According
to the prepared in accordance with the Russian Accounting Standards
statements for 1Q 2022, revenue of Rosseti Centre and Volga region,
PJSC (the ticker - MRKP) was 29 318,0 mln RUB, including from
electric energy transmission – 28 497,8 mln RUB, from grid
connections – 503,9 mln RUB, and other revenue – 316,3 mln RUB.
Sales profit1
was 6 405,4 mln RUB. Earnings before interest, taxes,
depreciation and amortization (EBITDA2)
reached 9 604,2 mln RUB, EBITDA margin increased against the
same period last year and was 32,8%. Net profit increased by 14,7% up
to 4 865,6 mln RUB.
Data in million RUB, unless specified otherwise
Indicators
|
3M
2022
|
3M
2021
|
Change
|
Revenue (total), including:
|
29 318,0
|
28 086,5
|
4,4%
|
Revenue from electric energy transmission
|
28 497,8
|
27 511,9
|
3,6%
|
Revenue from grid connection
|
503,9
|
332,0
|
51,8%
|
Other revenue
|
316,3
|
242,6
|
30,4%
|
Cost of sales
|
22 750,2
|
22 236,9
|
2,3%
|
Sales profit1
|
6 405,4
|
5 667,1
|
13,0%
|
Sales profit margin, %
|
21,8%
|
20,2%
|
1,6 p.p.
|
EBITDA2
|
9 588,6
|
8 143,6
|
17,7%
|
EBITDA margin, %
|
32,7%
|
29,0%
|
3,7 p.p.
|
Net profit
|
4 865,6
|
4 241,7
|
14,7%
|
Net profit margin, %
|
16,6%
|
15,1%
|
1,5 p.p.
|
Amount of electric energy transmitted, million kWh
|
12 886,3
|
12 868,6
|
0,1%
|
Electric energy losses, %
|
8,48%
|
8,40%
|
0,08 p.p.
|
Indicators
|
As
of 31.03.2022
|
As
of 31.12.2021
|
Change
|
Total assets
|
150 330,7
|
146 691,9
|
2,5%
|
Net assets
|
86 054,6
|
81 148,6
|
6,0%
|
Loans and credits
|
27 124,9
|
26 928,9
|
0,7%
|
Cash and cash equivalents + Financial investments (short-term)
|
5 238,6
|
437,9
|
1 096,3%
|
Net debt3
|
21 886,3
|
26 491,0
|
-17,4%
|
[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 debt + short-term debt –
cash and cash equivalents – short-term financial investments
|
The
volume of electricity transmission services remained practically
unchanged compared to the same period last year and amounted to 12
886,3 million kWh. The level of electricity losses slightly increased
by 0,08 p.p. and amounted to 8,48%. The increase in the indicator is
caused by the inclusion in the calculation of the volume of losses in
grids consolidated in 2021.
Due
to an increase in electricity consumption and growth in the boiler
tariff from 1 July 2021, the revenue for electricity transmission
services in 1Q 2022 increased by 3,6% compared to the same period in
2021. The increase in the revenue from grid connection by
51,8% is due to an increase in the volume of connected capacity in 1Q
2022 of large facilities in the Ryazanenergo and Udmurtenergo
branches. Other revenue increased by 30,4% and amounted to 316,3 mln
RUB, which is due to the company’s efforts to expand
the volume and range of non-regulated services provided.
Expenses
attributable to the cost of sales increased by 2,3% compared to 1Q
2021. Despite the high growth rate of consumer prices, the Company
makes every effort to maintain production efficiency and financial
stability, which made it possible to ensure a positive trend in the
financial result in the reporting period.
The
Company’s total assets as of 31 March 2022 were 150 330,7 mln
RUB (an increase of 2,5% in comparison with 31 December 2021). The
Company’s net assets increased by 6,0% and reached 86 054,6
mln RUB. The net debt3 decreased by 17,4% and amounted to
21 886,3 mln RUB.
The
Company’s statements for 1Q 2022 can be found at:
https://www.mrsk-cp.ru/en/stockholder_investor/disclosure_reporting_info/finansovaya-informatsiya-i-otchetnost/ras-accounting-statements/
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