IDGC
of Centre has published its unaudited interim condensed consolidated
financial statements for 9 months of 2017 in accordance with
International Financial Reporting Standards (IFRS). IDGC of Centre’s
revenue for the reporting period was 65,8 bln RUB, including from
electric energy transmission services — 63,7 bln RUB, from grid
connection services — 0,9 bln RUB, from resale of electric energy
and power — 0,4 bln RUB and other revenue — 0,8 bln RUB. Earnings
before Interest, Taxation, Depreciation & Amortisation (EBITDA)
increased by 15,6% and amounted to 14,8 bln RUB.
Data in billion RUB, unless specified otherwise
Indicators
|
9M 2016
|
9M 2017
|
Change, %
|
Revenue (total), including:
|
61,8
|
65,8
|
6,5%
|
Electric energy transmission services
|
60,0
|
63,7
|
6,2%
|
Grid connection services
|
0,9
|
0,9
|
0,0%
|
Revenue from resale of electric energy and power
|
0,0
|
0,4
|
-
|
Other revenue
|
0,9
|
0,8
|
- 11,1%
|
Operating costs
|
56,2
|
59,0
|
5,0%
|
Other income
|
0,7
|
0,7
|
0,0%
|
Operating profit
|
6,3
|
7,4
|
17,5%
|
EBITDA
|
12,8
|
14,8
|
15,6%
|
Profit for period
|
3,3
|
2,5
|
- 24,2%
|
Indicators
|
As at 31.12.2016
|
As at 30.09.2017
|
Change, %
|
Total equity
|
43,3
|
43,7
|
0,9%
|
Total assets
|
107,0
|
105,1
|
- 1,8%
|
Borrowings and loans
|
43,3
|
42,1
|
- 2,8%
|
Cash and cash equivalents
|
2,6
|
2,5
|
- 3,8%
|
Net debt1
|
40,7
|
38,6
|
-5,2%
|
[1] Net debt is calculated as follows: long-term debt + short-term
debt – cash and cash equivalents
The main factors that have influenced the consolidated revenue
indicator are: the increase in the tariff for the transmission of
electricity, the termination of “last mile” contracts with
customers from 01.07.2017 and the emergence of revenue from resale of
electric energy and power due to picking up the functions of the
supplier of last resort in the Tver region.
Positive impact on the EBITDA indicator was made by the slower
growth of operating costs compared to the growth rate of revenue and
an increase in the average tariff for the transmission of
electricity. The profit for the period was 2,5 bln RUB, which is
lower than the similar indicator of the previous year, mainly due to
the additional taxation because of the exclusion from non-operating
expenses for tax purposes of costs for mobilization preparation.
As at 30 September 2017 IDGC of Centre’s assets totalled 105,1
bln RUB (as at 31 December 2016 — 107,0 bln RUB). Net debt1
decreased to 38,6 bln RUB (as at 31 December 2016 — 40,7 bln RUB).
The net debt reduction was facilitated by repayment of the debt in
accordance with the contractual terms and refinancing of loans.
The Company’s consolidated financial statements can be found at:
https://www.mrsk-1.ru/en/information/statements/msfo/2017/
|
