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ROSSETI Center and Volga Region

July 24, 2018

For 6 months of 2018, IDGC of Center and Volga Region, PJSC got the net profit - RUR 6.9 bln

IDGC of Center and Volga Region, PJSC has prepared and published the accounting reporting based on the results of the 1st half year 2018 according to the Russian Accounting Standards (RAS).

According to the reporting the revenue of IDGC of Center and Volga Region has amounted to RUR 47.7 bln, including the revenue from electricity transmission — RUR 43.7 bln, from technological connection — RUR 416 mln, from re-sale of electric power and capacity - RUR 3.3 bln. Profit before payment of interests, taxes and depreciation (EBITDA) has increased by 9.1% and achieved RUR 13,264 mln. The net profit has increased by 17.2% as compared to the 1st half year of the past year and amounted to RUR 6.9 bln. The actual prime cost of the rendered services has amounted to RUR 38,4 bln.

The main indicators of IDGC of Center and Volga Region, PJSC based on the results of the 1st half year of 2018 as compared to the similar period of 2017 (in mln Russian rubles, unless otherwise specified):

Indicator name

1st half year of 2018

1st half of year 2017

Change, %

Revenue totally, including:

47,708.1

42,328.4

12.7

Revenue from electric power transmission

43,728.8

41,928.8

4.3

Revenue from technological connection

416.0

258.9

60.7

Revenue from re-sale of electric power and capacity

3,316.6

-

-

Other revenue

246.7

140.7

75.3

Prime cost, including:

38,392.2

34,452.4

11.4

Prime cost of electric power transmission

34,983.4

34,013.8

2.9

Prime cost of technological connection

376.9

349.8

7.7

Prime cost of re-sale of electric power and capacity

2,902.8

-

-

Other prime cost

129.1

88.8

45.4

Gross profit

9,315.8

7,876.0

18.3

Profitability, %

19.5

18.6

0.9 percentage points

Commercial expenses

146.1

-

-

Managerial expenses

390.3

520.4

-25.0

EBITDA

13,264.9

12,155.1

9.1

Profitability, %

27.8

28.7

-0.9 percentage points

Net profit

6,867.5

5,861.9

17.2

Profitability, %

14.4

13.8

0.5 percentage points

Productive supply, mln kW/h

25,200.0

25,862.9

-2.6

Losses, mln kW/h

2,088.2

2,229.7

-6.3

Losses, %

7.65

7.94

-0.3 percentage points

The positive dynamics of the financial result within a specified period are related with the tariff revenue growth, business processes optimization and sub-controlling expenses of a grid company.

The aggregate assets of the company as at 30 June 2018, as compared to the first half year of 2017, have increased by 4.1% and amounted to RUR 100,044.1 mln., including the cost of the non-current assets – RUR 77,290.8 mln. (the increase by 2,6 %), the current assets – RUR 22,753.2 mln (the increase by 9.6 %).

As at 30.06.2018 the net assets amounted to RUR 64,480.7.

The productive supply of electric power amounted to 25,200 mln kW/h. The Company is implementing successfully the arrangements according to the losses reduction Program. The level of the electric power losses for the period under consideration has reduced by 0.3 percentage points

One can get familiar in more details with the accounting reporting of IDGC of Center and Volga Region, PJSC for the 1st half year of 2018 on the Company website on net Internet at address: https://www.mrsk-cp.ru/stockholder_investor/disclosure_reporting_info/finansovaya-informatsiya-i-otchetnost/bukhgalterskaya-otchetnost-oao-mrsk-tsentra-i-privolzhya/.

 

 

 

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