Based on the results of the publication of the unaudited consolidated interim condensed financial statements for 1H 2018 under IFRS, IDGC of Centre’s management held a conference call with representatives of the investment community to webcast a presentation dedicated to the performance results of IDGC of Centre and IDGC of Centre and Volga Region for 6 months of 2018. IDGC of Centre at the event was represented by Alexander Inozemtsev, Deputy General Director for Economy and Finance, Sergey Sharapov, Deputy General Director for Corporate Governance, and Sergey Ternikov, Head of IR Division. The main topics for discussion were financial and operational results for 6 months of 2018, consolidated financial statements for 1H 2018 under IFRS for the two companies were presented, the main factors affecting the activities of the companies were commented on, as well as answers were given to participants’ questions of the audio webcast.
During the meeting, Alexander Inozemtsev noted that the companies continue to work actively to improve operational efficiency and strengthen the reliability of the power grid complex. It was especially noted that with the continued growth of production assets of IDGC of Centre, a reduction in the number of technological violations and the specific failure rate was achieved. In the reporting period, IDGC of Centre demonstrated good financial results, largely due to increase in the tariff for electricity transmission and growth in the volume of rendered services for electricity transmission in comparable conditions. For 6 months of 2018, IDGC of Centre met the target level for the main performance indicators. The profitability of performance of IDGC of Centre and Volga Region, in its turn, turned out to be at the high level relative to other companies of the sector following the results of the reporting period, which allowed the company to maintain a stable financial position despite negative effect of growth of uncontrolled expenses. IDGC of Centre and Volga Region also managed to increase the volume of value-added services, reduce electricity losses in grids and carry out work to reduce specific operating costs under control.
To view the full version of the conference call and webcast (only in Russian), as well as the question-and-answer session, please, click on the link.
The presentation of IDGC of Centre (only in Russian) is available on the link.
The presentation of IDGC of Centre and Volga Region (only in Russian) is available on the link.