181.0 9.35Sesyiduli eleqtroenergiis struqtura43%mimwodeblebi Sida bazarze57%Rss “inter rao ees”Svilobili kompaniebi29

1.6.3.eleqtroenergiis moxmarebis struqtura2008 wels momxmareblisaTvis eleqtroenergiis sasargeblo gaSvebis saerTo raodenobamSeadgina 1,519.30 mln kvt.sT. qvemoT moyvanilia 2005-2008 wlebis ganmavlobaSieleqtroenergiis moxmarebis struqtura abonentTa kategoriebis mixedviT(mln kvt. sT )2008 weli2005dasaxeleba2006 2007№№weli weli weli gegma faqt.gadaxra(+/-) %1 2 3 4 5 6 7 8 91 mosaxleoba 663.0 728.0 716.8 748.91 781.31 32.40 4.32 komerciuli organizaciebi 439.0 478.0 532.4 569.28 576.54 7.26 1.33 sabiujeto organizaciebi 222.0 90.0 89.5 101.02 89.92 -11.09 -11.04 ltolvilebi - 98.8 64.1 70.97 68.50 -2.46 -3.55centralurimomxmareblebi2.0 4.2 3.4 3.44 3.03 -0.41 -12.0sul 1,326.00 1,339.00 1,406.2 1,493.62 1,519.30 25.69 1.72008 wels eleqtroenergiis moxmarebis struqtura5.9% 4.5% 0.2%37.9%51.4%mosaxleobakomerciuli organizaciebisabiujeto organizaciebiltolvilebicentraluri momxmareblebi1.6.4. eleqtroenergiis gayidvaeleqtroenergiis gayidvis saerTo moculobam 2008 wels Seadgina 204.594 mln lari(dRg-s gareSe), rac gegmiT gaTvaliswinebulze 6.837 mln lariT metia.(mln lari dRg-is gareSe)№№ dasaxeleba2008 weli2005 2006 2007weli weli weli gegma faqtgadaxra(+/-) %1 2 3 4 5 6 7 8 91 mosaxleoba 67.32 86.52 100.09 102.111 108.859 6 .748 6.62 sxva pirdapirimomxmareblebi *69.72 79.06 89.74 95.645 95.735 0.09 0.1sul gayidvebi 137.04 165.58 189.83 197.76 204.594 6.837 3.5*) sxva pirdapiri momxmareblebi: komerciuli seqtori, sabiujeto seqtori, ltolvilebi dacentraluri momxmareblebi.30

1.6.5. moxmarebuli eleqtroenergiis mosakrebelimoxmarebuli eleqtroenergiis mosakreblis saerTo moculobam 2008 wels Seadgina 198,79mln lari, (dRg-s GgareSe), rac gegmiT gaTvaliswinebulze 10 mln lariT metia.(mln lari)№№ dasaxeleba2008 weli2005 2006 2007weli weli weli gegma faqtgadaxra(+/-) %1 2 3 4 5 6 7 8 91 mosaxleoba 60.04 76.28 94.60 94.18 105.63 11.45 12.152sxva pirdapirimomxmareblebi61.67 67.34 86.56 94.61 93.16 -1.45 -1.53sul mosakrebeli 121.71 143.62 181.16 188.79 198.79 10 5.29eleqtroenergiis pirdapir momxmareblebze gayidvebidan mosakrebelma 2008 wels Seadgina –97.2 %, 2007 wlis 95,4 % SedarebiT.1.6.6. saabonento debitoruli davalianebamoxmarebuli eleqtroenergiis saabonento debitoruli davalianebis done 2008 welsSemcirda 2,630.00 aTasi lariT da Seadgina 172,649.00 aTasi lari. qvemoT moyvanilia saabonentodebitoruli davalianebis struqtura (rezervis gaTvaliswinebis gareSe).(aTasi lari)№№ dasaxeleba2008 wlis01 ianvrisTvis2009 wlis01 ianvrisTvisgadaxra(+/-) %1 2 3 4 5 61 mosaxleoba 124,970.00 120,566.00 - 4,404.00 - 42 komerciuli organizaciebi 32,719.00 34,018.00 1,299.00 43 sabiujeto organizaciebi 14,400.00 14,780.00 380.00 34centralurimomxmareblebi3,183.00 3,286.00 103.18 3.2sul 175,279.00 172,649.00 -2,630.00 - 1.52008 wlis debitoruli davalianebis struqtura19%8% 2%71%mosaxleobakomerciuli organizaciebisabiujeto organizaciebicentraluri momxmareblebi31

1.7. sazogadoebis sainvesticio saqmianobasainvesticio saqmianobas sazogadoeba qmnis ekonomikuri efeqturobis da mizanSewonilobisprincipebidan gamomdinare. sainvesticio politikis formirebis mizniT sazogadoebis sameTvalyureosabWos mier mowonebul iqna “ss Telasis” 2006-2008 wlebis periodis saSualovadianisainvesticio programa”, romelSic Camoyalibebulia, sazogadoebis saqmianobis ZiriTadiperspeqtiuli mimarTulebebi: komerciuli danakargebis Semcireba, avariulobis Semcireba,eleqtroqselis saimedoobis da usafrTxoebis amaRleba da sawarmoo simZlavreebis gafarToeba.1.7.1. sazogadoebis 2005-2008 wlebis sainvesticio gegmis Sesrulebasazogadoebis sainvesticio dabandebebma 2008 wels Seadgina 27.449 mln lari, rac 10.305 mlnlariT naklebia 2007 welze da gegmiT gaTvaliswinebulze 10.573 mln lariT naklebia.(mln lari)№№2005 2006 20072008 weliweli weli weli gegma faqt gadaxramaCveneblis dasaxeleba(+/-) %1 2 3 4 5 6 7 8 91 investiciebi mSeneblobasa dagafarToebaSi- - - 14 .553 2.531 -12.022 -82.62 investiciebi rekonstruqciaSi damodernizaciaSi11.759 20.791 36.150 17.033 17.761 0.725 4.3maT Soris:2.1 investiciebi saabonento seqtorSi 7.044 12.170 20.323 7.122 8.362 1.24 17.42.2 investiciebi m/Z da d/Z qselSi 4.715 8.621 15.827 9.911 9.400 -0.512 -5.23 kapitaluri remonti 0.190 0.114 0.503 5.241 4.782 -0.459 -8.84 sxva (Zs da aa sameurneo daniSnulebis) 0.864 1.820 1.101 1.196 2.375 1.179 98.6sul investiciebi ZiriTad kapitalSi 12.813 22.725 37.754 38.022 27.449 -10.573 -27.89%9%17%30%investiciebi mSeneblobasa dagafarToebaSisaabonento seqtorid/Z da m/Z elqselebikapitaluri xasiaTis sxva samuSaoebisxva (sameurneo daniSnulebis Zs da aa)35%32

4035302520151050mln larisul investiciebiZiriTad kapitalSisazogadoebis investiciebis dinamika 2005-2008investiciebisaabonento seqt.investiciebi m/Z da d/ZqselebSikapitaluri remontisxva Zs da ama2005 weli 2006 weli 2007 weli 2008 weliSesrulebuli samuSaoebis aRwera:investiciebi saabonento seqtorSi. saangariSo periodSi sazogadoebis faqtobrivma xarjebmaSeadgina 8.362 mln lari, rac gegmiT gaTvaliswinebulze 1.240 mln lariT metia. SesruldaSemdegi samuSaoebi:• aRricxvis kvanZebis mowyobis kapitaluri samuSaoebi 13 713 abonentisTvis;• Tis-is montaJi saerTo sigrZiT 221 km;• sardafebidan kabelis gatanis samuSaoebi 42254 abonentisTvis;• ekaas-is proeqtis meore da mesame etapebi dasrulda 40 qs-ze.investiciebi maRali Zabvisa da dabali Zabvis qselebSi.saangariSo periodSi sazogadoebis faqtobrivma xarjebma Seadgina 9.400 mln lari rac gegmiTgaTvaliswinebulze 0.512 mln lariT naklebia. Catarda gm-s qs-iT 110 (35), 10(6) SecvlissamuSaoebi, ganxorcielda egx 35, 10(6), 0.4 kv Secvla. aRniSnuli gadaxra ganpirobebuliaproeqtebis nawilis dafinansebis 2009 wlisTvis gadataniT (Rgm da omp rekonstruqcia qs“mTawmindaze”), vinaidan saxsrebi mimarTuli iqna komerciul proeqtebze, kerZodaRricxvis kvanZebis mowyobaze.kapitaluri remonti. investiciebma sawarmoo da arasawarmoo Senobebisa da nagebobebis kapitalurremontSi Seadgina 4.782 mln lari, rac 0.459 mln lariT naklebia gegmiT gaTvaliswinebulze.ganxorcielda, rogorc sawarmoo, ise arasawarmoo Senoba-nagebobebis kapitaluri remonti.sxva saxis dabandebebi Zs-sa da aa-Si. 2008 wlis ganmavlobaSi sazogadoebis xarjebma ZiriTadisaSualebebsa da aramaterialur aqtivebze Seadgina 2.375 mln lari rac gegmiT gaTvaliswinebulze1.179 mln lariT metia. gadaxra ganapiroba sazogadoebis moZvelebuli avtoparkis ganaxlebamsaangariSo periodSi. Senobebis qiravnobaze xarjebis Semcirebis mizniT, 2008 wels sazogadoebamSeiZina Senoba abonentTa momsaxurebis centrisTvis.1.7.2. 2008 wels sainvesticio saqmianobis dafinansebis wyaroebi2008 wlis ganmavlobaSi proeqtebisa da samuSaoebis dafinansebis wyaroebs warmoadgenssazogadoebis sakuTari saxsrebi. cxrilSi warmodgenilia investiciebis dafinansebis satruqtura.33

(aTasi lari)№№ muxlebis dasaxeleba gegma faqtgadaxra(+/-) %1 2 3 4 5 61 sakuTari saxsrebi, sul 21,159.94 27,449.35 6,289.37 29.7maT Soris::1.1 daricxuli amortizacia 8,102.38 4 ,904.99 -3,197.39 -39.51.2 mimdinare wlis mogeba 13,057.56 18, 908.57 5,851.01 44.81.3. sxva sakuTari wyaroebi 0.00 3,635.79 3,635.79 -2 moziduli wyaroebi, sul 16,862.57 0.00 -16,862.57 -100maT Soris:2.1 sabanko kreditebi 16,862.57 0.00 -16,862.57 -1002.2 sesxebi - - - -aqedan korporaciuli sesxebi - - - -sul 38,022.51 27,449.35 -10,573.15 -27.8SeniSvna: korporaciul sesxebs miekuTvneba yvela saxis sasesxo operaciebi inter rao ees-is jgufiskompaniebTan, sasesxo xelSekrulebebis, cesiebis, savalo fasiani qaRaldebis yidvis da sxv. CaTvliT.investiciebis dafinansebis struqtura 2008 wels7%34%50%sakuTari saxsrebi suldaricxuli amortizaciamimdinare periodis mogeba9%sxva sakuTari ywaroebi1.7.3. sazogadoebis 2008 wlis sainvesticio gegmebi2009 wels sazogadoebis sainvesticio dabandebebi Seadgens 28.261 mln lars. amasTan,sazogadoeba gegmavs investiciebis dafinanseba ganaxorcielos, ZiriTadad, sakuTari saxsrebiT. maTSoris sainvesticio programiT gaTvaliswinebulia Semdegi proeqtebis realizacia:• «aRricxvis kvanZebis gamotana da qselis mowesrigeba» 2000 abonentisTvis;• «Tis-is montaJi» 50 km;• «kabelebis gamotana sardafebidan» 5000 abonentisTvis;• «axali abonentebis mierTebis mizniT qselis rekonstruqcia da gafarToeba»;• m/Z da d/Z qselebis gadaiaraRebaze mimarTuli investiciebi.34

1.8. saqmianoba Sesyidvebis dargSi1.8.1. zogadi cnobebi. Sesyidvis saqmianobis organizebaSesyidvis saqmianoba ss “TelasSi” xorcieldeba saqarTvelos kanonmdeblobis da “ss “Telasis”saWiroebisaTvis saqonlis, samuSaoebis, momsaxurebis reglamentirebuli Sesyidvis wesis Sesaxeb”debulebis safuZvelze, romelic ss “Telasis” sameTvalyureo sabWom 2005 wlis 14 noembersdaamtkica (oqmi № 11). qvemoT moyvanilia ss “TelasSi” Sesyidvebis miRebuli sqema, sazogadoebisim struqturuli erTeulebis miTiTebiT, romlebic pasuximgebeli arian Sesyidvis garigebisorganizaciasa da gaformebaze.RiakonkursifasebisRia/daxurulimoTxovnawinadadebebisRia/daxurulimoTxovnaSesyidvaerTaderTiwyarosgansakonkursoSesyidvebikonkurs gareSe reglamentirebuli Sesyidvebireglamentirebuli Sesyidvebilogostikisdepartametiss “Telasis” saWiroebisTvis saqonlis, samuSaoebis,momsaxurebis Sesyidvaarareglamentirebuli Sesyidvebieleqtroenergiis Sesyidvebisdepartamentieleqtroenergiis Sesyidva. satranzitomomsaxureba da erovn. energobazrisinfrastruqt. organiz. momsaxurebamomsaxureba daxarjebi pirdapirixelSekrulebebiTlogostikisdepartametisxva Sesyidvebi pirdapirixelSekrulebebiT( 12500 laramde)sazogadoebasTanurTierTobis departamentisabuRaltro aRricxvis daangariSgebis departamentisakonsultacio, sainformacio, iuridiuli, notariuli da auditorulimomsaxureba. reklamisa da marketingis xarjebi. personalis kvalifikaciisamaRleba da swavleba. warmomadgenlobiTi xarjebi. dazRvevis xarjebi. dacvisada usafrTxoebis xarjebi.personalis marTvisdepartamentiiuridiulidepartamentiadministraciulidepartamentiekonomikisa da finansebisdepartamentisazogadoebaSi reglamentirebul SesyidvebTan dakavSirebuli garigebebis gaformebasa daorganizebas axorcielebs calke struqturuli qvedanayofi – logistikis departamenti.eleqtroenergiis Sesyidvebis departamenti axorcielebs eleqtroenergiis SesyidvebTan,eleqtroenergiis satranzito da erovnuli energobazris infrastruqturuli organizaciebismomsaxurebasTan dakavSirebuli garigebebis gaformebasa da organizebas. pirdapiri xelSekrulebebiT35

