According
to the prepared in accordance with the Russian Accounting Standards
statements for 6 months of 2022, revenue of Rosseti Centre and Volga
region, PJSC (the ticker - MRKP) was 54 803,3 mln RUB, including
from electric energy transmission – 52 961,0 mln RUB, from
grid connections – 1 118,6 mln RUB, and other revenue –
723,7 mln RUB. Sales profit1 was 10 275,1 mln
RUB. Earnings before interest, taxes, depreciation and amortization
(EBITDA2) reached 16 296,9 mln RUB, EBITDA margin
increased against the same period last year and was 29,7%. Net profit
increased to 7 331,2 mln RUB.
Data
in million RUB, unless specified otherwise
Indicators
|
6M
2022
|
6M
2021
|
Change
|
Revenue
(total), including:
|
54
803,3
|
52
216,4
|
5,0%
|
Revenue
from electric energy transmission
|
52
961,0
|
50
721,4
|
4,4%
|
Revenue
from grid connection
|
1
118,6
|
944,6
|
18,4%
|
Other
revenue
|
723,7
|
550,4
|
31,5%
|
Cost
of sales
|
44
094,3
|
42
790,4
|
3,0%
|
Sales
profit1
|
10
275,1
|
8
973,7
|
14,5%
|
Sales
profit margin, %
|
18,7%
|
17,2%
|
1,5
p.p.
|
EBITDA2
|
16
296,9
|
14
046,4
|
16,0%
|
EBITDA
margin, %
|
29,7%
|
26,9%
|
2,8
p.p.
|
Net
profit
|
7
331,2
|
6
644,1
|
10,3%
|
Net
profit margin, %
|
13,4%
|
12,7%
|
0,7
p.p.
|
Amount
of electric energy transmitted, million kWh
|
24
228,5
|
24
023,5
|
0,9%
|
Electric
energy losses, %
|
7,33%
|
7,18%
|
0,15
p.p.
|
Indicators
|
As
of 30.06.2022
|
As
of 31.12.2021
|
Change
|
Total
assets
|
150
709,1
|
146
494,8
|
2,9%
|
Net
assets
|
85
383,1
|
81
145,6
|
5,2%
|
Borrowed
funds
|
26
996,7
|
26
928,9
|
0,3%
|
Cash
and cash equivalents + Financial investments (short-term)
|
7
261,1
|
437,9
|
1
558,2%
|
Net
debt3
|
19
735,7
|
26
491,0
|
-25,5%
|
[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
|
The
volume of electricity transmission services, compared to the same
period last year, increased by 0,9% and amounted to 24 228,5
million kWh, which is due to the lifting of quarantine measures, the
climatic factor due to colder temperatures in the 2nd quarter, the
growth in consumption at oil pipeline facilities. The level of
electricity losses slightly increased (by 0,15 p.p.) and amounted to
7,33%. The increase in the indicator is caused by the inclusion in
the calculation of the volume of losses in grids consolidated in
2021.
The
revenue for electricity transmission services following the results
of 6 months of 2022 increased by 4,4%, compared to the same period in
2021, due to growth in the volume of rendered electricity
transmission services and an increase in tariffs from 1 July 2021.
The
increase in the revenue from grid connection by 18,4% due to the
execution in the 1st half of 2022 of a major grid connection contract
in the Marienergo branch.
Other
revenue increased by 31,5% and amounted to 723,7 mln RUB, which is
the result of ongoing work to increase the volume of additional
services provided to electricity consumers.
The
cost of sales following the results 6 months of 2022, compared to the
same period last year, increased by 3,0% and amounted to 44 094,3
mln RUB, which is due to an increase in depreciation and expenses for
purchased electricity to compensate for losses.
The
EBITDA2 indicator increased by 16,0% and amounted to
16 296,9 mln RUB. The net profit increased by 10,3% up to
7 331,2 mln RUB.
The
Company’s total assets as of 30 June 2022 were 150 709,1
mln RUB (as of 31 December 2021 – 146 494,8 mln RUB). The Company’s
net assets increased by 5,2% and reached 85 383,1 mln RUB. The
net debt3
decreased by 25,5% due to an
increase in cash and cash equivalents, short-term financial
investments and amounted to 19 735,7
mln RUB.
The
Company’s statements for 6 months of 2022 can be found at:
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