August 25, 2016 Moscow

RELEASE Mosenergo 1H 2016 IFRS Profit Grew by 21.8%

Mosenergo releases unaudited interim consolidated financial statements (prepared in accordance with IFRS) for the 6 months ended June 30, 2016.

Consolidated Statement of Comprehensive Income Key Figures, (mn RUR)

6M 2015

6M 2016

Revenue

88,326

95,796

Variable Costs

(58,603)

(64,802)

Fixed Costs (1)

(12,359)

(13,260)

EBITDA (2)

17,577

18,193

Depreciation of Property, Plant and Equipment

(9,251)

(7,413)

Operating Profit /(Loss)

8,326

10,780

Profit for the period

8,227

10,021

(1) Excluding Depreciation of PP&E

(2) EBITDA = Operating Profit + Depreciation of PP&E

In 1H 2016 Company revenue grew by 8.5% year-on-year up to RUR 95,796 mn. The bulk of the total revenue (54%) was contributed by the revenue from electricity and capacity sales, which increased by 10% up to RUR 51,727 mn, on the

back of new CCGT-units commissioning at CHP-12 and CHP-20.

Revenue from heat sales (44.7% of the total revenue) increased by 13.8% year- on-year, totaling RUR 42,831 mn, mainly on the back of higher heat output (+12.5% in the reporting period). Other revenue totaled RUR 1,238 mn.

Variable costs in 1H 2016 grew by 10.6 year-on-year, totaling RUR 64,802 mn.

Fixed costs (excluding Depreciation and Impairment of PP&E) in the reporting period grew by 7.3%, up to RUR 13,260 mn.

EBITDA for 1H 2016 increased by 3.5% year-on-year, up to RUR 18,193 mn.

Mosenergo IFRS profit for the 1H 2016 increased to RUR 10,021 mn growing thus by 21.8%.

MOSENERGO PR DEPARTMENT

Tel.: Fax:

Е-mail: Website:

(495) 957-1-957, ext. 2282, 2290

(495) 957-37-99

press-centre@mosenergo.ru http://www.mosenergo.ru

OAO Mosenergo published this content on 25 August 2016 and is solely responsible for the information contained herein.
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