RELEASE
May 6, 2020
Moscow
Mosenergo Releases 1Q 2020 IFRS Results
Mosenergo releases unaudited consolidated interim abbreviated financial statements (prepared in accordance with IFRS) for the 3 months ended March 31, 2020.
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Consolidated Statement of Comprehensive Income
Key Figures, (mn RUR)
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3M 2019
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3M 2020
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Change
|
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Revenue
|
67,092
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59,799
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-10.9%
|
|
Operating Costs(1)
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(54,437)
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(51,474)
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-5.4%
|
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EBITDA(2)
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16,936
|
12,961
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-23.5%
|
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Depreciation and Amortization
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(4,451)
|
(5,653)
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+27.0%
|
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Operating Profit
|
12,485
|
7,308
|
-41.5%
|
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Profit for the Period
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10,662
|
5,696
|
-46.6%
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(1) Without Depreciation and Amortization
(2) Calculated as "Operating Profit + Depreciation and Amortization"
OJSC "Mosenergo" and subsidiaries revenue for 1Q 2020 decreased by 10.9% year-on-year, down to RUR 59,799 mn. The reason for the decline was lower revenue from electricity and heat sales (-14.7% and -11.2%, correspondingly), resulting from decreased operating performance and warmer weather in 2020 heating season.
Operating costs for 3M 2020 decreased year-on-year by 5.4% down to RUR 51,474 mn.
EBITDA amounted to RUR 12,961 mn (-23.5% year-on-year).
Mosenergo Group IFRS profit for 1Q 2020 decreased by 46.6%, down to RUR 5,696 mn.
06-May-2020 CET/CEST The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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