garigebebis organizeba da gaformeba, saqmianobis mimarTulebis Sesabamisad, xorcieldebasazogadoebis pasuxismgebeli struqturuli qvedanayofebis mier.1.8.2. cnobebi 2008 wlis Sesyidvebis Sesaxeb2008 wlis ganmavlobaSi Sesyidvebi xorcieldeboda Sesyidvebis damtkicebuli wliurikompleqsuri programis safuZvelze. Catarda 172 konkursi da reglamentirebuli konkursgareSeSesyidva. saangariSo periodSi ss ”TelasisTvis” saWiroebisTvis momsaxurebis, saqonlis, samuSaosSesasyidad gaRebuli faqtobrivi xarjebis saerTo moculobam Seadgina 35,900 mln lari, racdagegmilTan SedarebiT 11,627 mln lariT naklebia. aqedan 26,670 mln lari (faqtobrivi SesyidvebissaerTo moculobis 74,29 %) Seadgina sakonkurso SesyidvebisaTvis gaRebulma xarjebma, xolo 9,230mln lari (faqtobrivi Sesyidvebis saerTo moculobis 25,71 %) reglamentirebuli konkursgareSeSesyidvebisaTvis gaRebulma xarjebma.2008 wels wkSp-is Seusrulebloba gamowveuli iyo sazogadoebis 2008 wlis biznes-gegmiskoreqtirebiT. qvemoT cxrilSi moyvanilia angariSi 2008 wlis ganmavlobaSi wkSp-is SesrulebisSesaxeb.reglamentirebuli Sesyidvebis struqtura Sesyidvebis saxeobis mixedviT 2008 wlisganmavlobaSi№№ dasaxeleba raodenobaSesyidvebissaerToRirebuleba dRgsCaTvliT (mlnlari)%SesyidvebissaerToTanxidan1 2 3 4 51 Ria konkursi 54 26,669,932.57 74.282 fasebis Ria moTxovna 44 2,277,046.19 6.343 fasebis daxuruli moTxovna 20 1,110,071.11 3.094 winadadebebis Ria moTxovna 4 126,341.32 0.355 winadadebebis daxuruli moTxovna 13 971,277.40 2.716 Sesyidva erTaderTi wyarodan 28 2,666,132.71 7.437Sesyidva erTaderTi wyarodan (ar Semdgari Riaprocedurebis Sedegebis mixedviT)8 2,073,861.84 5.788 Sesyidvis Ria procedurebi 1 6,231.00 0.02sul 172 35,900,894.14 10036

eglamentirebuli Sesyidvebis struqtura saqmianobis saxeobebis mixedviT 2008 wlis ganmavlobaSi№№ dasaxeleba raod-baSesyidvebissaerToRirebuleba dRgsCaTvliT(lari)%SesyidvebissaerToTanxidan1 2 3 4 51axali mSenebloba da eleqtroqseluri obieqtebisgafarToveba- - -2eleqtroqseluri obieqtebis rekonstruqcia dateqnikuri gadaiaraReba68 24,192,397.42 67.393energosaremonto (saremonto) warmoeba, teqnikurimomsaxureba50 5,319,907.74 14.824 st –Sesyidvebi 24 1,169,350.48 3.265samecniero-teqnikuri da sacdel-sakonstruqtorosamuSaoebi- - -6 sakonsultacio momsaxureba 1 207,444.00 0.587 SemfasebelTa momsaxureba 1 16,436.00 0.058 sxva Sesyidvebi 28 4,995,358.50 13.90sul 172 35,900,894.14 10037

1.9. sazogadoebis kavSirgabmulobis qselis da sainformacio teqnologiebis ganviTareba1.9.1. ss “Telasis” kavSirgabmulobis korporaciuli qseliss “Telasis” korporaciuli kavSirgabmulobis qseli, ZiriTadad, Seqmnilia magistralurisakabelo, kavSirgabmulobis radiosareleo xazebis da sxvadasxva tipis radiosadgurebis bazaze.korporaciuli qselis kavSirgabmulobis uzrunvelyofacentralur ofisSi sarTulebs Soris kavSiri, aseve uaxloes Senobebs Soris kavSirixorcieldeba optikur-boWkovani kabelebiT. centralur ofissa da amc da maRali Zabvisqvesadgurebs Soris xorcieldeba optikur-boWkovani kabelebiT, usadeno korporaciuli kavSiriT(Wireles), rogorc korporaciuli qseliT, aseve q. Tbilisis sami operatoris meSveobiT: Wanex,Caucasus, Delta-Net, Georgia Telecom. centraluri ofisis kavSiri “saqenergosTan”, fostasa dabankebTan xorcieldeba optikur-boWkovani kabelebiT. monacemTa gadacema da miReba daSifrulia.organizaciuli uzrunvelyofasazogadoebis kavSirgabmulobis qselis da sainformacio teqnologiebis ganviTarebissamuSaoebis organizebas axorcielebs sainformacio teqnologiebis departamenti, romelicuSualod eqvemdebareba sazogadoebis generalur direqtors. TanamSromelTa saerTo raodenoba – 27adamiani.korporaciuli qselis programuli uzrunvelyofa● Сheck Point – dacvis, marTvis da uSiSroebis programuli uzrunvelyofa.● Cisco Works 2000 – Cisco-s moywobilobaTa distanciuri marTvis programa.● Trend-Micro - korporaciuli antivirusuli programa.● MS Exchange – ss “Telasis” eleqtronuli fostis programa.● Radmin 3.0 – kompiuterebis distanciuri marTvis programa.№№ dasaxelebagamoTvliTi teqnikis saSualebebiT (gts) aRWurvaraod-ba(erTeulebis)akmayofilebsteqnikurmoTxovnebsmaTgansaWiroebsmodifikaciassaWiroebsSecvlas1 2 3 4 5 61 pk, muSa sadgurebi 582 - - -2 periferiuli mowyobilobebi 197 157 - 403 aqtiuri qseluri aRWurviloba 115 70 30 154 serveruli aRWurviloba 62 43 2 171.9.2. ass “Telasi” da regionebis daSorebuli wertilebiteqnologiuri kavSirgabmulobis organizebis mizniT ss “TelasSi” gamoiyeneba ass “meridiani”500 nomeris tevadobiT (tevadobis gazrdis teqnikuri SesaZlebloba 2000 nomramde). centraluriifisi, maRali Zabvis 19 qvesadguri, abonentTa momsaxurebis centrebi: «gldani», «naZaladevi» da«mTawminda» mierTebulia sxvadasxva Ssk. satelefono kavSiris uzrunvelsayofad gamoiyeneba:38

optika: ori nakadi 30 xazis gavliT, sul 60 xaziCOM-mde (GSM Operator).ass 77-mde, erTi nakadi - 30 xazi MAGTIspilenZis gayvaniloba: 100 spilenZis gareTa wyvili ass 34-mde (kavSiri qvesadgurebTan,kompleqsur qvesadgurebTan da sxva obieqtebTan), romelTagan 8 xazi gamoiyeneba Call Centre da 12qalaqTan kavSirisTvis, 9 satranzito xazi.kavSiri regionebSi: 121 saqalaqo nomeri amc-Si, 22 saqalaqo nomeri gamanawilebebli qselisdepartamentis raionul ubnebTan, 27 saqalaqo nomeri m/Z qvesadgurebTan, 50 radiotelefoni m/ZqvesadgurebTan.racia: 201 racia, aqedan 178 mobiluri, 23 – stacionaruli.sakabelo meurneoba: КСПП 1х4 – 5162 m, ЭКБП 1х4 – 2730 m, ТПП 100х2 – 2025 m, ТПП 100х2 –1126 m, МКС 4х4 – 4250 m, optika – 7356 m.1.9.3. sazogadoebis sainformacio teqnologiebi da biznes-procesebis marTvaenergogasaRebis mimarTuleba:● «bilingis» sistema:- momxmarebelTa gamorTva-CarTvis moduli.- brjenebis (mricxvelebis, denis da Zabvis transformetoebis) moduli.● balansebis sistema 6/10 kv «fideri – sq».● komerciuli danakargebis lokalizaciis programuli kompleqsi LCL.● pretenziebis moduli.teqnikuri mimarTuleba:● sistema gss.● qselis pasportizaciis sistema.● qselis sadispetCero marTvis sistema (damuSavebis stadiaSia).finansuri mimarTuleba:● gadasaxadebis miRebisa da bilingis sistemaSi eqsportis moduli.● finansuri sistema (Exact):● sawyobis moduli.● aqtivebis moduli.● xelfasebis moduli.● dokumentebis arqivaciis sistema.● personalis marTvis sistema.gare servisebi:● Tbilisis wyalkanali● Tbilisis dasufTavebis samsaxurisainformacio nakadebis marTva xorcieldeba ss “Telasis” erTiani korporaciuli qselissistemaSi.2008 wlis mniSvnelovani Sedegebia:- centralur ofissa da mZqs (qs 35-110 kv) Soris usadeno korporaciuli kavSiris proeqtisrealizacia;- ss “Telasis” 50 mZqs-ze ekaas proeqtis dasruleba.39

1.10. sazogadoebis momavali wlis amocanebi da saqmianobis perspeqtivebi. strategiuli amocanebisgadawyvetasainvesticio programis realizaciis dasruleba 2009 wels dadebiTad aisaxebasazogadoebis saqmianobis finansur Sedegebze. qvemoT cxrilSi moyvanilia “ss “Telasis” mogebisada danakargebis gegma-prognozi 2009–2014 wlebis periodisaTvis”, romelic efuZneba saqarTvelosparlamentis 2006 wlis 7 ivnisis №3190 dadgenilebiT damtkicebul “saqarTvelos energetikulseqtorSi saxelmwifo politikis ZiriTadi mimarTulebebis Sesaxeb” saqarTvelos energobalanss,iTvaliswinebs efeqts sainvesticio programidan da moicavs Semdegi finansuri da ekonomikurimaCveneblebis miRwevas:maCveneblis dasaxelebazomiserTeuli2009 2010 2011 2012 2013 2014gegma prog. prog. prog. prog. prog.1 2 3 4 5 6 7 8amonagebi aTasi lari 212,768 225,053 230,724 236,543 242,516 248,644xarjebi eleqtroenergiis aTasi lari (95,545) (115,148) (119,772) (124,402) (129,142) (133,996)SesyidvazesamarJo mogeba aTasi lari 117,223 109,905 110,952 112,142 113,373 114,648xarjebi xelfasebze aTasi lari (41,518) (43,000) (44,500) (46,000) (47,500) (49,000)sxva saoperacio da aTasi lari (31,180) (21,959) (23,453) (24,015) (24,400) (25,022)arasarealizacio xarjebiEBITDA aTasi lari 44,525 44,946 42,999 42,126 41,473 40,626xarjebi amortizaciaze aTasi lari (6,172) (5,740) (6,085) (6,450) (6,837) (7,247)sufTa procentuli aTasi lari (12,540) (14,616) (12,262) (11,414) (11,299) (11,421)xarjebimogeba dabegvramde aTasi lari 25,813 24,590 24,652 24,262 23,338 21,958mogebis gadasaxadi aTasi lari (6,319) (6,342) (6,319) (6,226) (6,049) (5,800)wminda mogeba aTasi lari 19,494 18,248 18,333 18,037 17,289 16,1582010 wlidan dawyebuli amonagebis saSualo wliuri zrda Seadgens 2,5%, rac, Sedegad,uzunvelyofs wminda mogebis dadebiT dinamikas. 2009-2014 wlebSi sazogadoeba ganaxorcielebsxelSemwyob investiciebs Semdegi moculobiT:(aTasi lari)maCveneblis dasaxeleba 2009weli2010weli2011weli2012weli2013weli2014weliinvesticiebi Zs-Si 24 837 17 782 21 702 20 832 21 460 17 6692010-2014 wlebSi sazogadoeba gegmavs Semdegi sainvesticio proeqtebis da kapitaluri samuSaoebisCatarebas saerTo TanxiT 99,446.12 aTasi lari:‣ investiciebi saabonento seqtorSi;‣ investiciebi maRali Zabvis da dabali Zabvis qselebSi;‣ qselis gafarToeba da rekonstruqcia axali abonentebis misaerTeblad;‣ kapitaluri remonti;‣ sxva investiciebi Zs-Si da aramaterialur aqtivebSi.a) sawarmoo da sxva obieqtebis mSeneblobis da gafarToebis, rekonstruqciis damodernizaciis proeqtebi40

2010-2014 wlebSi sazogadoeba gaagrZelebs investiciebis Sesrulebas abonentTa qselisrekonstruqciis da gafarToebis mixedviT 20,762.71 aTasi laris TanxiT.investiciebi saabonento seqtorSi2010-2014 wlebSi sazogadoeba gegmavs investiciebs saabonento seqtorSi 8,474.58 aTasi larisTanxiT. es Tanxa moicavs ekaas dayenebas (samSeneblo samontaJo samuSaoebi d/Z qvesadgurebze) dasadispetCero marTvis sistemas (СКАДА).investiciebi maRali da dabali Zabvis qselebSi2010-2014 wlebSi sazogadoeba gegmavs investiciebs maRali da dabali Zabvis qselebSi 36,101.69aTasi laris TanxiT. es Tanxa moicavs Semdegs:investiciebi m/Z da d/Z qselebSi‣ 110(35) kv q/s-ze g/m Secvla (rekonstruqcia) -‣ 10(6) kv q/s-ze g/m Secvla (rekonstruqcia) -‣ 35-10(6), 0.4 kv egx Secvla (rekonstruqcia) -16,101.69 aTasi lari;12,288.14 aTasi lari;7,711.86 aTasi lari.b) sxva sainvesticio proeqtebi, arasawarmoo sferos ganviTarebis CaTvliT.kapitaluri samuSaoebi2010-2014 wlebSi sazogadoeba gegmavs Semdegi kapitaluri remontebis Catarebas maRali da dabaliZabvis qselebSi da aRricxvis arsebuli kvanZebis aRsadgenad saerTo TanxiT 20,899.79 aTasi lari.‣ sxva kapitaluri samuSaoebi (teqn. nawili) - 7,415.25 aTasi lari;‣ sxva kapitaluri samuSaoebi (sameurneo nawili) - 1,694.92 aTasi lari;‣ aRricxvis arsebuli kvanZebis aRdgena (masalebi) - 6,355.93 aTasi lari;‣ energosaremonto sawarmo (sxva m/Z) - 4,661.92 aTasi lari;‣ energosaremonto sawarmo (sxva d/Z) - 264.20 aTasi lari;‣ energosaremonto sawarmo (ekaas) - 508.47 aTasi lari.sxva investiciebi Zs-Si da aramaterialur aqtivebSi2010-2014 wlebSi sazogadoeba gegmavs ZirTadi saSualebebis da aramaterialuri aqtivebisSesyidvebis dafinansebas 13,207.34 aTasi laris TanxiT..‣ saTavsoebi da miwa - 5,396.49 aTasi lari;‣ instrumentebi - 847.46 aTasi lari;‣ avtotransporti - 4 443.95 aTasi lari;‣ orgteqnika da kompiuterebi - 2,546.44 aTasi lari.41

