The
Rosseti Centre and Volga region company published its financial
statements for 2023 under RAS, net profit increased by 24,5%
According
to the prepared in accordance with the Russian Accounting Standards
statements for 12 months of 2023, revenue of Rosseti Centre and Volga
region, PJSC (the ticker – MRKP) was 130 014,9 mln RUB, including
from electric energy transmission – 121 191,1 mln RUB, from grid
connections – 5 429,0 mln RUB and other revenue – 3 394,8 mln
RUB. Sales profit1
was 22 791,6 mln RUB. Earnings before interest, taxes, depreciation
and amortization (EBITDA2)
reached 30 441,7 mln RUB, EBITDA margin increased by 0,7 p.p.
compared to the same period last year and amounted to 25,8%. Net
profit increased by 24,5% up to 13 580,0 mln RUB.
Data
in million RUB, unless specified otherwise
Indicators
|
12M
2023
|
12M2022
|
Change
|
11Revenue
(total), including:
|
130
014,9
|
113
256,2
|
14,8%
|
Revenue
from electric energy transmission
|
121
191,1
|
108
021,9
|
12,2%
|
Revenue
from grid connection
|
5
429,0
|
2
606,4
|
108,3%
|
Other
revenue
|
3
394,8
|
2
627,9
|
29,2%
|
Cost
of sales
|
106
450,0
|
93
310,9
|
14,1%
|
Sales
profit1
|
22
791,6
|
19
010,3
|
19,9%
|
Sales
profit margin, %
|
17,5%
|
16,8%
|
0,7
p.p.
|
EBITDA2
|
33
597,8
|
28
389,7
|
18,3%
|
EBITDA
margin, %
|
25,8%
|
25,1%
|
0,7
p.p.
|
Net
profit
|
13
580,0
|
10
908,3
|
24,5%
|
Net
profit margin, %
|
10,4%
|
9,6%
|
0,8
p.p.
|
Amount
of electric energy transmitted3,
million kWh
|
50
302,2
|
49
857,9
|
0,9%
|
Electric
energy losses, %
|
7,32%
|
7,19%
|
0,13
p.p.
|
Indicators
|
As
of 31.12.2023
|
As
of 31.12.2022
|
Change
|
Total
assets
|
181
391,7
|
166
634,3
|
8,9%
|
Net
assets
|
100 215,4
|
86
832,6
|
15,4%
|
Net
debt4
|
13
651,2
|
19 075,0
|
-28,4%
|
The
volume of electricity transmission services3
increased by 0,9% compared to the same period last year and amounted
to 50 302,2 million kWh, which is due to the climatic factor.
The level of electricity losses increased by 0,13 p.p. and amounted
to 7,32%. The increase in the losses is caused by changes in the
structure of the electricity balance and operating mode of the 110 kV
grid, as well as the integration of power grid assets with high
losses.
Due
to changes in the boiler tariff from 1 July 2022 and 1 December 2022,
the revenue for electricity transmission services for 12 months of
2023 increased by 12,2% compared to 12 months of 2022. The increase
in the revenue from grid connection was 108,3%, which is due to a
change in pricing for preferential categories of applicants from 1
July 2022 and execution of large grid connection contracts in the
Kaluga, Nizhny Novgorod and Tula regions.
The
other revenue increased by 29,2% as a result of work carried out to
increase the volume of additional services provided, including repair
and maintenance and construction of outdoor lighting networks,
development of the service - performance of work within the
competence of the applicant during grid connection.
The
cost of sales for 12 months of 2023 compared to the same period last
year increased by 14,1% and amounted to 106 450,0 mln RUB. The
increase in the costs is due to inflationary pressure.
The
EBITDA2
indicator was 33 597,8 mln RUB (an increase by 18,3%).
The
net profit margin increased to 10,4%, at the same time, the financial
result at the end of 2023 was 13 580,0 mln RUB.
The
Company’s total assets at the end of 2023 were 181 391,7 mln RUB
(an increase by 8,9% compared to 31 December 2022). The Company’s
net assets grew up by 15,4% and reached 100 215,4 mln RUB. The
net debt4
was 13 651,2 mln RUB (as of 31 December 2022 – 19 075,0
mln RUB).
The
Company’s statements for 12 months of 2023 can be found at:
https://www.mrsk-cp.ru/en/stockholder_investor/disclosure_reporting_info/finansovaya-informatsiya-i-otchetnost/ras-accounting-statements/.
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