МЕНЮFY2018 IFRS results
20 March 2019Revenue of the Company in FY2018 stands at RUB 100,302.7 mn (+23.6% YoY), the increase being impacted by grown revenues from electricity sales, as the company became the provider of the last resort in the Sverdlovsk and Chelyabinsk regions on 01.04.2018 (former service area of AO Roskommunenergo), 01.07.2018 (former service area of PAO Chelyabenergosbyt) and 01.08.2018 (former service area of NUESK), respectively.
FY2018 operating expenses reached RUB 99,799.3 mn (+30.1% YoY), the rise being mainly affected by PoLR-related costs as well as increased payments to FSK and other grid operators.
Result from operating activities for the period totaled RUB 1,925.4 mn. Profit before income tax stands at RUB 1,149.1 mn. Profit for the period reached RUB 640.8 mn and total comprehensive income for the period totaled RUB 1,376.3 mn.
A YoY decrease was due to the bad debt reserve created to cover the debt of AO Roskommunenergo, PAO Chelyabenergosbyt and OOO NUESK, as they ceased to be providers of the last resort. On 01.07.2018 OOO AES Invest, the 2nd “pie” holder of the Chelyabinsk region, ceased its RGO operations, thus, our Chelyabenergo branch became the sole “pie” holder in the region. A special provision for unpaid receivables of OOO AES Invest was made.
Table 1. FY2017-2018 Financial Highlights of OAO IDGC of Urals, RUB thous.
|
FY2018 |
FY2017 |
|
|
Revenue, incl. |
100,302,694 |
81,159,300 |
|
Electricity transmission |
60,503,132 |
62,968,512 |
|
Electricity sales |
38,137,954 |
16,581,474 |
|
Connection services |
1,144,080 |
1,207,100 |
|
Operating expenses |
(99,799,317) |
(76,738,986) |
|
Result from operating activities |
1,925,433 |
5,974,555 |
|
Profit/(Loss) before income tax |
1,149,116 |
5,171,955 |
|
Profit/(Loss) for the year |
640,826 |
4,065,565 |
|
Total comprehensive income for the year |
1,376,268 |
4,585,604 |
Please, visit “Financial Information” section of the official web-site to review our FY2018 IFRS financial statements.
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