print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases  RusHydro REGISTER LOG IN

Press Releases > RusHydro  all about the company

company search
all press releases
all RusHydro press releases

RusHydro

October 2, 2020

Results of the Board of Directors meeting on September 30, 2020

October 2, Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in aon September 30, 2020.
The Board of Directors approved the preliminary results of execution of RusHydro Group’s business plan for 2020 including the actual results of the first half of the year, including execution of consolidated investment program and Comprehensive rehabilitation and modernization program for the first half of 2020.
***

PJSC RusHydro’s electricity production in the first half of the year came in at 51.4 GWh or 117.2% from the planned amount on the back of increased water inflows to the main reservoirs of the hydropower plants on the Volga-Kama cascade, Siberia and the Far East. PJSC RusHydro’s RAS net profit for the first half of the year increased by 41% as compared to the corresponding period last year and reached RUB 29.9 bn. EBITDA in the same period increased by 26% to RUB 49.5 bn.

PJSC RusHydro spent RUB 11.7 bn on its investment program including RUB 7.7 bn on comprehensive modernization program. The investment program of Company’s subsidiaries — customers of construction projects amounted to RUB 6.6 bn. In the first six months of the year, the Company has added 10 MW of electric capacity due to rerating of equipment in the result of the complex modernization program and an additional 10MW following launch of Verkhnebalkarskaya small HPP.
***

The Board of Directors took note on the comprehensive management report on the Company’s corporate governance. The Board reviewed evaluation results of the Company’s corporate governance practices by both, internal audit and external independent organization as well as members of the Board of Directors self-evaluation and key areas of improvement of the Company’s corporate governance and Board of Directors’ work.

In March 2020, the Central Bank of the Russian Federation highly praised the Company’s work on implementation of principles and recommendations of the corporate governance code. Following review of PJSC RusHydro’s annual report the Bank acknowledged that adherence to the corporate governance code’s principles improved significantly as compared to last year’s report.

In September 2020, Russian Institute of Directors has confirmed the Company’s rank in Leading practices in corporate governance. RusHydro, together with Sberbank, Alrosa and AFK Sistema. Is considered one of the national leaders in corporate governance quality.
***

The Board of Directors took into consideration the execution status of priority projects in the Far East.

In September, RusHydro has commissioned CHPP in the city of Sovetskaya Gavan’, the last of the four projects under Presidential decree from 22.11.2012. The Company has already commissioned the second phase of Blagoveshenskaya CHPP, the first phase of Yakutskaya GRES-2 and Sakhalinskaya GRES-2.

RusHydro has finished design works and technical pricing audit of the first phase of two single-circuit 110 kV Pevek-Bilibino overhead lines. The project documentation has been sent via sea vessels to Pevek where construction will begin in the current year.




Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer