According
to the prepared in accordance with the Russian Accounting Standards
statements for 6 months of 2023, revenue of Rosseti Centre and Volga
region, PJSC (the ticker – MRKP) was 63 170,2 mln RUB, including
from electric energy transmission – 60 733,8 mln RUB, from grid
connections – 1 424,0 mln RUB and other revenue – 1 012,4 mln
RUB. Sales profit1 was 12 410,2 mln RUB. Earnings before
interest, taxes, depreciation and amortization (EBITDA2)
reached 18 717,9 mln RUB. Net profit increased by 21,0% up to 8 870,6
mln RUB.
Data
in million RUB, unless specified otherwise
Indicators
|
6M
2023
|
6M
2022
|
Change
|
Revenue
(total), including:
|
63
170,2
|
54
803,3
|
15,3%
|
Revenue
from electric energy transmission
|
60
733,8
|
52
961,0
|
14,7%
|
Revenue
from grid connection
|
1
424,0
|
1
118,6
|
27,3%
|
Other
revenue
|
1
012,4
|
723,7
|
39,9%
|
Cost
of sales
|
50
407,7
|
44
094,3
|
14,3%
|
Sales
profit1
|
12
410,2
|
10
275,1
|
20,8%
|
Sales
profit margin, %
|
19,6%
|
18,7%
|
0,9
p.p.
|
EBITDA2
|
18
717,9
|
16
542,2
|
13,2%
|
EBITDA
margin, %
|
29,6%
|
30,2%
|
-0,6
p.p.
|
Net
profit
|
8
870,6
|
7
331,2
|
21,0%
|
Net
profit margin, %
|
14,0%
|
13,4%
|
0,6
p.p.
|
Amount
of electric energy transmitted, million kWh
|
24
227,3
|
24
228,5
|
0,0%
|
Electric
energy losses, %
|
7,02%
|
7,33%
|
-0,31
p.p.
|
Indicators
|
As
of 30.06.2023
|
As
of 31.12.2022
|
Change
|
Total
assets
|
169
224,8
|
166
634,3
|
1,6%
|
Net
assets
|
95
428,6
|
86
832,6
|
9,9%
|
Borrowed
funds
|
25
413,4
|
26
999,8
|
-5,9%
|
Cash
and cash equivalents + Financial investments (short-term)
|
9
711,7
|
7
924,8
|
22,5%
|
Net
debt4
|
15
701,7
|
19
075,0
|
-17,7%
|
[1] Revenue
net of cost of sales, selling and administrative expenses
[2] EBITDA
is calculated as follows: Profit before tax + Interest payable +
Depreciation
[3] Without
generator voltage
[4] 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 services3 remained
practically unchanged compared to the same period last year and
amounted to 24 227,3 million kWh. Thanks to the implementation of a
set of organizational and technological measures, the Company
achieved a reduction in the level of electricity losses from 7,33% to
7,02% (by 0,31 p.p.).
Due
to the indexation of the boiler tariff from 1 July and 1 December
2022, the revenue for electricity transmission services for 6 months
of 2023 increased by 14,7% compared to 6 months of 2022. The increase
in the revenue from grid connection by 27,3%
is due to a change in the pricing of preferential categories of
applicants from 1 July 2022. As a result of the work carried out to
increase the volume of unregulated services and services for
maintenance of networks and repair of outdoor lighting networks,
performance of work within the competence of the applicant, in
implementation of grid connection, provided to individuals and legal
entities, other revenue increased by 39,9%.
According
to the results of 6 months of 2023, the cost of sales increased by
14,3% compared to the same period last year and amounted to 50 407,7
mln RUB, which was due to an increase in tariffs for electricity
transmission services through grids of the Unified National Power
Grid and in networks of third-party territorial grid organizations,
an increase in the cost of purchased electricity to compensate for
losses, growth in depreciation and indexation of employees’
salaries.
The
EBITDA2 indicator increased by 13,2% and amounted to 18
717,9 mln RUB, the EBITDA margin did not undergo significant changes
compared to the same period last year and amounted to 29,6%. The net
profit margin increased to 14,0%, and the net profit itself rose to
8 870,6 mln RUB.
The
Company’s total assets as of 30 June 2023 amounted to 169 224,8
mln RUB (an increase by 1,6% compared to 31 December 2022). The
Company’s net assets grew up by 9,9% and reached 95 428,6 mln RUB.
The net debt4 decreased by 17,7% due to an increase in
cash on the Company’s account, as well as the repayment of part of
the debt on loans and borrowings and amounted to 15 701,7 mln RUB.
The
Company’s statements for 6 months of 2023 can be found at:
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