EQS-Adhoc: PJSC Mosenergo Releases IFRS Financial Results for 1H 2019
RELEASE August 12, 2019 Moscow
Mosenergo Releases IFRS Financial Results for 1H 2019
Mosenergo releases interim abbreviated unaudited consolidated financial statements (prepared in accordance with IFRS) for the 6 months ended June 30, 2019.
Consolidated Statement of Comprehensive Income Key Figures, (mn RUR) 6M 2018 6M 2019 Revenue 107,668 103,855 Operating Costs (88,491) (89,686) Marginal profit(1) 15,151 17,247 Operating Profit 18,552 14,039 EBITDA, adj. (2) 26,797 22,094 Profit for the Period 15,232 12,730
(1) Calculated as "Revenue from electricity sales + Revenue from heat sales - Variable costs"
(2) Adjusted to net charge for impairment and other provisions
Mosenergo revenue for 6M 2019 decreased by 3.5% year-on-year down to RUR 103,855 mn. The reason for the decline was revenue from capacity sales decrease (-32.6%), on the back of capacity supply agreements expiry for three CSA units, as well as decreased revenue from heat sales (-5.8%) on the account of lower output for warmer weather in the report period. Operating costs for 1H 2019 amounted to RUR 89,686 mn, thus growing marginally by 1.4%, mainly on the account of fuel costs increase by 2.1%. EBITDA, adjusted to net charge for impairment and other provisions, for the report period decreased by 17.6%, down to RUR 22,094 mn). Mosenergo marginal profit in 1H 2019 amounted to RUR 17,247 mn, up by 13.8%, resulting from increased electricity output (+6.8%) and weighted average electricity price growth by 10.1%. Mosenergo IFRS profit for 1H 2019 decreased by 16.4%, down to RUR 12,730 mn.
MOSENERGO PR DEPARTMENT
12-Aug-2019 CET/CEST The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: PJSC Mosenergo Vernadskogo prospect, 101 bld. 3 119526 Moscow
Russia Phone: +7 495 957 1 957 Fax: +7 495 957 32 00 E-mail: email@example.com Internet: www.mosenergo.ru ISIN: US0373763087, RU0008958863 WKN: 899416 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart; London, Moscow EQS News ID: 855941 End of Announcement EquityStory.RS, LLC News Service
855941 12-Aug-2019 CET/CEST