Tavi II. sawarmos qoneba2.1. sazogadoebis ZiriTadi saSualebebi2008 wlis 1 ianvridan kompaniam Secvala Tavisi saaRricxvo politika im ZiriTadsaSualebebTan mimarTebiT, romlebic amJamad asaxulia gadafasebul RirebulebaSi. gadafasebisSedegad Rirebulebis gazrdis aRiareba xdeba uSualod ZiriTadi saSualebebis gadafasebisrezervebSi, odenobiT, romelic ar aRemateba Rirebulebis wina Semcirebas an RirebulebisSemcirebis Sedegagad miRebul zarals, rac asaxulia mogebisa da zaralis Sesaxeb angariSSi.Rirebulebis Semcirebis aRiareba xdeba mogebisa da zaralis Sesaxeb angariSSi, odenobiT, romelicar aRemateba sakuTar kapitalSi asaxuli Rirebulebis wina zrdas, aseT SemTxvevaSi asaxva xdebauSualod sakuTar kapitalSi. gadafasebis TariRisTvis dagrovili nebismieri amortizaciislikvidacia xorcieldeba aqtivis mTliani Tanxis xarjze, xolo sufTa naSTis dadgena xdebaTavidan, aqtivis gadafasebuli Tanxis mixedviT. rodesac xdeba aqtivis Camowera, namatigadafasebidan gadatanil unda iqnes gaunawilebel mogebaSi.amortizacia. amortizaciis aRiareba xdeba mogebisa da zaralis Sesaxeb angariSSi, individualuriaqtivebis sasargeblo gamoyenebis vadaze Tanabari daricxvis meTodis gamoyenebiT. aqtivisamortizacia iwyeba maSin, rodesac igi xelmisawvdomi xdeba gamosayeneblad. miwis amortizacia arxdeba. qvemoT moyvanilia sxvadsxva aqtivis sasargeblo gamoyenebis savaraudo vada:• miwis nakveTebisasargeblo gamoyenebis vada SeuzRudavia• Senobebi50 wlamde• manqanebi da mowyobilobebi 15-dan 30 wlamde• sakuTno da inventari5-dan 15 wlamde• avtosatransporto saSualebebi5 welisabalanso Rirebuleba saangariSo periodis 31 dekembris mdgomareobiT(aTasi lari)№№ dasaxeleba 2005weli2006weli2007weli2008weli1 2 3 4 5 61 miwa 7,117 6,869 37,281 25,0652 Senobebi 11,717 11,546 5,704 7,1513 manqanebi da mowyobilobebi 26,529 32,933 49,230 75,3364 sakuTno da inventari 4,766 4,204 4,810 5,1505 avtosatransporto saSualebebi 3,072 2,884 2,943 3,5046 dausrulebeli mSenebloba 2,382 5,436 6,024 5,3367 saTadarigo nawilebi 2,368 6,362 12,086 9.557sul 57,951 70,234 118,078 131,099saTadarigo nawilebSi igulisxmeba sagnebi, romlebic gamoiyeneba kompaniis ZiriTadi saSualebebiselementebis remontisa an SecvlisaTvis, magaliTad satransformatoro sadgurebis komponentebi dakabelebis monakveTebi. Sesabamisad maTi klasificireba xorcieldeba ZiriTadi saSualebebisfarglebSi, magram maTze ar iricxeba amortizacia maTi Sesabamis aqtivebTan gaerTianebis periodSi,da ar eqvemdebareba gaufasurebas am aqtivis gamoyenebis darCenili vadis mixedviT.2008 wlis 31 dekembris mdgomareobiT, ZiriTadi saSualebebi, 2,812 aTasi laris odenobiT,uzrunvelyofis saxiT Caido saqarTvelos sagadasaxado departamentis msxvil gadamxdelTainspeqciaSi.42

2.2. sakuTrebis marTvass “Telasis” sakuTrebis efeqturi marTva dafuZnebulia, qonebasTan da qonebaze sakuTrebisuflebebTan dakavSirebuli garigebebis momzadebis, ganxilvis da damtkicebis sazogadoebaSi moqmedsistemas.qonebis gankargva xorcieldeba samoqalaqo kanonmdeblobis, “mewarmeTa Sesaxeb”, ”uZravsagnebze sakuTrebis uflebis registraciis Sesaxeb”, “miwis registraciis Sesaxeb”, “saxelmwifosmflobelobaSi arsebuli arasasoflo-sameurneo daniSnulebis miwis marTvis da gankargvis Sesaxeb”saqarTvelos kanonebis, saqarTveloSi moqmedi sxva sakanonmdeblo aqtebis da ss “Telasis”wesdebis Sesabamisad.am dokumentebis Sesabamisad 2006 wlis 25 dekembris №134 brZanebiT damtkicebul iqna“yidvis, ijariT aRebis da sxva saxis tranzaqciebis, romlebic xorcieldeba ss ”Telasis” uZravqonebaze sakuTrebis uflebis gadacemis dros, wesebi”, romlebic gansazRvravs sakuTrebasTandakavSirebuli sxvadasxva garigebebis ganxorcielebis xarisxobriv da raodenobriv kriteriumebs, dass“Telasis” uZravi qonebis tranzaqciebis komisia.amJamad, sazogadoebis wesdeba aris ZiriTadi dokumenti, romelic gansazRvravs ss “Telasis”qonebasTan an qonebaze sakuTrebis uflebebTan dakavSirebul garigebebze gadawyvetilebis miRebiswess. sazogadoebis wesdebis Sesabamisad yvela garigeba klasificirebulia 3 jgufad:1 - garigebebi, romlebTan dakavSirebiT sazogadoebis sameTvalyureo sabWo iRebs gadawyvetilebebs;2 - garigebebi, romelTac ganixilavs sameTvalyureo sabWo sazogadoebis (misi warmomadgenlebis)poziciis gansazRvris Sesaxeb sakiTxis farglebSi, aqcionerTa saerTo krebebis dRis wesrigis dasazogadoebis sameTvalyureo sabWos sxdomaTa sakiTxebis mixedviT;3 - garigebebi, romlebic ar saWiroebs sazogadoebis sameTvalyureo sabWos gadawyvetilebas ansazogadoebis (misi warmomadgenlebis) poziciis gansazRvras sazogadoebis aqcionerTa saerTokrebebis dRis wesrigis da sazogadoebis sameTvalyureo sabWos sxdomaTa sakiTxebTan dakavSirebiT.garigebis 3 jgufidan erT-erTisaTvis mikuTvnebis safuZvlad miCneulia qonebis Rirebuleba(garigebis fasi).pirveli ori jgufisaTvis mikuTvnebul garigebebTan dakavSirebuli gadawyvetilebebisproeqtebis ganxilvisa da momzadebis dros gaTvaliswinebulia dagegmili garigebebis eqspertizisCatareba Rss “inter rao ees”-is korporaciuli centris qvedanayofebis mier maTi kompetenciisSesabamisad, rac mTlianobaSi sazogadoebis da aqcionerTa qonebrivi interesebis dacvis saSualebasiZleva da xels uwyobs sakuTrebis marTvis xarisxis amaRlebas.mesame jgufisaTvis mikuTvnebuli garigebebis ganxilva da damtkiceba xorcieldebasazogadoebis mier sazogadoebis wesdebisa da lokaluri normatiuli dokumentebis Sesabamisad.qonebasTan dakavSirebul garigebebze gadawyvetilebebis miRebis wesi amaRlebssazogadoebis damoukideblobis da pasuxismgeblobas xarisxs, aseve uzrunvelyofs sakuTrebasTandakavSirebul garigebebze gadawyvetilebebis miRebis operatiulobas da amiT zrdis misi saqmianobisefeqturobas, amasTan, uzrunvelyofs sakuTrebis gankargvaze aucilebel kontrols zogadadsazogadoebis aqcionerTa interesebis Tanaxmad.43

Tavi III. sasamarTlo procesi3.1. sapretenzio-sasarCele muSaobasazogadoebis iuridiuli departamenti axorcielebs muSaobas sazogadoebisa da misaqcionerTa kanonieri uflebebisa da interesebis dasacavad saxelmwifo xelisuflebis dammarTvelobis yvela organoSi, dawesebulebaSi, sawarmosa da organizaciaSi sakuTrebis formebismiuxedavad, sagadasaxado dawesebulebaSi, agreTve, saarbitraJo sasamarTloebsa da saerToiurisdiqciis sasamarTloebSi. sasamarTlo procesebi, romlebic 2008 wels ss “Telasis”iuridiul departaments mihyavda, SeiZleba daiyos sxvadasxva kategoriis pretenziebad dasarCelebad (davebad):1. fiqsirebul daricxvebTan dakavSirebuli pretenziebi da sarCelebi. saqarTvelos energetikisada wyalmomaragebis maregulibeli erovnuli komisiis (semek) 1999 wlis #29 dadgenilebisSesabamisad, ss “Telass”, mricxvelebis gareT gamotanamde, mieniWa abonentebze fiqsirebulidaricxvebis ganxorcielebis ufleba. xSirad abonentebi ar eTanxmebian am daricxvebs damimarTaven sasamarTlos. fiqsirebuli daricxvebi xorcieldeba, aseve mricxvelis ararsebobisdros, rac xSirad agreTve davis sagani xdeba.2. daricxvis aqtebTan dakavSirebuli pretenziebi da sarCelebi. 2001 wlis 31 dekembris #15dadgenilebiT, semek-ma miiRo aRuricxavi eleqtroenergiis daricxvis meTodika, romlisSesabamisad, eleqtroenergiis aRricxvis darRveva ss “Telasis” mier unda dafiqsirdes dagaformdes darRvevebis Sesaxeb aqtis saxiT, romelsac Semdeg, Cveulebriv, asaCivrebs abonenti.3. saxelmwifo organoebTan dakavSirebuli pretenziebi da sarCelebi, romlebic ZiriTadadaerTianebs davebs sabaJo da sagadasaxado organoebTan. aseT SemTxvevebSi mosarCeleumeteswilad aris ss ”Telasi”. sasamarTlo Tavs ikavebs precedentis daSvebisagan radgan aseTidaricxvebi – biujetis Sevsebis aprobirebuli meTodia.4. SromiTi davebi, romlebic aerTianebs davebs ss “Telasis” muSebTan da muSakebTan, samsaxuridanganTavisuflebis Taobaze. davebi, romlebic warmoiqmna damqiravebelsa da daqiravebuls SorisSromiTi urTierTobebis procesSi, davebi, romlebic exeba moraluri da materialuri zaralisanazRaurebas, miRebuli sawarmoo travmis Sedegad ss “Telasis” TanamSromelTa invalidobas andaRupvas.5. pretenziebi da sarCelebi, romlebic dakavSirebulia ss “Telasis” abonentebisTvis xanZrisSedegad miyenebuli moraluri da materialuri zaralis anazRaurebasTan. xanZrisSemTxvevaSi, rogorc wesi, aRiZvreba sisxlis samarTlis saqme, tardeba eqspertiza da TuSedegad gamovlinda an damtkicda ss “Telasis” brali, dazaralebuli mxare sasamarTlowesiT iTxovs ss “Telasisagan” miyenebuli moraluri da materialuri zaralisanazRaurebas. im SemTxvevaSi, Tu eqspertiza daadgens ss “Telasis” braleulobas, saqmismogebis Sansebi minimaluria, aseT SemTxvevaSi sadavo xdeba ara TviT xanZris faqti, aramedim Tanxis odenoba, romelic moTxovnili iyo miyenebuli zaralis kompensaciis saxiT.44

sasamarTlo procesebis struqtura kategoriebis mixedviT23%1%1%6%fiqsirebul daricxvasTandakavSirebiTdaricxvis aqtebTan dakavSirebiTsaxelmwifo organoebTandakavSirebiT69%SromiT davebTan dakavSirebiTzaralis anazRaurebasTandakavSirebiT3.2. 2008 wels aRZruli sasamarTlo procesebi№№ dasaxeleba raodenoba(c)Tanxa(lari)1 2 3 41 sazogadoebis mimarT wayenebuli pretenziebi da1880 23 207 035.73sarCelebi2 sazogadoebis mier wayenebuli pretenziebi dasarCelebi20 23 416 114.71sul 1900 46 623 150.443.3. 2008 wels dasrulebuli sasamarTlo procesebi№№ dasaxelebaTanxa (lari)raodenoba(c) sulmaT Sorisdakmayofilda* uari eTqva1 2 3 4 5 61sazogadoebis mimarTwayenebul pretenziebsa da13631 998 757.03 1 467 510.95 531 246.08sarCelebTan dakavSirebiT2sazogadoebis mierwayenebuli pretenziebsa da714 009 246.34 141 094.00 13 868 152.34sarCelebTan dakavSirebiTsul 1370 16 008 003.37 1 608 604.95 14 399 398.42*) ss “Telasis” mimarT da ss “Telasis” mier wayenebul sarCelebsa da pretenziebzesasamrTloebSi ss “Telasis” sasargeblod miRebuli gadawyvwtilebebi.45

