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ROSSETI

March 27, 2020

Rosseti’s net profit for 2019 reaches RUB 135 billion, according to RAS

Rosseti announces the 2019 financial and economic results in line with the Russian accounting standards.

The company received a net profit of RUB 135.2 billion last year. The net assets amounted to RUB 484.2 billion and as of December 31, 2019 they exceeded the authorized capital by RUB 283.3 billion.

Rosseti has demonstrated stable performance and strong growth over the past three years. The improvement of operational efficiency, the reduction of costs through the use of digital technology and improved transparency for our shareholders remain the priority growth areas of the company. “Being one of the world leaders in the electric grid complex, Rosseti continues to strengthen its position guided by the best international practices and trying to change along with the needs of our customers,” said Pavel Livinskiy, Director General of Rosseti, when commenting the indicators.

According to the Head of the Holding, the company's strategy until 2030 adopted at the end of the year not only forms the key development goals and sets quantitative milestones for their achievement but “it is also aimed at continued development of the electric grid complex and diversification of business activities for the benefit of consumers, shareholders and the state.”

“I am convinced that, in close cooperation with the Government of the Russian Federation and relevant ministries, the set objectives will be achieved in a timely manner,” said Pavel Livinskiy.

For the full 2019 Rosseti Profit and Loss Report, please refer to the appropriate section on the official website.

 

 

 

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