IDGC of Centre took part in the conference of Financial Group "BCS", dedicated to the Russian electric power industry

November 20, 2013 in Moscow at the conference «Utilities Day», organized by FG «BCS», IDGC of Centre’s management held meetings with representatives of the investment community. The event was attended by representatives of large electric power and investment companies: JSC «Russian Grids», JSC «RusHydro», JSC «Inter RAO», Mosenergo, JSC «Moscow United Electric Grid», MC «Alfa Capital», JSC «Sberbank Asset Management», LLC «Gazprom investholding», Prosperity Capital Management and others.

As part of the «Utilities Day» IDGC of Centre’s management held 5 meetings with representatives of investment companies. During the talks the results of the company for 9 months of 2013 were announced and commented on, including the financial results under RAS: for 9 months 2013 the revenue of IDGC of Centre increased and amounted to 64.5 billion rubles, while earnings before interest, taxes, depreciation and amortization (EBITDA^[1]) reached 8.1 billion rubles. The meetings addressed issues of recent changes in legislation, the specific features of the branches operation, where the company started performing the functions of a supplier of last resort in 2013, and the main areas of work in 2014. Particular attention was paid to the results of the company to improve its operating activities, which are supported by the reduction of accounts receivables by 8.2% and decrease of administrative expenses by 9.6% for 9 months of 2013. The company’s plans to continue to reduce costs under control and optimize the cost of investment were announced as well.

Participation in such events is considered by the management as a priority in the strategic objective to increase the investment attractiveness of the company. The meetings were attended by Sergey Rumyantsev — Deputy General Director for Economy and Finance, Olga Tkacheva — Deputy General Director for Corporate Governance (ranked in the top −1000 Russian Managers) and Sergey Ternikov — Head of IR Division. Olga Tkacheva after the conference emphasized that «direct communication with shareholders and investors is a good tradition that allows creating a positive perception of the company among the investment community». In turn, representatives of FG «BCS» thanked the company’s management for the participation in the conference and invited to the «Utilities Day» next year.

More details of the presentation materials for the conference, as well as sign up for the materials of the company can be found at: http://www.mrsk-1.ru/ru/investors/presentations/

1. [1] EBITDA is calculated as follows: net profit + income tax and other similar mandatory payments + interest payable — interest receivable + depreciation and amortization