9M2018 IFRS results

22 November 2018

Revenue of the Company in 9M2018 stands at RUB 69,082.3 mn (+17.8% YoY), the increase being impacted by grown revenues from electricity transmission, revenues from sales, as the company became the provider of the last resort in the Sverdlovsk and Chelyabinsk regions on 01.04.2018 and 01.07.2018, respectively, and changes in contractual relations with RGOs in the Chelyabinsk region.
9M2018 operating expenses reached RUB 68,434.6 mn (+24.6% YoY), the rise being affected by increased payments to FSK and other grid operators as well as PoLR-related costs.
Result from operating activities for the period totaled RUB 1,636.6 mn. Profit before income tax stands at RUB 1,127.1 mn. Profit for the period reached RUB 738.6 mn and total comprehensive income for the period totaled RUB 1,419.1 mn.
A YoY decrease was due to the provision for doubtful accounts receivable created to cover the debt of AO Roskommunenergo, PAO Chelyabenergosbyt and OOO NUESK, as they ceased to be providers of the last resort in line with Ministry of Energy enactments.

Table 1. 9M2017-2018 Financial Highlights of OAO IDGC of Urals, RUB thous.

 

9M2018

9M2017

Revenue, incl.

69,082,322

58,658,746

Electricity transmission

49,508,223

45,717,953

Electricity sales

18,577,091

11,956,854

Connection services

665,696

688,094

Operating expenses

(68,434,618)

(54,898,419)

Result from operating activities

1,636,555

5,132,045

Profit/(Loss) before income tax

1,127,111

4,457,060

Profit/(Loss) for the year

738,560

3,553,064

Total comprehensive income for the year

1,419,099

3,887,621

Please, visit “Financial Information” section of the official web-site to review our 9M2018 IFRS financial statements.

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