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IDGC of the North-West

April 29, 2015

Net profit of IDGC of the North-West in Q1 2015 having exceeded 499 mln RUB

In Q1 2015, proceeds of IDGC of the North-West, JSC made 11,044 mln RUB including 9,842 mln RUB (89%) of proceeds from electric energy transmission and 946 mln RUB (9%) of proceeds from resale of electric energy and power.

In Q1 2015, proceeds from technological connection grew by 38 mln RUB (60%) as compared to the same period of the previous year. The prime cost of the services referred to, as compared to data as of 31.03.2014, grew by only 5%, proceeds growth rate outstripping it by 55%.

The overall drop of proceeds by 1,431 mln RUB (11%) as compared to the same period of the previous year resulted from discontinuation of electric energy marketing activities in the Murmansk Region within the boundaries of Kolenergosbyt, JSC activity zone. By virtue of an order passed by the Ministry of Energy, since 01.02.2015 the functions of the guaranteeing supplier in the Murmansk Region with regard to Kolenergosbyt, JSC activity zone have been transferred to AtomEnergoSbyt, JSC. As of 31.03.2015, 68% of the Company’s assets structure are non-current assets, 96% of them being fixed assets.

In the long-term liabilities structure, the most significant part falls to the share of loans and credits (82%), their amount as of the end of the reporting period making 14,913 mln RUB. The short-term liabilities structure is distributed as follows: payables – 73%, credits – 22%, estimated liabilities – 5%. The short-term credit portfolio increased by 12 mln RUB. The Company’s short-term payables to suppliers and contractors decreased by 11% (804 mln RUB).
The Company’s financial results following the outcome of the reporting period is profit in an amount of 499 mln RUB. EBITDA (Earnings before Interest, Taxes, Depreciation and Amortisation) equal to 2,043 mln RUB.

 

 

 

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