According to the prepared in accordance with the Russian Accounting
Standards statements for 6 months of 2024, revenue of Rosseti Centre,
PJSC (the ticker – MRKC) was 62 557,9 mln RUB, including from
electric energy transmission – 58 892,5 mln RUB, from grid
connections – 1 975,5 mln RUB and other revenue – 1 689,9 mln
RUB. Sales profit1 was 8 396,5 mln RUB. Earnings before interest,
taxes, depreciation and amortization (EBITDA2) increased
by 5,9% and reached 15 582,2 mln RUB. Net profit amounted to 4 541,3
mln RUB.
Data in million RUB, unless specified otherwise
Indicators
|
6M 2024
|
6M 2023
|
Change
|
Revenue
|
62 557,9
|
59 967,4
|
4,3%
|
Cost of sales
|
53 335,7
|
50 301,0
|
6,0%
|
Sales profit1
|
8 396,5
|
8 849,6
|
-5,1%
|
Sales profit margin, %
|
13,4%
|
14,8%
|
-1,4 p.p.
|
EBITDA2
|
15 582,2
|
14 713,3
|
5,9%
|
EBITDA margin, %
|
24,9%
|
24,5%
|
0,4 p.p.
|
Net profit
|
4 541,3
|
5 112,6
|
-11,2%
|
Net profit margin, %
|
7,3%
|
8,5%
|
-1,2 p.p.
|
Amount of electric energy transmitted*,
million kWh
|
24 743,6
|
23 749,7
|
4,2%
|
Electric energy losses, %
|
10,04%
|
10,16%
|
-0,12 p.p.
|
Indicators
|
As of 30.06.2024
|
As of 31.12.2023
|
Change
|
Total assets
|
150 047,6
|
148 632,4
|
1,0%
|
Net assets
|
61 757,1
|
60 863,7
|
1,5%
|
Net debt3
|
27 729,0
|
31 252,7
|
-11,3%
|
[1] Revenue net of cost of
sales, selling and administrative expenses
[2] EBITDA is calculated as
follows: Profit before tax + Interest payable + Depreciation
[3] Net debt is calculated as
follows: long-term borrowed funds + short-term borrowed funds –
cash and cash equivalents – short-term financial investments
[*] Taking into account the
volume of services for the transmission of electricity in the
territory of execution of the functions of the electricity supplier
of last resort in the Tver region in the service area of JSC
Transservisenergo
The volume of electricity transmission services
was 24 743,6 million kWh. Compared to the same period last year,
there was an increase in the volume of services by 4,2%, which is
mainly due to changes in the power consumption patterns of large
consumers, as well as the climatic factor due to fluctuations in
ambient temperature relative to the same period last year. As a
result of comprehensive work to reduce electricity losses, their
level has dropped to 10,04% (by 0,12 p.p.).
The revenue from electricity transmission services
following the results of 6 months of 2024 increased by 4,6% relative
to the same period in 2023 mainly due to growth in electricity
consumption in the regions of presence. The revenue from grid
connection services following the results of 6 months of 2024
increased by 20,7% relative to the same period in 2023 due to growth
in revenue in the category up to 150 kW, as well as completion of
large grid connection projects in the Belgorod and Voronezh regions.
The other revenue for 6 months of 2024 compared to the same period
last year increased by 1,0%, which is due to growth in the volume of
value-added services rendered.
The cost of sales following the results of 6
months of 2024 increased by 6,0% relative to the same period last
year and amounted to 53 335,7 mln RUB. The increase in costs is due
to growth in uncontrolled costs, depreciation and inflationary growth
in operating costs.
The EBITDA2 increased by 5,9% and
amounted to 15 582,2 mln RUB, the EBITDA margin increased by 0,4 p.p.
relative to the same period last year and amounted to 24,9%. The net
profit was 4 541,3 mln RUB, while the net profit margin amounted to
7,3%.
The Company’s total assets as of 30 June 2024
were 150 047,6 mln RUB (as of 31 December 2023 – 148 632,4 mln
RUB). The Company’s net assets grew up by 1,5% and amounted to 61
757,1 mln RUB. The net debt3 decreased by 11,3% in comparison with 31
December 2023 and amounted to 27 729,0 mln RUB.
The Company’s statements for 6 months of 2024
can be found at:
https://mrsk-1.ru/en/information/statements/rsbu/2024/.
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