Moscow, 30 October 2020 – PJSC ROSSETI (“ROSSETI” or “the Company”, Moscow Exchange, LSE: RSTI), managing subsidiaries and affiliates in the field of electricity transmission and distribution, announces its financial results for 9M 2020 under the Russian Accounting Standards (RAS).

The Company’s RAS statements are prepared on a standalone basis and do not include the results of ROSSETI’s subsidiaries or affiliated companies that operate as independent legal entities.

Key financial results

The Company’s revenue amounted to 14.9 billion. The loss during the quarter almost halved - from 22.2 billion to 13.2 billion.

Adjusted net profit, excluding revaluation of financial investments, amounted to 12.8 billion. The difference in the values of adjusted profit for 9M 2020 and 9M 2019 is due to the payment of interim dividends of subsidiaries and affiliated companies for 9M 2019 and its disclosure in the financial results of 4Q 2019 [2].

Taking into account the above-mentioned factors, ROSSETI delivered stable financial results comparable to the results of the previous periods.

 “Given the volatility in the global markets and the pressure on the major stock indexes, the shares of companies under ROSSETI management showed the best dynamics relative to the market. This is the most objective assessment of the timeliness and effectiveness of anti-crisis measures to preserve the financial stability of subsidiaries and affiliates during the spread of COVID-19,"said Pavel Grebtsov, Deputy Director General for Economic Affairs and Finance of ROSSETI.

[1] Excluding revaluation of financial investments in shares of subsidiaries and affiliates listed on the balance sheet of PJSC ROSSETI. The revaluation is non-monetary and was performed in accordance with Russian accounting legislation.

[2] Earlier the dividend payments of subsidiaries and affiliated companies were made at the end of the year and were disclosed in the financial statements for 9M2019. Dividends for 9M 2019 amounted to 12.5 billion.