A meeting of the Company’s Board of Directors was held, which
approved the Company’s Business Plan for 2023 and took note of the
forecast indicators for 2024-2027. The Business Plan provides for an
increase of the production potential and key financial indicators by
the end of 2023.
Indicators of the Company’s Business Plan for
2023:
Data in mln RUB, unless specified otherwise
Indicators
|
Planned for
2023
|
Expected fact for 2022
|
Change
|
Revenue (total), including:
|
119 102
|
108 469
|
9,8%
|
Revenue from electric energy transmission
|
111 181
|
101 152
|
9,9%
|
Revenue from grid connection
|
3 038
|
2 308
|
31,6%
|
Revenue from sale of electric energy
|
336
|
348
|
-3,4%
|
Revenue from other activity
|
4 548
|
4 661
|
-2,4%
|
Cost of sales
|
103 675
|
94 647
|
9,5%
|
Sales profit1
|
12 739
|
11 336
|
12,4%
|
Sales profit margin, %
|
10,7%
|
10,5%
|
0,2 p.p.
|
EBITDA2
|
24 353
|
21 422
|
13,7%
|
EBITDA margin, %
|
20,4%
|
19,7%
|
0,7 p.p.
|
Net profit
|
5 830
|
3 846
|
51,6%
|
Net profit margin, %
|
4,9%
|
3,5%
|
1,4 p.p.
|
Amount of electric energy transmitted, million kWh
|
46 621
|
47 223
|
-1,3%
|
Electric energy losses, %
|
10,47%
|
10,61%
|
-0,14 p.p.
|
Indicators
|
As of 31.12.2023
|
As of 31.12.2022
|
Change
|
Total assets
|
135 428
|
136 154
|
-0,5%
|
Net assets
|
60 309
|
54 479
|
10,7%
|
Loans and credits
|
40 494
|
41 103
|
-1,5%
|
Cash and cash equivalents + Financial investments (short-term)
|
1 542
|
4 726
|
-67,4%
|
Net debt3
|
38 951
|
36 377
|
7,1%
|
[1] Revenue net of cost
of sales, selling and administrative expenses
[2] EBITDA is calculated
as follows: net profit + profit tax and other similar mandatory
payments + interest payable – interest receivable + depreciation
charges
[3] Net debt is
calculated as follows: long-term debt + short-term debt – cash and
cash equivalents – short-term financial investments
The volume of electricity transmission services,
according to the Business Plan for 2023, will decrease relative to
the expected fact in 2022 by 1,3% and will amount to 46 621 million
kW. The decrease in the volume of services is due to both a reduction
in applications from large consumers and temperature deviations in
2022 from the average climatic values (an abnormally cold winter
period), the forecast for 2023 took into account the average
statistical data of weather conditions. The level of electricity
losses in 2023 will decrease by 0,14 p.p. compared to the expected
level in 2022 and is 10,47%. The change in the level of losses is due
to both a change in the composition of the Company’s power grid
assets and the result of organizational and technological measures to
reduce the level of electricity losses.
The 9,9% increase in revenue from electricity
transmission services planned in the Business Plan for 2023 compared
to the expected fact in 2022 is due to the dynamics of the volume of
services provided and changes in the unified “boiler” tariffs
from 1 December 2022. Revenue from grid connection services in 2023
is expected to be 3 038 million RUB, which is 31,6% higher than the
forecast level for 2022. The increase in revenue is due to the
completion of the execution of major grid connection contracts in
2023, as well as a change in tariff rates for preferential groups of
applicants from 01.07.2022. Also in 2023, the Company will continue
to work on the development of the segment for the provision of
non-regulated services and predicts receipt of revenue from other
activities in the amount of at least 4 548 million RUB. The Company
aims to increase the share of revenue from the provision of
non-regulated services to 5% of total revenue in the next 3 years.
The increase in the cost of sales in 2023 is due
to inflationary factors, an increase in the cost of buying
electricity losses and paying for services of grid companies.
Earnings before interest, taxes, depreciation and
amortization (EBITDA) is projected above the expected fact in 2022 by
13,7% and will amount to 24 353 million RUB. Net profit for 2023 is
projected in the amount of 5 830 million RUB, which is above the
expected indicator in 2022 by 51,6%.
Other IR-news of the Company can be found
at: https://www.mrsk-1.ru/ru/investors/presentations/ir_news/.
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