MRSK Tsentra : IDGC of Centre published financial statements for 9 months of 2016 under RAS, net profit amounted to 1,3 bln RUB
October 26, 2016 at 05:51 am EDT
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26 October 2016
According to statements for 9 months of 2016 under Russian Accounting Standards IDGC of Centre's revenue amounted to 61,6 bln RUB, including from electricity transmission - 60,0 bln RUB, from grid connection - 0,9 bln RUB and other revenue - 0,7 bln RUB. Sales profit was 6,7 bln RUB, sales profit margin decreased and amounted to 10,9%. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 7,8% and reached 12,5 bln RUB. Net profit showed growth by 44,4% compared to the same indicator of last year and amounted to 1,3 bln RUB.
Data in bln RUB, unless specified otherwise
Indicators
9M 2015
9M 2016
Change, %
Revenue (total), including:
57,8
61,6
6,6%
Revenue from electric energy transmission
56,4
60,0
6,4%
Revenue from grid connection
0,8
0,9
12,5%
Other revenue
0,6
0,7
16,7%
Cost of sales
49,6
53,5
7,9%
Sales profit
6,5
6,7
3,1%
Sales profit margin, %
11,2%
10,9%
- 0,3 p.p.
EBITDA
11,6
12,5
7,8%
EBITDA margin, %
20,1%
20,3%
0,2 p.p.
Net profit
0,9
1,3
44,4%
Net profit margin, %
1,6%
2,1%
0,5 p.p.
Amount of electric energy transmitted, billion kWh
40,3
41,1
2,0%
Electric energy losses, %
8,57%
8,57%
0,00 p.p.
Indicators
As at 31.12.2015
As at 30.09.2016
Change, %
Total assets
117,9
121,1
2,7%
Net assets
56,3
57,2
1,6%
Loans and credits
42,1
42,6
1,2%
Cash and cash equivalents + Financial investments
0,1
0,1
0,0%
Net debt
42,0
42,6
1,4%
Revenue net of costs, selling and administrative expenses
EBITDA is calculated as follows: net profit + profit tax and other similar mandatory payments + interest payable + depreciation charges
Net debt is calculated as follows: long-term debt + short-term debt - cash and cash equivalents - financial investments
Revenues for electricity transmission services for 9 months of 2016 showed an increase compared to the same period of 2015 due to higher tariffs for electricity transmission and growth of the volume of rendered electric energy transmission services. A significant contribution to the increase in the cost of services was made by growth of depreciation expenses by 8,7% as a result of increasing the value of fixed assets of the company, growth in the cost of compensation for electricity losses and the cost of electric energy transmission services of territorial grid companies as a result of rising prices. At the same time the company managed to reduce administrative expenses by 12,9%. EBITDA increased by 0,9 bln RUB, and the indicator margin was 20,3%.
The volume of electricity transmission services amounted to 41,1 bln kWh,compared to the same period last year there was an increase in the volume by 2,0% due to increased energy consumption by large metallurgical enterprises. The level of electricity losses remained unchanged.
The Company's total assets as at 30 September 2016 increased by 2,7% and amounted to 121,1 bln RUB. The Company's net assets amounted to 57,2 bln RUB. Net debt was 42,6 bln RUB (as at 31 December 2015 - 42,0 bln RUB).
The Company's statements for 9 months of 2016 can be found on the website at: https://www.mrsk-1.ru/en/information/statements/rsbu/2016/
IDGC of Centre JSC published this content on 26 October 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 October 2016 09:51:07 UTC.
Original documenthttps://www.mrsk-1.ru/en/press-center/news/company/57334/
Public permalinkhttp://www.publicnow.com/view/89AE14638662D5A2C2C84229767FC30183B3B634
Rosseti Tsentr PAO, formerly MRSK Tsentra PAO is a Russia-based company, which is engaged in the electric power industry. The company conducts business in 11 regions of the Central part of Russia, providing electricity to the population, industrial companies, and enterprises of transport and agriculture, carrying out the technological connection of new consumers to electric networks. The Company focuses on the transmission and distribution of electric power domestically, mainly on the territory of the Central Federal District. Rosseti Tsentr PAO operates through a number of branches, located in Belgorod, Bryansk, Voronezh, Kostroma, Kursk, Lipetsk, Orel, Smolensk, Tambov, Tverâ and Yaroslavl.
ROSSETI CENTRE 