2008 wels sasamarTloebis mier miRebuli gadawyvetilebebis struqtura10%90%dakmayofilda ss “Telasis”sasargebloduari eTqvaTavi IV. aqcionerTa saerTo krebaze sakiTxebis gatanasaangariSo periodSi Catarda aqcionerTa ori saerTo kreba – 26.06.2008 da 10.12.2008.krebebi mowveul iqna generaluri direqtoris moTxovniT.2008 wlis 26 ivnisis aqcionerTa saerTo krebasaerTo krebas eswreboda 8 (rva) aqcioneri, romelTa aqciebma jamSi Seadgina xmaTa saerToraodenobis 99.5297 %.dRis wesrigi:1. sazogadoebis 2007 wlis wliuri angariSis, wliuri sabuRaltro angariSgebis, maT Sorismogebisa da zaralis Sesaxeb angariSis, damtkicebis Taobaze.2. sazogadoebis mogebis (an zaralis) ganawilebis Sesaxeb 2007 wlis finansuri maCveneblebismixedviT.3. kompaniis aqcionerebisTvis dividendebis ganawilebis Sesaxeb, 2007 wlis finansurimaCveneblebis mixedviT.4. sazogadoebis auditoris arCevis da misi momsaxurebis gadaxdis odenobis gansazRvris Sesaxeb.miRebulia Semdegi gadawyvetilebebi:1. damtkicdes sazogadoebis 2007 wlis wliuri angariSi, wliuri sabuRaltro angariSgeba,maT Soris mogebisa da zaralis Sesaxeb angariSi.2. sazogadoebis wminda mogeba 2007 wlis SedegebiT – 35 466 800 (ocdaTxuTmeti milionioTxas samocda eqvsi aTas rvaasi) lari – mimarTul iqnes sazogadoebis gasuli wlebis daufaravizaralis dasafarad.3. 2007 wlis finansuri maCveneblebiT dividendebi ar ar iqnas gadaxdili.4. 2008 wels ss `Telasis~ saqmianobis auditis ganmaxorcielebeli organizaciis saxiTdamtkicdes kompania `praisuoterhaus kupersi~.ganisazRvros auditoris anazRaurebis odenoba TanxiT ara umetes 113 000 (as cametiaTasi) aSS dolarisa, dRg-s da damatebiTi xarjebis gareSe.ss `Telasis~ generalurma direqtorma (i. pimonovma), auditoris arCevasTan dakavSirebiT,krebis mier gadawyvetilebis miRebis Semdeg sami Tvis vadaSi dados xelSekruleba zemoT aRniSnulauditorul firmasTan.kenWisyris Sedegebi:dRis wesrigis sakiTxebze: 1, 4 - erTxmad, xmis micemis uflebis mqone aqciaTa (100,0%).dRis wesrigis sakiTxebze: 2, 3 - xmis micemis uflebis mqone aqciaTa xmebis umravlesobiT(99,9%).46

2008 wlis 10 dekembris aqcionerTa saerTo kreba:saerTo krebas eswreboda 2 aqcioneri, romelTa aqciebma jamSi Seadgina xmaTa saerTo raodenobis99.530 %.dRis wesrigi:1. ss “Telasis” wesdebis axali redaqciiT damtkicebis Sesaxeb.2. ss “Telasis” sameTvalyureo sabWos wevris uflebamosilebis vadamde Sewyvetis Sesaxeb.3. sameTvalyureo sabWos axali wevris arCevis Sesaxeb.4. sameTvalyureo sabWos wevrebisTvis 2007 wlis anazRaurebis gadaxdis Sesaxeb.5. ss “Telasis” mier 2008 wlis pirveli naxevarSi miRebuli wminda mogebis nawilis gamoyenebisSesaxeb.miRebulia Semdegi gadawyvetilebebi:1. ss “Telasis” wesdeba axali redaqciiT ar iqnes damtkicebuli.2. ss “Telasis” sameTvalyureo sabWos wevris sergei nikolozis Ze ivanovis uflebamosileba ariqnes Sewyvetili.3. me-3 sakiTxi moixsnas ganxilvidan da dRis wesrigidan.4. 2007 wlis Sedegebis mixedviT, ss “Telasis” sameTvalyureo sabWos wevrebisTvis ar iqnesgacemuli damatebiTi anazRaureba.5. 5-e sakiTxTan dakavSirebiT ar iqnes miRebuli dadebiTi gadawyvetileba da ss “Telasis”generalur direqtors ar mieces ss “Telasis” mier 2008 wlis pirvel naxevarSi miRebuli mogebisnawilis gankargvis ufleba.kenWisyris Sedegebi:dRis wesrigis sakiTxebze: 1, 4 - xmis micemis uflebis mqone aqciaTa xmebis umravlesobiT(75.0007%).dRis wesrigis sakiTxebze: 2, 3, 5 - erTxmad, micemis uflebis mqone aqciaTa (99,530%).Tavi V. sawarmos fasiani qaRaldebiT vaWrobasaaqcio kapitalis zogadi struqtura 2008 wlis 31 dekembrisaTvis Semdegnairad gamoiyureba:sakuTrebaSimesakuTre-beneficiaris saxeli, gvari damisamarTiarsebuli Tanxa dasakuTrebis flobissaxeoba1 2 3 4fasianiqaRaldebisklasiCveulebriviaqciaCveulebriviaqciaCveulebriviaqcia“Silk Road Holdings B.V.” – niderlandisaxelmwifo (saqarTvelo) – saqarTvelosekonomikuri ganviTarebis saministrossawarmoTa marTvis saagento, q. Tbilisifizikuri pirebi60 861 452.00 lariflobis saxeoba -aqciebi19 904 783.00 lariflobis saxeoba -aqciebi381 651.00 lariflobis saxeoba -aqciebisakuTrebaSi arsebulifasiani qaRaldebisklasTa procentuliSemadgenlobasul 81 147 886 aqcia 10075,024,530,4747

“Silk Road Holdings B.V.” da saxelmwifos (saqarTvelo), saqarTvelos ekonomikuri ganviTarebissaministros sawarmoTa marTvis saagentos saxiT, saangariSo periodSi da gasuli 2 (ori) wlisganmavlobaSi saqarTvelos safondo birJaze vaWrobaSi ar miuRiaT monawileoba. qvemoT moyvanilcxrilSi warmodgenilia cnobebi fasiani qaRaldebiT vaWrobaSi monawileobis Taobaze, romelTamflobelebi arian 2 204 aqcioneri – fizikuri piri:maCveneblis2006 weli 2007 weli 2008 welidasaxeleba 1kv.2kv.3kv.4kv.1kv.2kv.3kv.4kv.1kv.2kv.3kv.4kv.1 2 3 4 5 6 7 8 9 10 11 12 13yvelaze maRali fasi 1aqciisaTvis 2,5 1,6 - 1,6 1,5 1,52 1,8 1,55 1,15 1,10 0,80 -vaWrobisas (lari)yvelaze dabali fasi 1aqciisaTvis 1,5 1,6 - 1,0 1,1 1,0 1,5 1,2 1,00 1,00 0,80 -vaWrobisas (lari)vaWrobaSi monawileTaaqciebis raodenoba(aT. c)11,429 6,2 - 1,442 2,1 4,15 6,45 3,3 0,750 2,1 16,0 -fasiani qaRaldebis saerTo raodenoba, romelTa mflobelebic 2006–2008 ww. saqarTvelossafondo birJaze vaWrobis monawile fizikuri pirebi arian, Seadgens 53921 cals, maT Soris:• 2006 weli - 19071 cali• 2007 weli - 16000 cali• 2008 weli - 18850 caliTavi VI. SerCeuli finansuri informacia finansuri maCveneblebikategoriebis mixedviT 2005-2008 wlebSi№№ maCveneblis dasaxeleba 2005weli2006weli2007weli2008weli1 2 3 4 5 61 saoperacio Semosavlebi, mln lari 145.525 173.195 197.237 212.2372 mogeba (zarali) operaciebidan, mln lari 9.799 9.837 - 20.308 54.6393 wminda mogeba, mln lari 6.866 55.258 35.467 83.6304 gayidvebis rentabeloba, % 17% 20% 22% 27.95 mimdinare likvidurobis koeficienti 0.08 0.06 0.07 0.296 swrafi likvidurobis koeficienti 0.04 0.23 0.21 0.257 debitoruli davalianebis brunvadoba, dRe - 98 85 828 wminda mogeba (zarali) aqciaze, lari - 0.10 0.68 0.44 1.0310 aqtivebis jami, mln lari 139.583 151.137 208.690 202.31911 grZelvadiani valdebulebebi, mln lari 1.734 30.240 17.172 67.57212 fuladi dividendebi Cveulebriv aqciaze, lari - - - -48

Tavi VII. sawarmos finansuri mdgomareobis da saqmianobis Sedegebismimoxilva da analizi mmarTveli organos mier7.1 2008 wels sazogadoebis saqmianobis ZiriTadi pirobebiqvemoT moyvanilia ZiriTadi faqtorebi, romlebic aisaxa finansur Sedegebze saangariSoperiodSi:saqmiani garemo. kompania ZiriTad biznes-saqmianobas axorcielebs saqarTvelos farglebSi. saqmianigaremo gasuli wlebis ganmavlobaSi umjobesdeba, magram misTvis jer kidev damaxasiaTebeliaganviTarebadi bazris garkveuli Tvisebebi, maT Soris – valutis arseboba, romelic arkonvertirdeba qveynebis umravlesobaSi saqarTvelos farglebs gareT, SedarebiT maRali inflaciada stabiluri ekonomikuri zrda. saqarTveloSi sagadasaxado, sabaJo kanonmdebloba, agreTvesabuRaltro aRricxvis da angariSgebis sferos kanonmdebloba gansxvavebuli interpretaciisSesaZleblobas iZleva da araerTmniSvnelovan debulebebs Seicavs. saqarTveloSi momavaliekonomikuri stabilurobis perspeqtivebi mniSvnelovanwilad damokidebulia mTavrobis miergatarebuli ekonomikuri zomebis efeqturobaze, samarTlebriv, maregulirebel da politikurganviTarebasTan erTad, rac sazogadoebis kontrols miRmaa.satarifo politika. 2006 wlis 1 seqtembridan `eleqtroenergetikisa da bunebrivi airis Sesaxeb~Secvlili kanonis Tanaxmad eleqtroenergiis sabiTumo bazris nacvlad moqmedeba daiwyoeleqtroenergetikuli sistemis komerciulma operatorma (esko), romlis movaleobebSi Sedissabalanso eleqtroenergiiT vaWroba. aRniSnulTan erTad, aseve Seicvala eleqtroenergiisSesyidvis wesebic.2006 wlis 1 seqtembridan sazogadoebam eleqtroenergiis Sesyidva daiwyo generaciis kompaniebTandadebuli pirdapiri xelSekrulebebiT da qselebSi danakargebis kompensireba eleqtroenergiismwarmoebelTaTvis Sesyiduli eleqtroenergiis gadacemisas 4.41% odenobiT. saqarTvelosenergetikis saministros 2007 wlis 25 aprilis #31 brZanebis Tanaxmad Setanil iqna cvlilebebida damatebebi `eleqtroenergiis (simZlavris) sabazro wesebSi~. cvlilebebi aseve Seexo maRaliZabvis qselebSi danakargebis daricxvis proceduras – normatiuli 4.41%-is nacvlad undadaericxos danakargebis faqtobrivi sidide maRali Zabvis qselebSi. cvlilebebi gavrceldakvalificiur sawarmoTa mimarT periodSi 2006 wlis 1 seqtembridan 2007 wlis 25 aprilisCaTvliT. 2007 wels maRali Zabvis qselebSi danakargebis faqtobrivma sididem Seadgina 1.91% anu36.9 mln. kvt.sT eleqtroenergia.sagadasaxado politika.11.07.07-is # 5280 kanonis Tanaxmad, saqarTvelos sagadasaxado kodeqsSi Sesulia qvemoT moyvanilicvlilebebi, romlebic moqmedebs 2008 wlis 1 ianvridan:• gauqmebulia socialuri gadasaxdi (2008 wlamde moqmedebda ganakveTi – 20%);• saSemosavlo gadasaxadis ganakveTi Seicvala da Seadgina 25% (2008 wlamde moqmedebdaganakveTi – 12%);• mogebis gadasaxadis ganakveTi Semcirda da Seadgina 15% (2008 wlamde moqmedebda ganakveTi –20%).kreditebis saprocento ganakveTi.saangariSo periodSi sasesxo saxsrebis Rirebulebam Seadgina 9.0% - 14%.0 weliwadSi.49

7.2. produqciis, samuSaos, momsaxurebis realizaciiT miRebuli amonagebi2008 wlis ganmavlobaSi produqciis, samuSaos, momsaxurebis realizaciiT miRebulmaerToblivma amonagebma Seadgina 216.445 mln. lari, rac gegmiT gaTvaliswinebulze 5.631 mln. lariTnaklebia. realizaciis saerTo TanxaSi eleqtroenergiis gayidviT miRebulma amonagebma Seadgina204.594 mln. lari, anu amonagebis saerTo raodenobis 94.5 %, qseluri momsaxurebis realizaciiTmiRebulma amonagebma Seadgina 7.748 mln. lari anu amonagebis saerTo odenobis 3.5 %. qvemoTcxrilSi moyvanilia produqciis, samuSaoTa realizaciiT miRebuli amonagebis struqtura:(aTasi lari dRg-is gareSe)2005 2006 20072008 weli№№ maCveneblis dasaxeleba weli weli weli gegmiuri faqtob gadaxra(+/-) %1 2 3 4 5 6 7 8 91234eleqtroenergiisrealizacia137,041.0 165, 583.0 189,830.1 197,757.33 204,594.45 6,837.11 3.5qselur momsaxurebaTarealizacia6,036.0 7,611.3 7,406.9 12,834.00 7,747.93 -5,086.07 -39.6sxva momsaxurebaTarealizacia- 936.8 1,509.1 11,385.66 3,751.39 -7,634.26 -67.1sxva samuSaoTarealizacia338.0 490.3 619.9 99.58 351.61 252.03 253.1sul 143,415.0 174,621.4 199,366.0 222,076.57 216,445.38 -5,631.19 -2.54amonagebis struqtura 2008 wlis ganmavlobaSi3.6%1.7% 0.2%eleqtroenergiis realizaciaqseluri momsaxurebis realizaciasxva momsaxurebis realizaciasxva samuSaoTa realizacia94.5%7.3. warmoebasa da realizaciaze gaRebuli xarjebi2008 wlis ganmavlobaSi produqciis, samuSaos, momsaxurebis realizaciis TviTRirebulebamSeadgina 156.030 mln. lari, rac gegmiT gaTvaliswinebulze 26.501 mln. lariT naklebia.TviTRirebulebis ZiriTadi wili ekuTvnis eleqtroenergiis Sesyidvaze gaRebul xarjebs – 81.247mln. lari, anu TviTRirebulebis saerTo Tanxis 52%, Sromis anazRaurebaze gaRebul xarjebs –40.658 mln. lari anu saerTo xarjebis moculobis 26.1 % da satranzito momsaxurebaze gaRebulxarjebs – 16.572 mln. lari anu saerTo xarjebis moculobis 10.6 %. qvemoT cxrilSi moyvaniliawarmoebasa da realizaciaze gaRebuli xarjebis struqtura.50

