The Rosseti Centre company published its financial statements for
2021 under RAS, net profit increased by 46,6%
According to the prepared in accordance with the
Russian Accounting Standards statements for 12 months of 2021,
revenue of Rosseti Centre, PJSC (the ticker - MRKC) was 103 168,3 mln
RUB, including from electric energy transmission – 97 771,1 mln
RUB, from grid connections – 1 486,8 mln RUB, from sale of electric
energy and power – 591,2 mln RUB and other revenue – 3 319,2
mln RUB. Sales profit was 10 617,8 mln RUB. Earnings before interest,
taxes, depreciation and amortization (EBITDA2) reached 20
536,3 mln RUB, EBITDA margin increased against the same period last
year and was 19,9%. Net profit increased by 46,6% up to 4 147,1 mln
RUB.
Data in million RUB, unless specified otherwise
Indicators
|
12M 2021
|
12M 2020
|
Change
|
Revenue (total), including:
|
103 168,3
|
94 984,9
|
8,6%
|
Revenue from electric energy transmission
|
97 771,1
|
90 490,5
|
8,0%
|
Revenue from grid connection
|
1 486,8
|
1 306,0
|
13,8%
|
Revenue from sale of electric energy and power
|
591,2
|
531,2
|
11,3%
|
Other revenue
|
3 319,2
|
2 657,2
|
24,9%
|
Cost of sales
|
90 218,9
|
84 889,2
|
6,3%
|
Sales profit1
|
10 617,8
|
7 689,2
|
38,1%
|
Sales profit margin, %
|
10,3%
|
8,1%
|
2,2 p.p.
|
EBITDA2
|
20 536,3
|
18 516,8
|
10,9%
|
EBITDA margin, %
|
19,9%
|
19,5%
|
0,4 p.p.
|
Net profit
|
4 147,1
|
2 829,7
|
46,6%
|
Net profit margin, %
|
4,0%
|
3,0%
|
1,0 p.p.
|
Amount of electric energy transmitted*, million kWh
|
47 846,7
|
45 475,2
|
5,2%
|
Electric energy losses, %
|
9,76%
|
9,83%
|
-0,07 p.p.
|
Indicators
|
As of 31.12.2021
|
As of 31.12.2020
|
Change
|
Total assets
|
138 898,9
|
130 309,7
|
6,6%
|
Net assets
|
61 335,3
|
58 593,8
|
4,7%
|
Loans and credits
|
42 287,6
|
45 297,7
|
-6,6%
|
Cash and cash equivalents + Financial investments (short-term)
|
3 461,0
|
1 036,2
|
234,0%
|
Net debt3
|
38 826,6
|
44 261,5
|
-12,3%
|
[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
debt + short-term debt – 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 services for the transmission of
electricity amounted to 47 846,7 million kWh, compared to the same
period last year, there was an increase by 5,2% thanks to the
deviation of winter temperatures from the average annual values and
the growth of business activity due to the easing of restrictive
measures. The level of electricity losses decreased by (-0,07) p.p.
and was 9,76%. The main reason for the change in the level of losses
is the purposeful implementation of a program of measures to reduce
electricity losses.
Revenue for electricity transmission services
following the results of 12 months of 2021 increased by 8,0% against
the same period of 2020 due to growth in electricity consumption and
an increase in the tariff for electricity transmission from 1 July
2021. Revenue from grid connection services following the results of
12 months of 2021 increased by 13,8% against the same period of 2020
thanks to the completion of large grid connection contracts in the
4th quarter of 2021. Other revenue for 12 months of 2021 against the
same period of 2020 increased by 24,9% and was 3 319,2 mln RUB. The
growth in the other revenue reflects the Company’s strategic
priority to increase non-tariff revenues.
The Company’s total assets as of 31 December
2021 increased and amounted to 138 898,9 mln RUB. The Company’s net
assets grew up by 4,7% and amounted to 61 335,3 mln RUB. The net
debt3 decreased to 38 826,6 mln RUB (as of 31 December
2020 – 44 261,5 mln RUB).
The Company’s statements for 12 months of 2021
can be found at:
https://www.mrsk-1.ru/en/information/statements/rsbu/2021/.
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