RELEASE
March 6, 2020
Moscow
Mosenergo Releases 2019FY IFRS Results
Mosenergo releases audited consolidated financial statements (prepared in accordance with IFRS) for the 12 months ended December 31, 2019.
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Consolidated Statement of Comprehensive Income Key Figures, (mn RUR)
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2018
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2019
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Change
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Revenue
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198,870
|
189,777
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-4.6%
|
|
Operating Costs
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(127,542)
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(127,536)
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+4.0%
|
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EBITDA(1)
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41,085
|
21,972
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-46.5%
|
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Depreciation and Amortization
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(15,177)
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(15,359)
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+1.2%
|
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Operating Profit
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25,908
|
6,613
|
-74.5%
|
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Profit for the Period
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21,405
|
9,599
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-55.2%
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(2) Calculated as "Operating Profit + Depreciation and Amortization"
Mosenergo revenue for 2019FY decreased by 4.6% year-on-year, down to RUR 189,777 mn. The reason for the decline was lower revenue from capacity sales (-24.7%) on the back of capacity supply agreements expiry for three units, as well as lower revenue from heat sales (-5.3%), resulting from warmer weather in 2019 heating season. The revenue decrease was partly counterweighted by electricity output growing by 3.1%.
Operating costs increased 4.0%, up to RUR 179,290 mn.
EBITDA amounted to RUR 21,972 mn (-46.5% year-on-year).
Mosenergo IFRS profit for 2019FY decreased by 55.2%, down to RUR 9,599 mn.
06-March-2020 CET/CEST The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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