(aTasi lari dRg-is gareSe)2005 2006 20072008 weli№№ maCveneblis dasaxeleba weli weli weli gegmiuri faqtob gadaxra(+/-) %1 2 3 4 5 6 7 8 91ZiriTadi saSualebebisamortizacia da4,961.0 4,017.9 3,936.8 8,102.38 4,904.99 -3,197.39 -39.5aramaterialuri aqtivebi2 saremonto xarjebi 2,478.0 1,656.5 3,110.7 1,711.13 1,694.60 -16.53 -1.03sxva saeqspluatacio xarjebi1,722.0 1,670.6 1,628.4 1,379.69 1,318.81 -60.88 -4.44nayidi eleqtroenergiisRirebuleba79,997.0 98,551.1 88,478.6 102,710.20 81,247.34 -21,462.86 -20.95 satranzito momsaxureba 284.0 616.0 16,480.9 17,799.67 16,572.14 -1,227.53 -6.96Sromis anazRaurebaze gaRebuli19,479.0 22,143.1 28,386.5xarjebi39,025.10 40,658.58 1,633.484.27savaldebulo anaricxebi SromisanazRaurebaze3,200.0 4,428.6 5,677.3 0.00 0.00 0.00 0.008warmoebasa da realizaciazegaRebuli sxva xarjebi6,894.0 7,322.3 7,080.4 11,803.99 9,634.45 2,169.54 -18.4sul 119,015.0 140,406.1 154,779.6 182,532.16 156,030.92 -26,501.24 -14.5xarjebis struqtura 2008 wlis ganmavlobaSi26%1% 6% 3%1% 1%remontis xarjebiZiriTadi saSualebebis daaramaterialuri aqtivebis amortizaciasxva saeqspluatacio xarjebiSesyiduli eleqtroenergiisRirebulebasatranzito momsaxureba11%51%xarjebi Sromis anazRaurebazeinfrastruqturuli organizaciebismomsaxurebasxva xarjebi warmebasa darealizaciaze7.4. saoperacio da arasarealizacio Semosavlebi da xarjebisaangariSo periodSi saoperacio da arasarealizacio Semosavlebisa da xarjebis saldom Seadgina45 455.06 aTasi lari, rac dagegmilze 71 941.90 aTasi lariT metia.saldos gazrdis ZiriTad Semadgenels warmoadgens mogebis zrda savaluto saxsrebis gadafasebidanTanxiT 58 098.88 aTasi lari, rac gamowveulia erovnuli valutis kursis gamyarebiT aSS dolarismimarT, saprocento xarjebis SemcirebiT 2 231.03 aTasi lariT, dRg SemcirebiT zenormatiuldanakargebze 1 842.95 aTasi lariT da saeWvo valebze rezervis SemcirebiT 1 921.09 aTasi lariT.51

(aTasi lari)№№maCveneblis dasaeleba2008 weligegmiuri faqtobgadaxra(+/-) %1 2 3 4 5 61 misaRebi procentebi 60.00 118.33 58.33 97.22 gadasaxdeli procentebi 10,008.94 7,777.92 -2,231.03 -22.33 Semosavlebi sxva organizaciebSi monawileobidan - - - -4 sxva saoperacio Semosavlebi 0.00 861.15 861.15 -5 sxva saoperacio xarjebi 1,104.26 3,599.37 2,495.11 226.06 arasarealizacio Semosavlebi 2,106.58 179,018.34 176,911.76 8398.07 arasarealizacio xarjebi 17,540.23 123,165.47 105,625.25 602.28 sul saoperacio da arasarealizacio Semosavlebi 2,166.58 179,997.82 177,831.24 8207.99 sul saoperacio da arasarealizacio xarjebi 28,653.43 134,542.76 105,889.33 369.610saoperacio da arasarealizacio Semosavlebisa daxarjebis saldo-26,486.85 45,455.06 71,941.90 -271.67.5. fuladi saxsrebis moZraobafuladi nakadebis saldo. fuladi saxsrebis naSTma 01.01.09 mdgomareobiT Seadgina 2,863.87 aTasilari, rac dagegmilze 2,597.18 aTasi lariT metia. saangariSoO periodis ganmavlobaSi sazogadoebissaqmianobis Sedegad fuladi saxsrebis nakadebis dadebiTi saldo dagegmilTan SedarebiT gaizarda1,677.16 aTasi lariT da Seadgina 1,241.19 aTasi lari.(aTasi lari)№№maCveneblis dasaxeleba2008 weligegmiuri faqtobgadaxra(+/-) %1 2 3 4 5 61 Semosavlebi saoperacio saqmianobidan 257,250.28 247,884.72 -9,365.55 -3.62 saoperacio saqmianobis xarjebi 218,503.41 204,471.31 -14,032.10 -6.43 sul fuladi nakadi saoperacio saqmianobidan 38,746.86 43,413.41 4,666.55 12.04fuladi saxsrebis Semosavali sainvesticiosaqmianobidan- 34.59 34.59 -5fuladi saxsrebis danaxarji sainvesticiosaqmianobaze44,867.17 29,673.97 -15,193.21 -33.96 sul fuladi nakadi sainvesticio saqmianobidan -44,867.17 -29,639.38 15,227.79 -33.97fuladi saxsrebis Semosavali finansurisaqmianobidan107,460.00 51,334.65 -56,125.35 -52.28 fuladi saxsrebis danaxarji finansur saqmianobaze 101,775.66 63,867.49 -37,908.17 -37.29 sul fuladi nakadi finansuri saqmianobidan 5,684.34 -12,532.84 -18,217.18 -320.510 fuladi saxsrebis naSTi periodis dasawyisisaTvis 702.66 1,622.68 920.02 130.9fuladi saxsrebis Semosavalisa da danaxarjis11 saldo saqmianobis yvela saxeobisaTvis periodisganmavlobaSi-435.97 1,241.19 1,677.16 -384.712 fuladi saxsrebis naSTi periodis dasasrulisTvis 266.69 2,863.87 2,597.18 973.952

7.6 debitoruli da kreditoruli davalianebebis dinamika da analizi7.6.1. debitoruli davalianebadavalianebis done miwodebuli eleqtroenergiisaTvis saangariSo periodSi Semcirda 2 630.39aTasi lariT da Seadgina 172 648.89 aTasi lari.gadauxdelobis riskTan dakavSirebiT sazogadoeba yovelTviurad axorcielebs saeWvo valebisrezervis gadasinjvas, romelmac 2008 wlis 31 dekembris mdgomareobiT Seadgina 130 105.31 aTasilari.saeWvo debitoruli davalianebis rezervis gaangariSeba iyofa 2 nawilad:• saeWvo debitoruli davalianebis rezervis gaangariSeba finansuri angariSgebismosamzadeblad;• saeWvo debitoruli davalianebis rezervis gaangariSeba dagegmvisTvis.saeWvo debitoruli davalianebis rezervis gaangariSeba finansuri angariSgebis mosamzadebladsaeWvo valebis rezervis gaangariSebis gansaxorcieleblad abonentebi iyofa sxvadasxvakategoriebad. ganisazRvreba abonentis davalianeba saangariSo TariRisTvis. nulovani davalianebismqone abonentebze rezervis analizi ar xorcieldeba. jgufisTvis “anulirebuli abonentebi” seWvovalebis rezervi iTvleba 100%-is tolad.danarCen abonentebze, TiToeulze cal-calke, Seiswavlian daricxvebsa da mosakreblebTandakavSirebul monacemebs saangariSo wlisTvis:• im SemTxvevaSi, Tu mosakreblebi aRmoCnda naklebi, vidre daricxva wlis ganmavlobaSi, es niSnavs,rom abonentis vali wlis bolosTvis, Sedgeba wlis ganmavlobaSi daufaravi daricxvebisgan(mimdinare davalianeba) da wlis dasawyisisTvis arsebuli valisgan (Zveli davalianeba). Sesabamisad,rezervi abonentis valis mixedviT gamoiTvleba wlis ganmavlobaSi daricxuli darCenili mimdinaredavalianebis proporciulad.• im SemTxvevaSi, Tu mosakreblebi wlis ganmavlobaSi aWarbebs daricxvas, es niSnavs, rom abonentmawlis ganmavlobaSi dafara Tavisi Zveli davalianebis raRac nawili. mocemuli abonentisTvisganisazRvreba valis dafarvis periodi, kerZod wlebis raodenoba, aucilebeli abonentis valisdasafarad, im pirobiT, rom igi valis dafarvas gaagrZelebs igive tempiT. Semdeg, abonentis wlisbolosTvis arsebul vals gadaiangariSeben misi diskontirebis gziT, valis dafarvis periodisTvissaxsrebis sesxebis saaRricxvo ganakveTiT.saeWvo debitoruli davalianebis rezervis gaangariSeba dagegmvisTvisdagegmvis mizniT gaangariSebis gansaxorcieleblad gamoiTvleba seWvo davalianebebis koeficientisaerTo davalianebis mimarT, zemoT aRniSnul gaangariSebebze dafuZnebiT. es koeficienti mravldebamimdinare debitoruli davalianebis cvlilebaze.7.6.2. kreditoruli davalianebakreditoruli davalianebam eleqtroenergiis mimwodeblebisa da sxva kontragentebis winaSesaangariSo periodis bolosTvis Seadgina 171 442.47 aTasi lari.53

№p/p7.7. sazogadoebis saangariSo periodis buRaltruli balansimuxlebis dasaxeleba(aTasi lari)31.12.07 31.12.08 31.12.08 gadaxrafaqtobr gegmiuri faqtobr (+|-) %1 2 3 4 5 6 7aqtiviI arasabrunavi aqtivebi 148 861 155,597.55 141,130.86 -14,466.69 -9.3II sabrunavi aqtivebi 60 099 53,570.38 61,188.22 7,617.84 14.2balansi 208 961 209,167.93 202,319.08 -6,848.85 -3.3pasiviIII kapitali da rezervebi -671 485 -727,739.22 -73,480.71 654,258.51 -89.9IV grZelvadiani valdebulebebi 17 172 76,905.13 67,572.14 -9,333.00 -12.1V moklevadiani valdebulebebi 863 274 860,002.02 208,227.65 -651,774.37 -75.8balansi 208 961 209,167.93 202,319.08 -6,848.86 -3.37.8. angariSi mogebisa da zaralis SesaxebsaangariSo periodis ganmavlobaSi sazogadoebam miiRo mogeba produqciis, samuSaos damomsaxurebis realizaciidan 216.445 mln. laris odenobiT, rac gegmiT gaTvaliswinebulze 5.631mln. lariT naklebia. samarJo mogebam, Seadgina 117.781 mln. lari, rodesac dagegmili iyo 100.477mln. lari. miRebulia mogeba gayidvebidan 60.414 mln. lari, rodesac dagegmili iyo 39.544 mln.laris odenobis Tanxis mogeba. saoperacio da ara sarealizacio xarjebis saldos aRricxvisSemdeg, mogebam dabegrvamde Seadgina 105.869 mln. lari, rodesac dagegmili iyo 13.057 mln. lari.wminda mogebam Seadgina 83.630 mln. lari. qvemoT cxrilSi moyvanilia sazogadoebis ZiriTadisafinanso Sedegebis struqtura:(aTasi lari)№№maCveneblis dasaxeleba 2006 20072008 weliweli weli gegmiur faqtobgadaxra(+/-) %1 2 3 4 5 6 7 81mogeba (neto) produqciis,saqonlis, samuSaos, momsaxurebis 174,621.4 199,366.0 222,076.57 216,445.38 -5,631.19 -2.5realizaciidan2produqciis, saqonlis, samuSaos,momsaxurebis TviTRirebuleba, 140,433.9 154,779.6 182,532.16 156,030.92 -26,501.24 -14.5komerciuli da marTvis xarjebi3 mogeba (zarali) gayidvebidan 34,187.5 44,586.4 39,544.41 60,414.46 20,870.05 52.84saoperacio da arasarealizacioSemosavlebisa da xarjebis saldo3,901.1 - 20, 833.0 -26,486.85 45,455.06 71,941.90 -271.65mogeba (zarali) gadasaxadiTdabegvramde38,088.7 23,753.5 13,057.56 105,869.52 92,811.95 710.8mimdinare (gadadebuli) mogebisgadasaxadi17,169.0 11,713.4 0.00 -22,239.37 -22,239.376 wminda mogeba (zarali) 55,257.7 35,466.8 13,057.56 83,630.15 70,572.59 540.554

