MRSK Tsentra : IDGC of Centre held a conference call and a webcast dedicated to the consolidated results of the company’s activities for the first half of 2017 (IFRS)

Based on the results of the publication of the unaudited interim condensed consolidated financial statements for the first half of 2017 under IFRS, IDGC of Centre's management held a conference call with representatives of the investment community to broadcast the presentation on the Internet dedicated to the activity results for 6 months of 2017 and forecasts for 2017. From the company, the event was attended by Sergey Rumyantsev, Adviser to General Director, Sergey Sharapov, Deputy General Director for Corporate Governance, and Sergey Ternikov, Head of IR. During the event, the main results of the work for the first half of 2017 were announced, the consolidated financial statements under IFRS for the first half of 2017 were presented, comments were made on the main factors affecting the company's activities, and planned performance indicators according to the approved company's Business Plan for 2017 were also presented.

During the conference, Sergey Rumyantsev noted that the company continues to increase operational efficiency and to improve investment attractiveness. Tariffs for electricity transmission and an increase in the volume of electricity transmission services were announced as the main factors that had the strongest impact on the company's results for the first half of 2017. At the same time, IDGC of Centre continues to increase the volume of grid assets, reduces failures at its facilities and is actively working to reduce technological losses of electricity.

The company performs its duties in a qualitative and responsible manner to connect new customers, consistently shortening the deadline for the implementation of relevant contracts.

Commenting the consolidated statements, the speaker stressed that the positive impact on the final financial result for the first half of 2017 was also made by efforts to optimize manageable costs. The company managed to reduce rental costs, communication services and transportation services. Work on optimization of expenses for works and services of industrial character is continued. The decrease in the average weighted borrowing rate to 10.23% also contributed to a reduction in the company's debt servicing costs. Sergey Rumyantsev paid special attention to the company's efforts to reduce accounts receivable, which declined by more than 2.5 billion rubles in the first half of the year. In the conclusion of the presentation, the company's achievements in the field of corporate governance were noted. At the end of 2016, the company paid its shareholders 100% of net profit under RAS in the amount of 1.9 billion rubles. The company continues to be the leader among distribution grid companies in terms of disclosure and level of interaction with the investment community.

The full version of the conference call and webcast (only in Russian), as well as a question-and-answer session, can be found on the link.

The presentation of the company (only in Russian), dedicated to the results for the first half of 2017, can be found on the link.