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RELEASE
November 8, 2019
Moscow
Mosenergo Releases 9M 2019 IFRS Results
Mosenergo releases abbreviated interim unaudited consolidated financial statements (prepared in accordance with IFRS) for the 9 months ended September 30, 2019.
Consolidated Statement of Comprehensive Income
Key Figures, (mn RUR) |
9M 2018 |
9M 2019 |
| Revenue |
135,988 |
133,378 |
| Operating Costs |
(117,923) |
(120,895) |
| Operating Profit |
17,019 |
12,674 |
| EBITDA (1) |
28,161 |
24,281 |
| EBITDA, adj. (2) |
29,452 |
24,396 |
| Profit for the Period |
14,045 |
12,624 |
(1) EBITDA = Operating Profit + Depreciation and Amortization
(2) Adjusted to net charge for impairment and other provisions
Mosenergo revenue for 9M 2019 decreased by 1.9% year-on-year down to RUR 133,378 mn. The reason for the decline was lower revenue from capacity sales (-27.7%) on the back of capacity supply agreements expiry for three units, as well as lower revenue from heat sales (-2.8%), on the back of output decline, resulting from warmer weather in the reporting period, which was partly counterweighted electricity output growing by 7.3%.
Operating costs in the reporting period amounted to RUR 120,895 mn, up by 2.5%, mainly on the account of fuel expenses growing by 4.3% on the back of increased electricity output.
EBITDA amounted to RUR 24,281 mn (-13.8% year-on-year).
Mosenergo IFRS profit for 9M 2019 decreased by 10.1%, down to RUR 12,624 mn.
MOSENERGO PR DEPARTMENT
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