7.9. efeqturobis ZiriTadi maCveneblebieZm dasaxeleba mniSvneloba Sesrulebisgegmiur faqtob Sefaseba1 2 3 4 51 sufTa mogeba, aTasi lari 13 058 83 630 Sesrulebulia2mogeba gayidvebidan, amortizaciis gaTvaliswinebis 47 647 65 319 SesrulebuliagareSe, aTasi lari3 pirobiTi-mudmivi xarjebis limiti, aTasi lari3.1 saeqspluatacio xarjebi, aTasi lari 1 380 1 319 Sesrulebulia3.2 remontis xarjebi, aTasi lari 1 711 1 695 Sesrulebulia3.3 sxva pirobiTi-mudmivi xarjebi, aTasi lari 49 740 49 448 Sesrulebulia4 rentabeloba samarJo mogebis mixedviT, % 45.24 54.42 Sesrulebulia5 ZiriTad kapitalSi investiciebis Sesrulebis gegma5.1faqtiuri maCveneblebis gegmiuridan gadaxris moduliZiriTad kapitalSi investiciebze gamoyofili saxsrebisaTvisebis gegmis maCveneblebis mixedviT, %10.00 9.95 Sesrulebuliafaqtiuri maCveneblebis gegmiuridan gadaxris moduliSesrulebulia5.2ZiriTad kapitalSi investiciebze ZiriTadi saxsrebiseqspluataciaSi Seyvanis gegmis maCveneblebis mixedviT, 10.00 9.74 1%ZiriTad kapitalSi investiciebis fizikuri moculobebisSesrulebulia5.3 aTvisebis damtkicebuli gegmis Sesrulebis done, %. 90.00 100.356 eleqtroenergiis danakargebi qselSi gaSvebisas, % 24.90 19.92 Sesrulebuliaenergoobieqtebis muSaobis saimedoobisa da usafrTxoebis uzrunvelyofa. avariebis mocemuliraodenobis metis ar daSveba, romlebic eqvemdebareba qvemoT CamoTvlil niSnebs:77.1 avariebis raodenoba, romlebic eqvemdebareba qvemoT CamoTvlil niSnebs:afeTqeba an xanZari teqnologiuri Senobebis,Sesrulebulia7.1.1energetikuli obieqtis nagebobaTa sayrdeni elementebisCamongreviT, Tu aRniSnulma gamoiwvia jgufuri ubeduriSemTxveva sasikvdilo SedegiT, erTeuli0 0Zalovani transformatoris dazianeba, Tu aRniSnulmaSesrulebulia7.1.2gamoiwvia generaciis mowyobilobis iZulebiTi gaCerebaan eleqtroenergiis momxmarebelTa SezRudva 25 dRe-Ramis an meti vadiT, erTeuli0 0momxmarebelTa avariuli gamorTvebi jamuri simZlavriTSesrulebulia7.1.3 5,0 mvt meti, an saerTo moxmarebis 50%, erTeuli 0 0eleqtruli qselis muSaobis reJimis darRveva, ramacSesrulebulia7.1.4gamoiwvia momxmarebelTa eleqtromomaragebis Sewyveta24 saaTis da metis ganmavlobaSi, erTeuli0 07.2 mzadyofnis pasportis miReba (arseboba), % 100.00 100.00 Sesrulebulia7.3saremonto programisa da teqnikuri gadaiaraRebisprogramis Sesruleba, %100.00 100.00 SesrulebuliaeZm 5.2 gaangariSebisas mxedvelobaSi iqna miRebuli Semdegi faqtebi:1. semekis 13.03.2008 #7 gadawyvetilebis Sesabamisad damtkicda axali abonentebis mierTebistarifebis axali proeqti (axali proeqtis mixedviT, tarifebi mniSvnelovnad Semcirebulia),romelic ZalaSi Sevida 2008 wlis 5 aprilidan, ramac, Tavis mxriv Seamcira sazogadoebis55

prognozirebadi Semosavllebi. aRniSnuli garemoebis gamo, eZm gaangariSebisas muxliT“investiciebi mSeneblobasa da gafarToebaSi”, gegmiuri maCveneblebi faqtiurs gauTanabres.2. muxliT “investiciebi rekonstruqciasa da teqgadaiaraRebaSi”, gadaxra 219 aTasi larisodenobiT ar CaiTvleba kompania “ETQ Energy”-is mier aRWurvilobis (КСО-366 tipis karadebi)dagvianebul (fors-maJori) mowodebasTan dakavSirebuli obieqturi mizezebis gamo.21.03.2008 #15558 kontraqtis Tanaxmad, zemoT naxsenebi aRWurviloba mowodebuli iyosaxelSekrulebo vadaSi. aRWurvilobis mimarT arsebul teqnikur SeniSvnebTan dakavSirebiT(ZiriTadad teqnikuri wuni), saeqsperto komisiam miiRo gadawyvetileba ar mieRo warmodgenilikaradebi sawyobSi. gaformda damatebiTi oqmi-SeTanxmeba oTxTvian vadaSi teqnikuri gaumarTaobebisgamosworebis Sesaxeb, imis gaTvaliswinebiT, rom am aRWurvilobis samontaJo samuSaoebigamanawilebel qselSi igegmeboda sameurneo meTodiT saangariSo periodSi. Sedegad kontragentmaSecvala ruseTis warmoebis makompleqtebeli aRWurvilobis momwodebeli. agvistos movlenebisgamo mowodebis vadebi dairRva, ris Sesaxebac kontragentma Seatyobina sazogadoebas (werili #1-05/3073, 28.10.2008). aRWurvilobis mowodeba ganxorcielda 2009 wlis ianvarSi.3. muxliT “kapitaluri xasiaTis sxva samuSaoebi”, 64 aTasi laris odenobis TanxagaTvaliswinebuli iyo m/Z transformatoris kapitaluri remontisTvis q/s-ze “orxevi”, razec27.03.2008 kompania “saqenergoremontTan” gaformda xelSekruleba #15592. am transformatorisgaxsnisas gairkva, rom 4 xvia deformirebulia da dazianebulia transformatoris mTavariizolacia. am dazianebaTa aRmofxvris xarjebma winaswari SefasebiT Seadgina 800 aTasi lari. imgaremoebis gaTvaliswinebiT, rom aseTi didi xarjebis gaReba 1983 wlis gamoSvebistransformatoris remontisTvis ararentabeluria, vinaidan axali transformatoris SesasyidfasTan didi gansxvaveba ar iyo, ss “Telasis” teqnikurma sabWom miiRo gadawyvetileba axalitransformatoris yidvis Sesaxeb (ss “Telasis” teqnikuri sabWos oqmi #46, 29.09.2008),romlis mowodebazec gaformda xelSekruleba #16175, 25.12.2008 kompania “energoservisTan”.7.10. cvlilebebi mmarTvel organoSisaangariSo periodSi cvlilebebi mmarTvel organoSi ar momxdara.56

7.11. sakadro da socialuri politika. socialuri partniorobass `Telasis~ sakadro politika warmoadgens sazogadoebis mmarTvelobiTi saqmianobisa dasawarmoo strategiis nawils.sakadro politikis ZiriTadi principebi:■ personalis marTvis dargSi sazogadoebis mier miRebul gadawyvetilebaTa SesabamisobasaqarTvelos SromiT kanonmdeblobasTan da ss `Telasis~ koleqtiur xelSekrulebasTan;■ mimarTuleba koleqtivis gaaxalgazrdavebisken;■ upiratesobis miniWeba muSakebisTvis, romelTac gaaCniaT Tanamdebobis Sesatyvisi ganaTleba;■ sakadro rezervis Camoyalibeba xelmZRvaneli TanamdebobebisaTvis.sazogadoebis sakadro politikis ZiriTadi miznebi:■ sazogadoebis uzrunvelyofa sawarmos uwyveti muSaobisaTvis saWiro raodenobispersonaliT, romelic ganaTlebis doniTa da momzadebiT Seesatyviseba dakavebul Tanamdebobebs;■ muSakebis kvalifikaciis amaRleba, kadrebis momzadeba da gadamzadeba;■ sakadro rezervis Camoyalibeba;■ sazogadoebis muSakebisgan maqsimaluri ukugebis miRweva personalis perioduliatestaciebis Catarebis gziT.sazogadoebis strategia personalis ganviTarebis dargSi mdgomareobs sazogadoebaSi samuSaodiseTi muSakebis mozidvaSi, romlebic Seesabamebian personalisadmi Tanamedrove moTxovnebs, dasawarmosaTvis yvelaze Rirebuli kadrebis SenarCunebaSi. sazogadoebis strategiis ZiriTadimimarTulebebi personalis ganviTarebis dargSi Semdegia:■ warmoebis dakompleqteba saWiro kvalifikaciis muSakebiT, muSaobis Catareba personalisasakobrivi maCveneblebis Semdgomi gaumjobesemis mizniT;■ personalis swavleba, momzadeba da kvalifikaciis amaRleba, rezervis momzadebaxelmZRvanelTa Casanacvleblad;■ muSakTa Sromis stimulirebis pirobebis uzrunvelyofa, kadrebTan muSaobis socialurimimarTulebis uzrunvelyofa, muSakTa interesebis dacva.sawarmoo personali mTlianad kvalificiuri kadrebiTaa dakompleqtebuli. personalisswavleba mimdinareobs saswavlo centrebSi da sakuTar saswavlo centr-kabinetSi. 2008 wels ss`TelasSi~ atestacia gaiara 157 adamianma. kvalifikaciis amaRlebis kursebi gaiara 16 adamianma.swavleba da gadamzadeba saqarTvelos saswavlo centrebSi da qveynis farglebs gareT gaiara 23adamianma. swavleba, instruqtaJi da kvalifikaciis amaRleba sakuTar saswavlo centrSi gaiara 348adamianma. am miznebisTvis saangariSo periodSi daixarja 23 282 lari.ss `Telasis~ muSakebis raodenoba, 2008 wlis 31 dekembris mdgomareobiT, Seadgens 2145adamians. 2008 wels, 2007 welTan SedarebiT, personalis raodenoba Semcirda 2.84%-iT. 2008wels sazogadoebaSi samuSaodan gaaTavisufles 177 adamiani, xolo samuSaod miiRes 118 adamiani.momuSaveTa raodenoba kategoriebis mixedviTweli xelmZRvanelebi specialistebi mosamsaxureebi muSebi sul2005 weli 26 977 741 381 21252006 weli 219 366 353 1262 22002007 weli 224 417 330 1235 22062008 weli 224 406 313 1202 214557

momuSaveTa raodenoba kategoriebis mixedviT10%56%15%19%xelmZRvanelebispecialistebimosamsaxureebimuSebimuSakTa asakobrivi Semadgenlobass `Telasis~ muSakTa asakobrivi done Seadgens: 30 wlamde – 239 adamiani; 31-dan 40 wlamde –601 adamiani; 41-dan 50 wlamde – 643 adamiani; 51-dan 60 wlamde – 470 adamiani; 61-dan 70 wlamde– 178 adamianii; da 71 wlis zemoT – 14 adamiani.8% 1%11%22%30 wlamde31-dan 40 wlamde41-dan 50 wlamde28%51-dan 60 wlamde61-dan 70 wlamde71 wlis zemoT30%muSakTa xarisxobrivi Semadgenlobass `Telasis~ muSakTa xarisxobrivi Semadgenloba Semdegnairad gamoiyureba: umaRlesi ganaTlebiT –1348 adamiani; saSualo-specialuri ganaTlebiT – 343 adamiani, da saSualo ganaTlebiT – 454adamiani.21%umaRlesi ganaTlebiT16%63%saSualo-specialuriganaTlebiTsaSualo ganaTlebiT58

socialuri politikasocialuri partnioroba damsaqmebelsa da ss `Telasis~ TanamSromlebs Soris xorcieldebakoleqtiuri xelSekrulebis formatiT, sazogadoebis profkavSirul komitetsa da administraciasSoris. xelSekruleba mimarTulia mSromelTa socialuri da ekonomikuri uflebebisa da interesebisdacvisaken, muSakebis cxovrebis sakmarisi donis SenarCunebisa da sazogadoebis efeqturi muSaobisuzrunvelyofisken gansakuTrebuli yuradReba eTmoba muSaobis srulyofas TanamSromelTasicocxlisa da janmrTelobis dasacavad, sawarmoo travmatizmis Tavidan asacileblad. muSakTacalkeuli kategoriebi droulad da ufasod iyvnen uzrunvelyofili spectansacmliT daindividualuri dacvis sxva saSualebebiT, Sromis pirobebisa da moqmedi dargobrivi normebisSesabamisad. sazogadoeba axorcielebs muSakTa samedicino dazRvevas. mTlianad sruldebodakoleqtiuri xelSekruleba, droulad gaicemoda xelfasi.socialuri SeRavaTebi, romlebic gaicema koleqtiuri xelSekrulebis Sesabamisadgadaxdis odenoba (lari)№ SeRavaTis saxeobebi2005 weli 2006 weli 2007 weli№2008 weli1 2 3 4 5 61TanamSromlebis materialuridaxmareba ritualurmomsaxurebaze23,068.0 23,865.0 17,046.025,333.302TanamSromlebisTvissatransporto xarjebisa damomsaxurebis anazRaureba 525,869.0 520,56.0 498,422.0 657,314.553erTdrouli gadaxdebi saiubileoTariRebTan (50, 55 da 60 weli)da sazogadoebaSi muSaobisstaJTan dakavSirebiT48,887.0 165,144.0 207,893.0 220,419.004SeRavaTebi muSakebseleqtroenergiis fasdaklebaze310,590.0 330,320.0 305,860.0 331,191.80sul 908,414.0 1,039,896.0 1,029,221.0 1,234,258.65Tavi VIII. sawarmos sakuTrebaSi arsebuli fasiani qaRaldebis sabazroriskisaangariSo periodSi da gasuli 3 wlis manZilze sazogadoeba ar axorcielebda investirebasfasiani qaRaldebis meSveobiT.Tavi IX. finansuri angariSgebasameurneo wlis finansuri angariSis Catarebuli auditi, `angariSvaldebul sawarmoTa finansuriangariSgebis Sedgenisa da wardgenis wesebis~ Sesabamisad, romelic damtkicebulia saqarTvelosfasiani qaRaldebis erovnuli komisiis 2005 wlis 10 ianvris #54 dadgenilebiT, warmodgeniliawinamdebare wliuri angariSis danarTSi.59

Tavi X. sawarmos mier mowveuli auditoris Secvlasazogadoebis auditoria `praisuoterhauskupers centraluri azia da kavkasia b.v.-s saqarTvelosfiliali~ (Georgian Branch of PricewaterhouseCoopers Central Asia and Caucasus B.V.). auditorulimomsaxureba xorcieldeba auditoruli momsaxurebis gawevis Sesaxeb 2007 wlis 22 noembrisSeTanxmebis Sesabamisad. saangariSoO periodSi auditoris Secvla ar momxdara.60

