According
to the prepared in accordance with the Russian Accounting Standards
statements for 1Q 2024, revenue of Rosseti Centre and Volga region,
PJSC (the ticker – MRKP) was 36 047,1 mln RUB, including from
electric energy transmission – 34 770,6 mln RUB, from grid
connections – 966,6 mln RUB and other revenue – 309,9 mln RUB.
Sales profit1
was 7 400,5 mln RUB. Earnings before interest, taxes, depreciation
and amortization (EBITDA2)
increased by 9,5% up to 11 871,7 mln RUB. Net profit amounted to
5 605,0 mln RUB.
Data
in million RUB, unless specified otherwise
Indicators
|
3M
2024
|
3M
2023
|
Change
|
Revenue
(total), including:
|
36
047,1
|
33
835,1
|
6,5%
|
Revenue
from electric energy transmission
|
34
770,6
|
32
927,4
|
5,6%
|
Revenue
from grid connection
|
966,6
|
458,8
|
110,7%
|
Other
revenue
|
309,9
|
448,9
|
-31,0%
|
Cost
of sales
|
28
468,9
|
26
044,0
|
9,3%
|
Sales
profit1
|
7
400,5
|
7
616,2
|
-2,8%
|
Sales
profit margin, %
|
20,5%
|
22,5%
|
-2,0
p.p.
|
EBITDA2
|
11
871,7
|
10
843,1
|
9,5%
|
EBITDA
margin, %
|
32,9%
|
32,0%
|
0,9
p.p.
|
Net
profit
|
5
605,0
|
5
647,1
|
-0,7%
|
Net
profit margin, %
|
15,5%
|
16,7%
|
-1,2
p.p.
|
Amount
of electric energy transmitted3,
million kWh
|
14 233,9
|
13 477,5
|
5,6%
|
Electric
energy losses, %
|
8,15%
|
8,22%
|
-0,07
p.p.
|
Indicators
|
As
of 31.03.2024
|
As
of 31.12.2023
|
Change
|
Total
assets
|
186
019,4
|
181
391,7
|
2,6%
|
Net
assets
|
105
424,2
|
100
215,4
|
5,2%
|
Net
debt4
|
7
812,4
|
13
651,2
|
-42,8%
|
[1] Revenue
net of cost of sales, selling and administrative expenses
[2] EBITDA
is calculated as follows: Profit before tax + Interest payable +
Depreciation
[3] Taking
into account the generator voltage
[4] Net
debt is calculated as follows: long-term borrowed funds +
short-term borrowed funds – cash and cash equivalents –
short-term financial investments
|
The
volume of electricity transmission services3
compared to the same period last year increased by 5,6% and amounted
to 14 233,9 million kWh. The reason for the increase was ambient
temperature fluctuations relative to the same period last year, as
well as an increase in power consumption for a number of industrial
consumers. As a result of the implementation of a set of
organizational and technological measures, the level of electricity
losses decreased to 8,15% of supply to the grid (by 0,07 p.p.). The
revenue from electricity transmission services in the 1st quarter of
2024 increased by 5,6% compared to the 1st quarter of 2023 due to an
increase in electricity consumption in the regions of presence. The
growth in the revenue from grid connection was 110,7%, which is
associated with the execution of large connection contracts in the
Nizhny Novgorod and Ryazan regions, as well as with an increase in
revenue in categories of applicants up to 150 kW. The other revenue
decreased by 31,0%
and amounted to 309,9 mln
RUB due to completion of large projects, including the repair of
outdoor lighting systems and turnkey grid connection services, in the
1st quarter of 2023. The
cost of sales increased relative to the 1st quarter of 2023 by 9,3%
and amounted to 28 468,9 mln RUB. The main increase in the costs is
due to inflationary pressure and growth in the tariff for electricity
transmission services in networks of third-party territorial grid
organizations and in the UNPG. The
Company is making every effort to maintain operational efficiency and
financial stability, which allowed it to achieve a positive financial
result in the 1st quarter of 2024. The EBITDA margin increased by 0,9
p.p. compared to the same period last year and amounted to 32,9%, the
net profit margin amounted to 15,5%.
The
Company’s total assets as of 31 March 2024 were 186 019,4 mln
RUB (an increase by 2,6%
compared to 31 December 2023). The Company’s net assets grew up by
5,2%
and reached 105 424,2
mln RUB. The net debt4
decreased by 42,8%
and amounted to 7 812,4
mln RUB. The
Company’s statements for 1Q 2024 can be found at:
https://www.mrsk-cp.ru/stockholder_investor/disclosure_reporting_info/finansovaya-informatsiya-i-otchetnost/bukhgalterskaya-otchetnost-mrsk-tsentra-i-privolzhya/.
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