The Rosseti Centre company published its financial statements for
9 months of 2021 under RAS, net profit increased by 115%
According to the prepared in accordance with the Russian
Accounting Standards statements for 9 months of 2021,
revenue of Rosseti Centre, PJSC (the ticker — MRKC) was
74 098,2 mln RUB, including from electric energy transmission —
71 170,2 mln RUB, from grid connections — 693,8 mln RUB, from
sale of electric energy and power — 406,6 mln RUB and
other revenue — 1 827,6 mln RUB. Sales profit was 6 619,2 mln
RUB. Earnings before interest, taxes, depreciation and amortization
(EBITDA2) reached 15 328,0 mln RUB, EBITDA margin increased against
the same period last year and was 20,7%. Net profit increased
by 115,3% up to 3 446,6 mln RUB.
Data in million RUB, unless specified
otherwise
Indicators
|
9M 2021
|
9M 2020
|
Change
|
Revenue (total), including:
|
74 098,2
|
68 250,1
|
8,6%
|
Revenue from electric energy transmission
|
71 170,2
|
65 486,5
|
8,7%
|
Revenue from grid connection
|
693,8
|
696,8
|
-0,4%
|
Revenue from sale of electric energy and power
|
406,6
|
377,8
|
7,6%
|
Other revenue
|
1 827,6
|
1 688,9
|
8,2%
|
Cost of sales
|
66 022,0
|
62 433,8
|
5,7%
|
Sales profit1
|
6 619,2
|
4 188,0
|
58,1%
|
Sales profit margin
|
8,9%
|
6,1%
|
2,8 p.p.
|
EBITDA2
|
15 328,0
|
12 791,4
|
19,8%
|
EBITDA margin
|
20,7%
|
18,7%
|
2,0 p.p.
|
Net profit
|
3 446,6
|
1 600,8
|
115,3%
|
Net profit margin
|
4,7%
|
2,3%
|
2,4 p.p.
|
Amount of electric energy transmitted*, million kWh
|
35 032,9
|
33194,0
|
5,5%
|
Electric energy losses, %
|
9,33%
|
9,53%
|
-0,20p.p.
|
Indicators
|
As of 30.09.2021
|
As of 31.12.2020
|
Change
|
Total assets
|
129 855,0
|
130 309,7
|
-0,3%
|
Net assets
|
60 610,6
|
58 593,8
|
3,4%
|
Loans and credits
|
43 433,0
|
45 297,7
|
-4,1%
|
Cash and cash equivalents + Financial investments (short-term)
|
1 256,8
|
1 036,2
|
21,3%
|
Net debt3
|
42 176,1
|
44 261,5
|
-4,7%
|
[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
* 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 services for the transmission
of electricity amounted to 35 032,9 million kWh, compared
to the same period last year, there was an increase
in volumes by 5,5%, which was a consequence
of a significant increase in electricity consumption,
which was caused by both the climatic factor and the growth
of business activity in connection with the softening
of restrictive measures. The level of electricity losses
decreased by (-0,20) p.p. and was 9,33%. The main reason for the
change in the level of losses is the purposeful
implementation of a program of measures to reduce
electricity losses.
Revenue for electricity transmission services
following the results of 9 months of 2021 increased
by 8,7% against the same period of 2020 due to growth
in electricity consumption and an increase in the
tariff for electricity transmission from 1 July 2021. Revenue
from grid connection services following the results of 9 months
of 2021 practically did not change relative to the same
period in 2020 (a decrease by 0,4%). The provision
of services for grid connection took place within the framework
of current applications. Other revenue for 9 months of 2021
against the same period of 2020 increased by 8,2% and was 1
827,6 mln RUB. The growth in the other revenue is due
to implementation of strategic initiatives to increase
non-tariff income.
The Company’s total assets as of 30 September
2021 decreased slightly and amounted to 129 855,0 mln RUB. The
Company’s net assets grew up by 3,4% and amounted to 60
610,6 mln RUB. The net debt3 decreased to 42 176,1 mln RUB
(as of 31 December 2020 — 44 261,5 mln RUB).
The Company’s statements for 9 months of 2021 can
be found at:
https://www.mrsk-1.ru/en/information/statements/rsbu/2021/.
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