Tavi XI. mmarTveli organos wevrebi da sxva mniSvnelovani Tanamdebobis pirebi11.1. ss `Telasis~ sameTvalyureo sabWo 2008 wlis 31 dekembrisaTvissazogadoebis sameTvalyureo sabWo arCeulia 2007 wlis 10 agvistos aqcionerTa wliurisaerTo krebis gadawyvetilebis Sesabamisad.rapoporti andreinaTanis ZesameTvalyureo sabWosTavmjdomareWinWarauli Temurgrigolis ZesameTvalyureo sabWosTavmjdomaris moadgilemantrovi mixeilaleqsis ZesameTvalyureo sabWoswevriivanovi sergeinikolozis ZesameTvalyureo sabWoswevritolstoguzovisergei nikolozis ZesameTvalyureo sabWoswevripetriaSvili iraklileris ZesameTvalyureo sabWoswevri61

sameTvalyureo sabWos Tavmjdomareinformacia sameTvalyureo sabWos wevrebis Sesaxebrapoporti andrei naTanis Zedabadebis weli 1963ZiriTadi samuSao adgiliRss `erTiani energetikuli sistemisfederaluri qseluri kompania~ganaTlebaumaRlesi, doneckis saxelmwifo universitetiTanamdebobis dasaxeleba ZiriTadi samuSao adgilis mixedviTGgamgeobis TavmjdomaremoqalaqeobaruseTis federaciasameTvalyureo sabWoSi pirveli arCevis TariRi 04.11.2003wili sazogadoebis sawesdebo kapitalSi, % 0ss `Telasis~ aqciaTa raodenoba sakuTrebaSi, % 0informacia garigebaTa Sesaxeb sameTvalyureo sabWos wevrsada sazogadoebas SorisGgarigebebi ar dadebulainformacia sameTvalyureo sabWos wevris winaaRmdeg sarCelisSetanis SesaxebsarCeli Setanili ar yofilasameTvalyureo sabWos Tavm. moadgileWinWarauli Temur grigolis Zedabadebis weli 1944ZiriTadi samuSao adgilisaqarTvelos teqnikuri universitetiganaTlebaumaRlesi, saqarTvelos politeqnikuriinstituti, TbilisiTanamdebobis dasaxeleba ZiriTadi samuSao adgilis mixedviTsaqarTvelos teqnikuri universitetisprofesorimoqalaqeobasaqarTvelosameTvalyureo sabWoSi pirveli arCevis TariRi 15.12.1998wili sazogadoebis sawesdebo kapitalSi, % 0ss `Telasis~ aqciaTa raodenoba sakuTrebaSi, % 0informacia garigebaTa Sesaxeb sameTvalyureo sabWos wevrsada sazogadoebas Sorisgarigebebi ar dadebulainformacia sameTvalyureo sabWos wevris winaaRmdeg sarCelisSetanis SesaxebsarCeli Setanili ar yofilasameTvalyureo sabWos wevrimantrovi mixeil aleqsis Zedabadebis weli 1965ZiriTadi samuSao adgiliRss `inter rao ees~ganaTlebaumaRlesi, moskovis energetikis institutiTanamdebobis dasaxeleba ZiriTadi samuSao adgilis mixedviT generaluri direqtoris moadgile – Rss `interrao ees~-is korporaciuli centris xelmZRvanelimoqalaqeobaruseTis federaciasameTvalyureo sabWoSi pirveli arCevis TariRi 04.10.2005wili sazogadoebis sawesdebo kapitalSi, % 0ss `Telasis~ aqciaTa raodenoba sakuTrebaSi, % 0informacia garigebaTa Sesaxeb sameTvalyureo sabWos wevrsada sazogadoebas Sorisgarigebebi ar dadebulainformacia sameTvalyureo sabWos wevris winaaRmdeg sarCelisSetanis SesaxebsarCeli Setanili ar yofila62

sameTvalyureo sabWos wevriivanovi sergei nikolozis Zedabadebis weli 1961ZiriTadi samuSao adgiliRss `inter rao ees~ganaTlebaumaRlesi, moskovis sainJinro-fizikuri instituti(msfi)Tanamdebobis dasaxeleba ZiriTadi samuSao adgilis mixedviT generaluri direqtoris moadgile Rss `inter raoees~-is strategiisa da investiciebis dargSimoqalaqeobaruseTis federaciasameTvalyureo sabWoSi pirveli arCevis TariRi 10.08.2007wili sazogadoebis sawesdebo kapitalSi, % 0ss `Telasis~ aqciaTa raodenoba sakuTrebaSi, % 0informacia garigebaTa Sesaxeb sameTvalyureo sabWos wevrsada sazogadoebas Sorisgarigebebi ar dadebulainformacia sameTvalyureo sabWos wevris winaaRmdegsarCelis Setanis SesaxebsarCelebi Setanili ar yofilasameTvalyureo sabWos wevritolstoguzovi sergei nikolozis Zedabadebis weli 1964ZiriTadi samuSao adgiliRss `inter rao ees~ganaTlebaTanamdebobis dasaxeleba ZiriTadi samuSao adgilis mixedviTumaRlesi, magnitogorskis g.i. nosovis sax. samTometalurgiuliinstitutigeneraluri direqtoris moadgile Rss `inter raoees~-is aqtivebis marTvis dargSimoqalaqeobaruseTis federaciasameTvalyureo sabWoSi pirveli arCevis TariRi 10.08.2007wili sazogadoebis sawesdebo kapitalSi, % 0ss `Telasis~ aqciaTa raodenoba sakuTrebaSi, % 0informacia garigebaTa Sesaxeb sameTvalyureo sabWos wevrsada sazogadoebas Sorisgarigebebi ar dadebulainformacia sameTvalyureo sabWos wevris winaaRmdegsarCelis Setanis SesaxebsarCeli Setanili ar yofilasameTvalyureo sabWos wevripetriaSvili irakli leris Zedabadebis weli 1969ZiriTadi samuSao adgilisaqarTvelos damoukidebeli profkavSirebiganaTlebaTanamdebobis dasaxeleba ZiriTadi samuSao adgilis mixedviTumaRlesi, saqarTvelos politeqnikuri instituti,TbilisiTavmjdomaremoqalaqeobasaqarTvelosameTvalyureo sabWoSi pirveli arCevis TariRi 22.11.2002wili sazogadoebis sawesdebo kapitalSi, % 0ss `Telasis~ aqciaTa raodenoba sakuTrebaSi, % 0informacia garigebaTa Sesaxeb sameTvalyureo sabWos wevrsada sazogadoebas Sorisgarigebebi ar dadebulainformacia sameTvalyureo sabWos wevris winaaRmdegsarCelis Setanis SesaxebsarCeli Setanili ar yofila63

11.2.sazogadoebis aRmasrulebeli organosazogadoebis wesdebis Sesabamisad, erTpirovnuli aRmasrulebeli organos uflebamosilebebsaxorcielebs generaluri direqtori. kolegialuri aRmasrulebeli organo gaTvaliswinebuli araris.generaluri direqtori axorcielebs sazogadoebis mimdinare saqmianobis xelmZRvanelobas,sazogadoebis yoveldRiur marTvas da sazogadoebis warmomadgenlobiT uflebamosilebebs.sameTvalyureo sabWo generalur direqtorTan aformebs SromiT xelSekrulebas, sadacindividualurad ganisazRvreba generaluri direqtoris uflebamosilebaTa farglebi, uflebebi damovaleobebi. generaluri direqtoris funqciebi ar SeiZleba gadaeces sameTvalyureo sabWos.sameTvalyureo sabWos gadawyvetilebiT, 2005 wlis 27 oqtombris oqmi #10, sazogadoebisgeneralur direqtorad daniSnulia pimonovi iuri pavles Ze.ss `Telasis~ aRmasrulebeli direqcia 31.12.2008 w. mdgomareobiTpimonovi iuripavles Zegeneraluri direqtorioganesiani eduardsergeis Zeekonomikisa dafinansebisdireqtoriqobalia mamukaigoris Zeteqnikuri direqtoriqarTveliSvilidaviT iuris ZeenergogasaRebisdireqtoriZnelaZe vladimerSoTas ZelogistikisaA dasameurneo uzrunvelyofisdireqtoriSatirovi vladimirleonidis ZeuSiSroebisdireqtori64

11.2.1. informacia generaluri direqtorisa da aRmasrulebelidireqciis wevrebis Sesaxebgeneraluri direqtoripimonovi iuri pavles Zedabadebis weli 1955samuSao adgilisaaqcio sazogadoeba `Telasi~ganaTlebaumaRlesi, novoCerkaskis politeqnikuriinstituti, novoCerkaskiTanamdebobis dasaxeleba ZiriTadi samuSao adgilisgeneraluri direqtorimixedviTpirvelad damtkicda erTpirovnuli aRmasrulebeli27.10.2005 г.organos TanamdebobazemoqalaqeobaruseTis federaciawili sazogadoebis sawesdebo kapitalSi, % 0ss `Telasis~ aqciaTa raodenoba sakuTrebaSi, % 0finansuri direqtorioganesiani eduard sergis Zedabadebis weli 1974samuSao adgilisaaqcio sazogadoeba `Telasi~ganaTlebaumaRlesi, saqarTvelos politeqnikuriinstituti, TbilisiTanamdebobis dasaxeleba ZiriTadi samuSao adgilismixedviTss `Telasis~ekonomikisa da finansebisdireqtoripirvelad damtkicda aRmasrulebeli organos10.09.2007 г.TanamdebobazemoqalaqeobasaqarTvelowili sazogadoebis sawesdebo kapitalSi, % 0ss `Telasis~ aqciaTa raodenoba sakuTrebaSi, cal. 0teqnikuri direqtoriqobalia mamuka igoris Zedabadebis weli 1963samuSao adgilisaaqcio sazogadoeba `Telasi~ganaTlebaumaRlesi, saqarTvelos politeqnikuriinstituti, TbilisiTanamdebobis dasaxeleba ZiriTadi samuSao adgilisss `Telasis~ teqnikuri direqtorimixedviTpirvelad damtkicda aRmasrulebeli organos17.11.2006 г.TanamdebobazemoqalaqeobasaqarTvelowili sazogadoebis sawesdebo kapitalSi, % 0ss `Telasis~ aqciaTa raodenoba sakuTrebaSi, cal. 065

energogasaRebis direqtoriqarTveliSvili daviT iuris Zedabadebis weli 1973samuSao adgilisaaqcio sazogadoeba `Telasi~ganaTlebaumaRlesi, Tbilisis saxelmwifouniversiteti, TbilisiTanamdebobis dasaxeleba ZiriTadi samuSao adgilisss `Telasis~ energogasaRebis direqtorimixedviTpirvelad damtkicda aRmasrulebeli organosTanamdebobaze01.11.2006 гmoqalaqeobasaqarTvelowili sazogadoebis sawesdebo kapitalSi, % 0ss `Telasis~ aqciaTa raodenoba sakuTrebaSi, cali 0logistikisa da sameurneo uzrunvelyofisZnelaZe vladimer SoTas Zedireqtoridabadebis weli 1970samuSao adgilisaaqcio sazogadoeba `Telasi~ganaTlebaumaRlesi, damoukidebeli instituti`egrisi~, TbilisiTanamdebobis dasaxeleba ZiriTadi samuSao adgilismixedviTss `Telasis~ logistikisa dasameurneo uzrunvelyofis direqtoripirvelad damtkicda aRmasrulebeli organosTanamdebobaze03.01.2007 .гmoqalaqeobasaqarTvelowili sazogadoebis sawesdebo kapitalSi, % 0ss `Telasis~ aqciaTa raodenoba sakuTrebaSi, cal. 0uSiSroebis direqtoriSatirovi vladimir leonidis Zedabadebis weli 1953samuSao adgilisaaqcio sazogadoeba `Telasi~ganaTlebaumaRlesi, kaspiiskis s.m. kirovis sax.sazRvao saswavlebeliTanamdebobis dasaxeleba ZiriTadi samuSao adgilis ss `Telasis~ uSiSroebis direqtorimixedviTpirvelad damtkicda aRmasrulebeli organosTanamdebobaze17.05.2007 гmoqalaqeobaruseTis federaciawili sazogadoebis sawesdebo kapitalSi, % 0ss `Telasis~ aqciaTa raodenoba sakuTrebaSi, cal. 02008 wlis ganmavlobaSi sazogadoebis aRmasrulebeli organoebis wevrebs sazogadoebisaqciebTan dakavSirebiT ar ganuxorcielebiaT garigebebi.66

Tavi XII. sazogadoebis xelmZRvanelTa Sromis anazRaurebasazogadoebis aRmasrulebeli direqciis wevrebisTvis 2008 wels gadaxdili anazRaurebisodenoba(lari)№№ s.g.m. da Tanamdeboba xelfasi wliuripremiagadadebulikompensaciasulanazRaureba1 2 3 4 6 81 pimonovi iuri pavles Ze,generaluri direqtori119,191.48 110,879.96 24,645.00 254,716.44oganesiani eduard sergeis Ze,2 ekonomikis da finansebis188,306.39 87,706.64 7,040.00 283,053.03direqtori3 qobalia mamuka igoris Ze,teqnikuri direqtori192,920.00 102,959.97 4,000.00 299,879.974 qarTveliSvili daviT iuris Ze,energogasaRebis direqtori190,553.02 102,959.97 4,000.00 297,512.99ZnelaZe vladimer SoTas Ze,5 logistikisa da sameurneo192,909.07 102,959.97 1,333.33 297,202.37uzrunvelyofis direqtori6Satirovi vladimir leonidis Ze,uSiSroebis direqtori93,000.00 59,839.98 - 152,839.98sul 976,879.96 567,306.49 41,018.33 1,585,204.78Tavi XIII. pirebi, romlebic floben an akontroleben saerTo krebisxmaTa 5 an met procentssaaqcio kapitaliss `Telasis~ sawesdebo kapitali Sedgeba 81 147 886 cali Cveulebrivi aqciisgan. 1 aqciisnominaluri Rirebulebaa 1 lari.saaqcio kapitalis saerTo struqtura 2008 wlis 31 dekembrisaTvis Semdegnairad gamoiyureba::67

fasianiqaRaldebisklasibeneficiar-mesakuTris saxeli, gvarida misamarTisakuTrebaSi arsebuliTanxa da sakuTrebisflobis saxeobasakuTrebaSiarsebuli fasianiqaRaldebis klasTaprocentuliSemadgenloba1 2 3 4CveulebriviaqciaCveulebriviaqciaCveulebriviaqcia60 861 452.00 lari“Silk Road Holdings B.V.” –flobis saxeoba - aqciebiniderlandi75,0saxelmwifo (saqarTvelo) – saqarTvelosekonomikuri ganviTarebis saministros 19 904 783.00 lari,sawarmoTa marTvis saagento, q. Tbilisi flobis saxeoba - aqciebi24,53381 651.00 lari, flobisfizikuri pirebisaxeoba – aqciebi 0,47sul 81 147 886 aqcia 100ss “Telasis” saaqcio kapitalis struqtura0,47%24,53% "Silk Road Holdings B.V."saqarTvelos saxelmwifo75%fizikuri pirebisameTvalyureo sabWos wevrebi da direqtorebi fasian qaRaldebs ar floben.informacia sazogadoebis reestris mwarmoeblis Sesaxebsazogadoebis fasiani qaRaldebis mflobelTa reestris mwarmoebelia Sps `saqarTvelosfasiani qaRaldebis gaerTianebuli registratori~ - fasiani qaRaldebis damoukidebeliregistratori, licenzia #70006, gacemulia fasiani qaRaldebis erovnuli komisiis mier. fasianiqaRaldebis reestris warmoeba xorcieldeba 2000 wlis 18 Tebervlis #192 xelSekrulebisTanaxmad.misamarTi: saqarTvelo, 0162 q.Tbilisi, WavWavaZis gamziri #74atel: (99532)22-53-51, 91-31-42faqsi: (8832) 25-19-6068

