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Russian Grids

August 29, 2018

Rosseti demonstrates a stable growth of profit

Based on the results of the first half of the year, the Rosseti group of companies improved all key financial indicators under IFRS in comparison with the same period of 2017.

Net profit increased by more than 5% - from 54 to almost 57 billion rubles, revenue increased by 11.3%. EBITDA indicator for 6 months amounted to 145.8 billion rubles (in 2017 - 140.8 billion).

In 2017, the Group continues to display positive dynamics of the main indicators of profitability and financial stability, taking into account the unconditional power supply reliability, quality and availability to consumers.

"Activities for improving efficiency and reducing operating costs bring their results. Management will make every effort to maintain positive dynamics in the subsequent reporting periods. I am sure that the positive financial trend demonstrating by us will have a positive impact on the sentiments of investors and shareholders," noted Pavel Livinsky, CEO of Rosseti, commenting the results of the reporting.

For more information on the consolidated financial accounts for the period ending June 30, 2018, see National Storage Mechanism on the website: http://www.morningstar.co.uk/uk/NSMor on the company's website http://www.rosseti.ru/.

Rossetiis one of the largest electric grid holdings in the world that operates 2.34 million km of power transmission lines and 502 thousand substations with transformer capacity of more than 781 GVA. Useful supply of electricity to consumers amounted to 748.2 billion kWh In 2017. Number of employees of the Rosseti group of companies is 228 thousand people. Property complex of PJSC Rosseti includes 37 subsidiaries and affiliated companies, including 15 interregional companies and regional distribution grid company. Controlling shareholder is the state represented by the Federal Agency for state property management of the Russian Federation, which owns 88.04% of the share capital.

 

 

 

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