According to the prepared in accordance with the Russian Accounting Standards statements for 12 months of 2024, revenue of Rosseti Centre, PJSC (the ticker – MRKC) was 132 294,2 mln RUB, including from electric energy transmission – 121 446,5 mln RUB, from grid connections – 5 692,7 mln RUB and other revenue – 5 155,0 mln RUB. Sales profit was 17 618,7 mln RUB. Earnings before interest, taxes, depreciation and amortization (EBITDA²) reached 31 278,6 mln RUB, EBITDA margin increased and amounted to 23,6%. Net profit increased by 27,6% up to 7 799,8 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 increased in comparison with 2023 by 2,4% and amounted to 48 434,1 million kWh. The increase in consumption is due to weather factors, an additional leap day, as well as an increase in electricity consumption by large industrial enterprises and the population. The largest increase in electricity consumption was observed in the Voronezh and Yaroslavl regions. At the same time, the level of electricity losses decreased by 0,30 p.p. and amounted to 9,99%.

The revenue from electricity transmission services for 12 months of 2024 increased by 7,3% compared to 2023 due to the indexation of tariff rates for electricity transmission services from 1 July 2024, as well as an increase in production indicators. The revenue from grid connection services in the reporting year increased by 25,2% due to the execution of contracts for the connection of large enterprises in the Voronezh and Tambov regions.

The other revenue decreased by 9,9% compared to 2023. The changes in the other revenue are due to the implementation of a larger number of projects for the improvement and creation of a comfortable urban environment in 2023.

The cost of sales for 12 months of 2024 compared to 2023 increased by 6,4% and amounted to 112 464,2 mln RUB. The increase in expenses is due to growth in the cost of electricity transmission services through the grids of third-party owners, inflationary pressure and indexation of wages of production personnel. At the same time, the rate of change in the cost of sales did not exceed the rate of revenue growth, which had a positive effect on the financial result of operations.

The EBITDA² indicator increased by 25,6% and amounted to 31 278,6 mln RUB.

The net profit for 2024 amounted to 7 799,8 mln RUB, and the net profit margin increased to 5,9%.

The Company’s total assets as of 31 December 2024 increased by 6,4% and amounted to 158 218,5 mln RUB. The Company’s net assets grew by 6,9% and amounted to 65 038,5 mln RUB. The net debt decreased to 30 521,5 mln RUB (as of 31 December 2023 – 31 252,7 mln RUB).

The Company’s statements for 12 months of 2024 can be found at: https://www.mrsk-1.ru/en/information/statements/rsbu/2024/.