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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 (EBITDA2) 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 profit1 |
6,5 |
6,7 |
3,1% |
|
Sales profit margin, % |
11,2% |
10,9% |
- 0,3 p.p. |
|
EBITDA2 |
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 debt3 |
42,0 |
42,6 |
1,4% |
|
[1] Revenue net of costs, selling and administrative expenses | |||
|
[2] EBITDA is calculated as follows: net profit + profit tax and other similar mandatory payments + interest payable + depreciation charges | |||
|
[3] 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 debt3 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/