According to the prepared in accordance with the Russian Accounting Standards statements for 12 months of 2023, revenue of Rosseti Centre, PJSC (the ticker – MRKC) was 123 264,9 mln RUB, including from electric energy transmission – 112 578,0 mln RUB, from grid connections – 4 548,3 mln RUB, from sale of electric energy and power – 416,8 mln RUB and other revenue – 5 721,8 mln RUB. Sales profit was 15 526,0 mln RUB. Earnings before interest, taxes, depreciation and amortization (EBITDA²) reached 24 896,4 mln RUB, EBITDA margin practically did not change compared to the same period last year and amounted to 20,2%. Net profit increased by 34,8% up to 6 114,8 mln RUB.

Data in million RUB, unless specified otherwise

^[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 decreased slightly compared to the same period in 2022 and amounted to 47 291,6 million kWh. At the same time, the level of electricity losses increased by 0,05 p.p. and amounted to 10,29%. The main reason for the change in production indicators was a decrease in the volume of electricity transmission to large consumers of the Belgorodenergo, Bryanskenergo, Lipetskenergo and Orelenergo branches.

The revenue for electricity transmission services for 12 months of 2023 increased by 10,7% compared to the same period in 2022 due to the indexation of tariff rates for electricity transmission services from 1 July 2022 and from 1 December 2022. The revenue from grid connection services in the reporting period increased by 81,1% due to the cancellation of the preferential rate for grid connections and in connection with the execution of contracts for connecting large industrial enterprises in the Kursk and Lipetsk regions.

The other revenue for 12 months of 2023 compared to the same period in 2022 increased by 16,0% and amounted to 5 721,8 mln RUB. The growth of the other revenue is due to the Company’s efforts to develop the non-tariff segment of its activities, in particular, projects for maintenance and construction of outdoor lighting networks, work on comprehensive landscaping of territories and provision of turnkey services in the branches of the Company’s presence.

The cost of sales for 12 months of 2023 compared to the same period last year increased by 12,3% and amounted to 105 693,3 mln RUB. The increase in the costs is due to inflationary pressure.

The EBITDA² indicator increased by 9,5% and amounted to 24 896,4 mln RUB.

The net profit at the end of 2023 amounted to 6 114,8 mln RUB, and the net profit margin increased to 5,0%.

The Company’s total assets as of 31 December 2023 increased and amounted to 148 632,4 mln RUB. The Company’s net assets grew up by 10,2% and amounted to 60 863,7 mln RUB. The net debt3 decreased to 31 252,7 mln RUB (as of 31 December 2022 – 32 320,2 mln RUB).

The Company’s statements for 12 months of 2023 can be found at: https://www.mrsk-1.ru/en/information/statements/rsbu/2023/.