According to the prepared in accordance with the Russian Accounting
Standards statements for 12 months of 2023, revenue of Rosseti
Centre, PJSC (the ticker – MRKC) was 123 264,9 mln RUB, including
from electric energy transmission – 112 578,0 mln RUB, from grid
connections – 4 548,3 mln RUB, from sale of electric energy and
power – 416,8 mln RUB and other revenue – 5 721,8 mln RUB. Sales
profit was 15 526,0 mln RUB. Earnings before interest, taxes,
depreciation and amortization (EBITDA2) reached 24 896,4
mln RUB, EBITDA margin practically did not change compared to the
same period last year and amounted to 20,2%. Net profit increased by
34,8% up to 6 114,8 mln RUB.
Data in million RUB, unless specified otherwise
Indicators
|
12M 2023
|
12M 2022
|
Change
|
Revenue (total), including:
|
123 264,9
|
109 702,0
|
12,4%
|
Revenue from electric energy transmission
|
112 578,0
|
101 662,8
|
10,7%
|
Revenue from grid connection
|
4 548,3
|
2 511,3
|
81,1%
|
Revenue from sale of electric energy and power
|
416,8
|
595,6
|
-30,0%
|
Other revenue
|
5 721,8
|
4 932,3
|
16,0%
|
Cost of sales
|
105 693,3
|
94 157,0
|
12,3%
|
Sales profit1
|
15 526,0
|
13 291,3
|
16,8%
|
Sales profit margin, %
|
12,6%
|
12,1%
|
0,5 p.p.
|
EBITDA2
|
24 896,4
|
22 730,9
|
9,5%
|
EBITDA margin, %
|
20,2%
|
20,7%
|
-0,5 p.p.
|
Net profit
|
6 114,8
|
4 537,8
|
34,8%
|
Net profit margin, %
|
5,0%
|
4,1%
|
0,9 p.p.
|
Amount of electric energy transmitted*,
million kWh
|
47 291,6
|
47 619,4
|
-0,7%
|
Electric energy losses, %
|
10,29%
|
10,24%
|
0,05 p.p.
|
Indicators
|
As of 31.12.2023
|
As of 31.12.2022
|
Change
|
Total assets
|
148 632,4
|
140 848,0
|
5,5%
|
Net assets
|
60 863,7
|
55 255,0
|
10,2%
|
Net debt3
|
31 252,7
|
32 320,2
|
-3,3%
|
[1] Revenue net of cost of
sales, selling and administrative expenses
[2] EBITDA is calculated as
follows: Profit before tax + Interest payable + Depreciation
[3] Net debt is calculated as
follows: long-term borrowed funds + short-term borrowed funds –
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 electricity transmission services
decreased slightly compared to the same period in 2022 and amounted
to 47 291,6 million kWh. At the same time, the level of electricity
losses increased by 0,05 p.p. and amounted to 10,29%. The main reason
for the change in production indicators was a decrease in the volume
of electricity transmission to large consumers of the Belgorodenergo,
Bryanskenergo, Lipetskenergo and Orelenergo branches.
The revenue for electricity transmission services
for 12 months of 2023 increased by 10,7% compared to the same period
in 2022 due to the indexation of tariff rates for electricity
transmission services from 1 July 2022 and from 1 December 2022. The
revenue from grid connection services in the reporting period
increased by 81,1% due to the cancellation of the preferential rate
for grid connections and in connection with the execution of
contracts for connecting large industrial enterprises in the Kursk
and Lipetsk regions.
The other revenue for 12 months of 2023 compared
to the same period in 2022 increased by 16,0% and amounted to 5 721,8
mln RUB. The growth of the other revenue is due to the Company’s
efforts to develop the non-tariff segment of its activities, in
particular, projects for maintenance and construction of outdoor
lighting networks, work on comprehensive landscaping of territories
and provision of turnkey services in the branches of the Company’s
presence.
The cost of sales for 12 months of 2023 compared
to the same period last year increased by 12,3% and amounted to 105
693,3 mln RUB. The increase in the costs is due to inflationary
pressure.
The EBITDA2 indicator increased by 9,5%
and amounted to 24 896,4 mln RUB.
The net profit at the end of 2023 amounted to 6
114,8 mln RUB, and the net profit margin increased to 5,0%.
The Company’s total assets as of 31 December
2023 increased and amounted to 148 632,4 mln RUB. The Company’s net
assets grew up by 10,2% and amounted to 60 863,7 mln RUB. The net
debt3 decreased to 31 252,7 mln RUB (as of 31 December 2022 – 32
320,2 mln RUB).
The Company’s statements for 12 months of 2023
can be found at:
https://www.mrsk-1.ru/en/information/statements/rsbu/2023/.
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