Key
Results in the Reporting Period
RUB
mln unless otherwise stated
Indicator
|
9
months 2020
|
9
months 2019
|
Change
|
Financial
performance
|
|
|
Revenue
|
58,862
|
58,832
|
0.1%
|
Operating
costs
|
(42,467)
|
(43,180)
|
(1.7%)
|
Operating
profit
|
13,791
|
15,568
|
(11.4%)
|
Net
profit
|
10,382
|
11,369
|
(8.7%)
|
EBITDA
|
27,274
|
25,250
|
8.0%
|
EBITDA
margin, %
|
46.3%
|
42.9%
|
3.4
pp
|
Operating
results
|
|
|
Installed
capacity, MVA
|
34,293
|
32,656
|
5.0%
|
Connected
capacity, MW
|
510
|
517
|
(1.5%)
|
Net
supply, mln kWh
|
21,672
|
22,537
|
(3.8%)
|
Network
losses, %
|
2,498
|
2,597
|
(3.8%)
|
Notes:
EBITDA = Earnings before Interest, Tax, Depreciation and
Amortization, plus interest payable under leases, plus loss on
revaluation of fixed assets.
Connected capacity is indicated in
terms of the ongoing technological connection (without generation).
Rosseti
Lenenergo, PJSC retains stable position in the market, demonstrating
positive dynamics of key indicators in relation to 2019. Despite the
challenging epidemiological situation associated with the spread of
the COVID-19 coronavirus infection, the company provides funding for
all necessary works to prepare the infrastructure for the
autumn-winter period in order to ensure the reliability and quality
of the electricity distribution and technological connection services
provided to applicants”
-
Aleksey Aleksandrovich Polinov,
Deputy General Director for
Economics and Finance of Rosseti Lenenergo
Notes
to the Financial Results
Rosseti
Lenenergo, PJSC posted revenue of RUB 58,862 mln, including:
RUB
54,858 mln of electricity distribution revenue, which is 0.2% (RUB 89
mln) higher year on year due to the tariff growth.
RUB
3,711 mln of grid connection revenue, which is 5.9% (RUB 207 mln)
higher year on year due to the performance of technological
connection of a number of major applicants.
RUB
42,467 mln of operating costs, which is 1.7% (RUB 713 mln) lower than
the indicator for the 9M2019 primarily due to a decrease in the cost
of creating a reserve for the impairment of advances issued – in
the same period of 2019, a reserve was created for the impairment of
advances issued for one of the major counterparties.
Net
profit in the reporting period amounted to RUB 987 mln or 8.7% down
year on year largely due to the recognition of a loss from fixed
assets revaluation.
EBITDA
for the reporting period amounted to RUB 27,274 mln, which is 8.0% up
year on year mainly due to the absence for the first 9 months of 2020
of expenses for creating a reserve for impairment of advances issued
in the same period of 2019.
Principal
Balance Sheet Items
RUB
mln unless otherwise stated
Indicator
|
September
30, 2020
|
December
31, 2019
|
Change
|
Assets
|
|
|
Non-current
assets
|
201,008
|
199,196
|
0.9%
|
Current
assets
|
14,006
|
15,265
|
(8.3%)
|
Total
assets
|
215,014
|
214,461
|
0.3%
|
Net
assets
|
144,872
|
138,375
|
4.7%
|
ROE
|
7.6%
|
8.6%
|
(1.0
pp)
|
Equity
and liabilities
|
|
|
Equity
and reserves
|
144,872
|
138,375
|
4.7%
|
Non-current
liabilities
|
33,711
|
30,382
|
11.0%
|
Current
liabilities
|
36,431
|
45,704
|
(20.3%)
|
Total
liabilities
|
70,142
|
76,086
|
(7.8%)
|
Net
debt
|
20,936
|
22,375
|
(6.4%)
|
Net
debt/EBIDTA
|
0.58
|
0.66
|
(0.08
pp)
|
Notes:
Net
debt is calculated as long-term and short-term loans and borrowings
with interest payable, less cash and cash equivalents and less
short-term financial investments.
ROE
is calculated as: (Net Profit for 12 months / Equity) * 100
As
of September 30, 2020, the assets amounted to RUB 215,014 mln, which
is 0.3% higher than the same indicator as at the end of 2019. The
change in assets is primarily due to the implementation of the
Group’s investment program. The increase in net assets for the
9M2020 amounted to RUB 6,497 mln (4.7%).
As
of September 30, 2020, ROE amounted to 7.6%. The decrease by 1.0 pp
vs. the 2019 indicator was due to a decrease in the net profit for
9M2020 by 8.7%, taking into account the increase in equity by 4.7%
As
of September 30, 2020, net debt amounted to RUB 20,936 mln, which is
6.4% lower than the indicator as at the year beginning.
As
of September 30, 2020, Net debt/EBITDA amounted to 0.58x against
0.66x as at the end of 2019.
|
