November 19, 2014 IDGC of Centre’s management took part in the "Utilities Day" Conference, organized by FG "BCS". The event brought together representatives of large electric power and investment companies: "Russian Grids" (JSC), "Inter RAO" (JSC), "Moscow United Electric Grid" (JSC), "Alfa Capital" AM (Ltd.), "Sberbank Asset Management" (CJSC), "UralSib AM" (CJSC), "Investment Standard" AM (CJSC), "Transfingroup " AM (CJSC), East Capital and others.
At the conference IDGC of Centre was represented by Deputy General Director for Economy and Finance Sergey Rumyantsev, Acting Deputy General Director for Corporate Governance Olga Kharchenko, and Head of IR Sergey Ternikov. In the framework of the "Utilities Day" they held a series of meetings with representatives of investment companies. Their main topic for discussion was the results of the company for 9 months of 2014 and forecasts for the end of 2014. Thus, during this period IDGC of Centre's revenue under RAS was 64.6 bln RUB, while earnings before interest, taxes, depreciation and amortization (EBITDA 1]) increased by 46.9% and reached 11.9 bln RUB. Significantly, net profit rose to 2.2 bln RUB. The meetings also reviewed the outcome of performing the functions of a supplier of last resort by the company, the effectiveness of the implementation of its investment program and measures to reduce controllable costs.
Particular attention was paid to the results achieved in the area of improving the reliability and quality of electricity supply to customers. As the representatives of IDGC of Centre’s management noted, electricity losses of the company for 9 months of 2014 were reduced from 8.58% to 8.42% compared to the same period last year. They also announced plans to continue decreasing IDGC of Centre’s controlled costs and investment expenses optimization.
IDGC of Centre for the second year in a row has participated in the "Utilities Day" conference. The company hopes that this tradition will continue in the coming year, as participation in such events is an integral part of efforts to improve transparency, it allows to bring closer positions of its management and the investment community in the main areas of development, promotes investors’ confidence in economically unfavourable periods.
More details of the presentation materials for the conference can be found at: http://www.mrsk-1.ru/ru/investors/presentations/
EBITDA is calculated as follows: net profit + profit tax and other similar mandatory payments + interest payable - interest receivable + depreciation charges