Tavi XIV. dakavSirebuli mxareebi da urTierTobebi(informaciis gaxsna dakavSirebuli mxareebis Sesaxeb)urTierTobebi kontrolis sferoSi. sazogadoebis saTao kompaniaa Silk Road Holdings B.V., romelsacakontrolebs kompania rao ees (`mTavari saTao kompania~). sazogadoebaze saboloo kontrolisuflebis mqone mxarea ruseTis federaciis mTavroba.xelmZRvaneloba miiCnevs, rom operaciebi mTavar saTao da masTan dakavSirebul sxvakompaniebTan im jgufis meSveobiT, romelsac akontrolebs ZiriTadi Svilobili kompania,xorcieldeba sabazro ganakveTebiT, romlebic ar aris ufro metad xelsayreli, vidrearadakavSirebul mxareebTan warmoebuli operaciebi. yvelaze mniSvnelovani operaciebidakavSirebulia Cveulebriv operaciebTan sazogadoebis saqmianobis farglebSi – eleqtroenergiiTmomaragebasTan misi Semdgomi ganawilebis mizniT, da es operaciebi xorcieldeba saqarTvelosmTavrobis mier dadgenili satarifo ganakveTebiT.operaciebi sxva dakavSirebul mxareebTan. saqarTvelos mTavroba warmoadgens sazogadoebis aqciaTa24.53% mflobels saxelmwifo qonebis marTvis saagentos saSualebiT; amrigad, saqarTvelosmTavrobis mier kontrolirebadi iuridiuli pirebi aseve warmoadgenen sazogadoebasTan afilirebul(dakavSirebul) mxareebs. ar arsebobs specialuri debulebebi aseTi organizaciebisaTvis daxelmZRvaneloba miiCnevs, rom yvela operacia xorcieldeba sazogadoebis Cveulebrivi saqmianobisnawilis saxiT da warmoebs sabazro ganakveTebiT, romlebic ar aris ufro xelsayreli, vidrearadakavSirebul mxareebTan warmoebuli operaciebi. Aar xorcieldeba saxelmwifo sawarmoebTanganxorcielebuli operaciebis gaxsna, rodesac isini xorcieldeba normaluri saqmiswarmoebisaspirobebiT, romlebic Sesabamisad gamoiyeneba yvela sazogadoebrivi da kerZo sawarmosaTvis darodesac ar arsebobs mimwodeblis arCevis SesaZlebloba, romelic uzrunvelyofs eleqtroenergiisgadacemas, telekomunikaciebTan dakavSirebul momsaxurebas da a.S.69

Tavi XV. mdgomareobis damadasturebuli da mimdinare angariSebi15.1. angariSi mogebisa da zaralis Sesaxeb(aTasi lari)2008 weli№maCveneblis dasaxeleba 2007 weli№gadaxragegmiur faqtobr(+/-) %1 2 3 4 5 6 71amonagebi (neto) produqciis,saqonlis, samuSaos, momsaxurebis 199,366.0 222,076.57 216,445.38 -5,631.19 -2.5realizaciidan2 pirobiTi-cvladi xarjebi - 121,599.01 98,664.05 -22,934.97 -18.93 samarJo mogeba - 100,477.56 117,781.33 17,303.78 17.24pirobiTi-mudmivi xarjebi,amortizaciis gaTvaliswinebis- 52,830.77 52,461.88 -368.89 -0.7gareSe5mogeba gayidvebidan, amortizaciisgaTvaliswinebis gareSe- 47,646.79 65,319.45 17,672.66 37.16 amortizacia - 8,102.38 4,904.99 -3,197.39 -39.57 mogeba (zarali) gayidvebidan 44,586,4 39,544.41 60,414.46 20,870.05 52.88saoperacio da arasarealizacioSemosavlebisa da xarjebis saldo-32,971.50 -26,486.85 45,455.06 71,941.90 -271.69mogeba (zarali) gadasaxadiTdabegvramde-18,487.03 13,057.56 105,869.52 92,811.95 710.810 mogebis gadasaxadi -17,151.93 0.00 -22,239.37 -22,239.37cnobisaTvis: mogebis gadasaxadisganakveTi,%20% 15.00 - - -11 wminda mogeba (zarali) -35,638.96 13,057.56 83,630.15 70,572.59 540.570

15.2. buRaltruli balansi2008 weli№maCveneblis dasaxeleba№gadaxragegm. faqtobr(+/-) %1 2 3 4 5 6aqtiviIarasabrunavi aqtivebi1 aramaterialuri aqtivebi 631.03 249.87 -381.17 -60.42 ZiriTadi saSualebebi 116,134.02 116,205.29 71.27 0.13 dausrulebeli mSenebloba 13,965.50 14,893.45 927.96 6.64momgebiani dabandebebi materialurfaseulobebSi- - - -5 grZelvadiani finansuri dabandebebi - - - -6 gadadebuli sagadasaxado aqtivebi 24,867.00 9,782.25 -15,084.75 -60.77 sxva arasabrunavi aqtivebi - - - -8 sul I Tavis mixedviT 155,597.55 141,130.86 -14,466.69 -9.3IIsabrunavi aqtivebi9 maragi, maT Soris: 7,403.41 8,883.88 1,480.48 20.010 gadasaxadi damatebiT Rirebulebaze 9.74 9.7411debitoruli davalianeba (12 TviszeviT)8,439.89 3,007.14 -5,432.75 -64.412 debitoruli davalianeba (12 Tvemde) 37,460.40 46,279.37 8,818.97 23.513 moklevadiani finansuri dabandebebi - - - -14 fuladi saxsrebi 266.69 3,008.09 2,741.40 1027.915 sxva sabrunavi aqtivebi - - - -16 sul II Tavis mixedviT 53,570.38 61,188.22 7,617.84 14.217 balansi ( 8+16 striqonebis jami) 209,167.93 202,319.08 -6,848.85 -3.3pasiviIIIkapitali da rezervebi18 sawesdebo kapitali 81,148.00 81,147.89 -0.11 0.019 damatebuli kapitali - - - -20 sarezervokapitali - 32,389.03 32,389.03 -21 miznobrivi dafinanseba da Semosavlebi - - - -22gasuli wlebis gaunawilebelimogeba/zarali-821,944.78 -270,647.78 551,297.01 -67.123saangariSo wlis gaunawilebelimogeba/zarali13,057.56 83,630.15 70,572.59 540.524 sul III Tavis mixedviT -727,739.22 -73,480.71 654,258.51 -89.9IVgrZelvadiani valdebulebebi25 sesxebi da kreditebi, maT Soris: 75,845.00 66,952.36 -8,892.64 -11.726 gadadebuli sagadasaxado valdebulebebi - - - -27 sxva grZelvadiani valdebulebebi 1,060.13 619.77 -440.36 -41.528 sul IV Tavis mixedviT 76,905.13 67,572.14 -9,333.00 -12.1Vmoklevadiani valdebulebebi29 sesxebi da kreditebi, sul 646,469.12 19,573.20 -626,895.92 -97.030 kreditoruli davalianeba 175,760.27 171,442.47 -4,317.81 -2.531 monawileebis(damfuZneblebis) winaSe - - - -71

davalianeba SemosavlebTan dakavSirebiT32 momavali periodebis Semosavlebi 12,722.48 4,879.56 -7,842.92 -61.633 momavali xarjebis rezervi 9,492.25 9,335.33 -156.92 -1.734 sxva moklevadiani valdebulebebi 15,557.90 2,997.09 -12,560.81 -80.735 sul V Tavis mixedviT 860,002.02 208,227.65 -651,774.37 -75.836 balansi (24+28+35 striqonebis jami) 209,167.93 202,319.08 -6,848.86 -3.372

15.3. amonaweri reestridan73

15.4. auditoris daskvna ss “Telasis” 2008 wlis buRaltruli (finasuri)angariSgebis SesaxebPricewaterhouseCoopersCentral Asia and Caucasus B.V.filiali saqarTveloSisaqarTvelo, Tbilisibambis rigis q. 7biznes-centri “manTaSevi”0105 Tbilisi, saqarTvelotelefoni (995) 32 50 80 50faqsi (995) 32 50 80 60 www.pwc.comdamoukidebeli auditoris daskvnass “Telasis” aqcionerebsa da xelmZRvanelobasCven ganvaxorcieleT ss “Telasis” (Semdgom “kompania”) TandarTuli finansuri angariSgebis auditi,romelic Seicavs sabalanso angariSs, 2008 wlis 31 dekembris mdgomareobiT, angariSs mogebisa dazaralis Sesaxeb, angariSs sakuTar kapitalSi cvlilebebis Sesaxeb da angariSs wlis ganmavlobaSifuladi saxsrebis moZraobis Sesaxeb, agreTve ZiriTadi saaRricxvo politikis mokle mimoxilvasda sxva ganmartebiT SeniSnvebs.xelmZRvanelobis pasuxismgebloba finansur angariSgebazexelmZRvaneloba pasuxismgebelia winamdebare finansuri angariSgebis momzadebasa da keTilsindisierwardgenaze, finansuri angariSgebis saerTaSoriso standartebis Sesabamisad. aRniSnulipasuxismgebloba moicavs: im Sida kontrolis SemuSavebas, danergvasa da dacvas, romelicdakavSirebulia finansuri angariSebis momzadebasa da keTilsindisier wardgenasTan arsebiTidamaxinjebebis gareSe, romelic ganpirobebulia TaRliTobiT an SecdomiT; Sesabamisi saaRricxvopolitikis arCevasa da gatarebas; saangariSo Sefasebebis gamoyenebas, romlebic mocemulgaremoebebSi yvelaze dasabuTebulia.auditoris pasuxismgeblobaCveni pasuxismgebloba mdgomareobs imaSi, rom, Cvens mier Catarebuli auditis safuZvelze,gamovxatoT Cveni azri winamdebare finansur angariSgebasTan dakavSirebiT. saauditoro Semowmebaganxorcielda auditis saerTaSoriso standartebis Sesabamisad. aRniSnuli standartebisSesabamisad, auditi unda daigegmos da ganxorcieldes iseTnairad, rom gvqondes gonivruli rwmenaimisa, rom finansuri angariSgeba ar Seicavs mniSvnelovan damaxinjebebs.auditi moicavs procedurebis ganxorcielebas finansur angariSgebaSi mocemuli ricxobrivimonacemebisa da ganmartebebis misaRebad. procedurebis SerCeva damokidebulia auditorebismosazrebaze, finansur angariSgebaSi mniSvnelovani damaxinjebebis arsebobis riskis SefasebisCaTvliT, romelic SeiZleba gamowveuli iyos TaRliTobis an Secdomis Sedegad. am riskebisSefasebisas auditori ganixilavs, organizaciis mier finansuri angariSgebis momzadebasa da utyuarwardgenasTan dakavSirebul Sida kontrols imisaTvis, rom SeimuSaos mocemuli garemoebebisSesabamisi auditis procedurebi. amasTan, organizaciis Sida kontrolTan dakavSirebiT,Sexedulebis gamoxatva ar warmoadgens TviTmizans. auditoruli Semowmeba, agreTve moicavs74

uRaltruli aRricxvis gamoyenebuli principebisa da xelmZRvanelobis mier ganxorcielebulimniSvnelovani saaRricxvo Sefasebebis, aseve finansuri angariSgebis wardgenis saerTo Sefasebas.migvaCnia, rom Catarebuli auditoruli Semowmeba sakmaris safuZvels gvaZlevs Cveni azrisgamosaTqmelad.azriCveni azriT, TandarTuli finansuri angariSgeba, yvela materialuri aspeqtis Sesabamisad, utyuaradasaxavs kompaniis finansur mdgomareobas, 2008 wlis 31 dekembris mdgomareobiT, mis finansurSedegebsa da fuladi saxsrebis moZraobas wlis ganmavlobaSi, finansuri angariSgebis saerTaSorisostandartebis Tanaxmad.ganmartebiTi nawili• Cveni azris kvalificirebis gareSe, gvsurs Tqveni yuradReba mivapyroT TandarTulifinansuri angariSgebis me-4(f) SeniSvnas, sadac ganmartebulia, rom 2008 wlis 31dekembris mdgomareobiT, kompaniis moklevadianma valdebulebebma gadaaWarba mis mimdinareaqtivebs 150,045 aTasi lariT da kompanias hqonda uaryofiTi sakuTari kapitali 73,480aTasi lari. es pirobebi miuTiTebs seriozuli gaurkvevlobis arsebobaze, romelmacSeiZleba gamoiwvios eWvi kompaniis unarTan dakavSirebiT – gaagrZelos uwyveti saqmianoba.2008 wlis 4 ivnisiTbilisi, saqarTvelo75