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Rosseti North-West

May 22, 2017

PJSC «IDGC of North-West» has published the consolidated IFRS financial statements for the year ended 31 March 2017

The consolidated IFRS financial statements include PJSC «IDGC of North-West» and the following subsidiaries: OJSC «Pskovenergoagent», OJSC «Pskovenergosbyt», OJSC «Lesnaya skazka», OJSC «Energoservice North-West».

 

 Themain items, million rubles

 

The  items

for the three months ended 31 March

2017

2016

Revenue

13,090

12,229

Including:

 

 

- Power transmitting

10,791

10,144

- Sale of electricity

1,721

1,839

- Connection to power network

393

64

Expenses

                (11,858)

                (11,245)

Profit for the period

894

526

Property, plant and equipment

34,811

35,219

Accounts receivable and prepayments

14,416

14,172

Loans

14,445

14,793

EBITDA

2,521

2,131

 

The revenue for the three months ended 31 March 2017 amounted to 13,090 million rubles, including the revenue from power transmitting in amount 10,791 million rubles, sale of electricity in amount 1,721 million rubles, connection to power network in amount 393 million rubles.

The revenue for reporting period increased by 861 million rubles (7%)  in comparison with the similar period of 2016, including due to increase of the revenue from power transmitting by 647 million rubles (6%). The revenue from connection to power network increased by 319 million rubles (a 6 of times).

Non-current assets of Company’s asset profile as of 31 March 2017 comprise 69% and 96% (34,811  million rubles) from it is property, plant and equipment.

Major relative share in the structure of current assets (86%) dominates accounts receivable (14,416 million rubles). Amount of accounts receivable decreased as at 31 March 2017 as compared to 31 March 2016 by 245 million rubles (2%). The main debtors: PJSC "Arkhangelsk energy retail Company", JSC "Novgorodoblelektro", JSC "Shahta Intaugol", JSC "Murmansk region electric company", MUE "Electroset".

Major relative share of liabilities dominates loans and borrowings (46%) that amounted 14,445  million rubles to the end of the reporting period, which is less by 348 million rubles as compared to the beginning of the period. Amount of accounts payable decreased by 1,068 million rubles (10%) mainly due to repayments to suppliers and contractors.  

As a result for the three months ended 31 March 2017 profit amounted to 894 million rubles. 

EBITDA (earnings before tax, depreciation, interest paid and received) amounted to 2,521  million rubles. 

For more details about financial results of PJSC «IDGC of North-West» you can find the official report, published at the address -http://www.mrsksevzap.ru/en/ifrsfinancialstatements.

 

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