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ROSSETI Center and Volga Region

January 22, 2024

Rosseti Centre and Volga region approved the Business Plan for 2024

A meeting of the Board of Directors of Rosseti Centre and Volga region, PJSC was held, which approved the Company’s Business Plan for 2024 and took note of the forecast indicators for 2025-2028. The Business Plan for 2024 and the forecast indicators for 2025-2028 were formed in accordance with the Forecast of socio-economic development of the Russian Federation. The document contains the main parameters of the Company’s activities for the next 5 years, including in terms of the planned volume of electricity transmission services, the level of electricity losses, the Company’s revenue in the main areas of activity and expenses of the Companies, as well as the expected financial result for the entire planning period.

Indicators of the Company’s Business Plan for 2024:

   Data in mln RUB, unless specified otherwise

Indicators

Planned for

2024

Expected fact for 2023

Change

Revenue (total), including:

133 293

125 716

6,0%

Revenue from electric energy transmission

126 057

119 643

5,4%

Revenue from grid connection

3 880

3 138

23,6%

Revenue from other activity

3 356

2 935

14,3%

Cost of sales (taking into account selling and administrative expenses)

115 925

106 816

8,5%

EBITDA1

32 752

30 882

6,1%

EBITDA margin, %

24,6%

24,6%

0,0 p.p.

Net profit

10 481

11 571

-9,4%

Net profit margin, %

7,9%

9,2%

-1,3 p.p.

Amount of electric energy transmitted2, million kWh

49 819

49 761

0,1%

Electric energy losses, %

7,38%

7,35%

0,03 p.p.

Indicators

Planned for 31.12.2024

Expected fact for 31.12.2023

Change

Total assets

181 431

178 073

1,9%

Net assets

105 267

98 112

7,3%

Net debt3

23 856

20 247

17,8%

 

[1] EBITDA is calculated as follows: profit before tax + interest payable + depreciation charges

[2] Taking into account generator voltage

[3] Net debt is calculated as follows: long-term debt + short-term debt – cash and cash equivalents – short-term financial investments

 

The volume of electricity transmission services, according to the Business Plan for 2024, will increase relative to the expected fact in 2023 by 0,1% and will amount to 49 819 million kW. A positive change in the volume of net supply in 2024 relative to 2023 is expected due to an increase in electricity consumption by large industrial consumers and oil industry enterprises. The relative amount of electricity losses planned for 2024 is 7,38%. The increase in losses is due to consolidation of grids. For 2024 and subsequent periods, measures are planned to reduce losses, including the implementation of targeted organizational and technical measures, as well as the installation of commercial and technical electricity metering as part of the investment program and non-tariff sources.

The growth in revenue from electricity transmission services planned in the Business Plan for 2024 by 5,4% relative to the expected fact in 2023 is due to the expected increase in the volume of the service provision and a change in unified “boiler” tariffs. The increase in revenue from grid connection services in 2024 compared to the expected fact in 2023 (+23,6%) is associated with the planned implementation in 2024 of large connection contracts in the Kaluga and Tula regions. In 2024, the Company will continue to work to increase the volume of provision of unregulated services and forecasts receipt of revenue from other activities in the amount of at least 3 356 million RUB, which is 14,3% higher than the expected fact in 2023. The increase in revenue in 2024 is ensured by growth in income from services for construction and installation work, consulting, organizational and technical services, and other services.

The increase in the cost of sales in 2024 relative to the expected result in 2023 is mainly due to inflationary factors, increased costs for compensation for electricity losses and payment for services of grid organizations.

Earnings before interest, taxes, depreciation and amortization (EBITDA) is projected above the expected fact in 2023 by 6,1% and will amount to 32 752 million RUB. Net profit for 2024 is projected in the amount of 10 481 million RUB. In general, the Business Plan provides a positive financial result of activities for the entire planning period, which indicates the stable financial condition of the Company.

Other IR-news of the Company can be found at: https://mrsk-cp.ru/press/novosti-ir/.

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