Based on the results of the publication of Interim Condensed Consolidated Financial Statements (unaudited) for 6 months of 2024 under IFRS, Rosseti Centre, PJSC (ticker – MRKC) – managing organization of Rosseti Centre and Volga region, PJSC (ticker – MRKP) prepared and published on its corporate website a presentation with the operating results of the Companies for the corresponding period and guidance for 2024.

Compared to the same period last year, the reliability of electricity supply to consumers has improved significantly in the first 6 months of 2024. Due to changes in the power consumption modes of large consumers, as well as due to fluctuations in air temperature, there was an increase in the volume of electricity transmission services. Thanks to the work carried out to reduce electricity losses, their level decreased by 0.12 percentage points in Rosseti Centre and 0.02 percentage points in Rosseti Centre and Volga region.

Revenue from electricity transmission services for the first 6 months of 2024 grew up mainly due to increased electricity consumption in the regions of presence, as well as due to the addition of new subsidiaries to the Group of Companies. Revenue from grid connection services increased compared to the same period in 2023 due to an increase in revenue in the category up to 150 kW, as well as the execution of large grid connection contracts in the Belgorod, Voronezh, Vladimir, Nizhny Novgorod and Ryazan regions. Other revenue of the companies demonstrated mixed changes in the Companies due to the corresponding trends of new applications for value-added services.

The growth in operating expenses is due to an increase in the costs of services of territorial grid organizations (TGO) because of an increase in the volume of TGO services, as well as growth in the costs of electricity transmission services through federal grids due to an increase in rates for maintenance of electric grid facilities in grids of the Unified National All-Russian Power Grid (UNPG).

Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 2.7% in Rosseti Centre and increased by 17.5% in Rosseti Centre and Volga region. Profit for the period of Rosseti Centre and Rosseti Centre and Volga region amounted to RUB 4,020.5 million and RUB 10,835.1 million, respectively.

As at 30 June 2024, the assets of the Companies increased, and the Net debt indicator decreased compared to 31 December 2023.

The presentation of Rosseti Centre, PJSC – managing organization of Rosseti Centre and Volga region, PJSC can be found on the link.