1Q2019 RAS results

30 April 2019

1Q2019 revenues totaled RUB 29,180.2 million (+RUB 9,211.2 million or 46.1%YoY), the increase being driven by the Company’s operations as the provider of the last resort in the Sverdlovsk and Chelyabinsk regions from 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.

1Q2019 expenses (plus commercial and administrative costs) amounted to RUB 26,737.3 million (+RUB 9,012.6 million or 50.8% YoY), the rise being mainly affected by PoLR-related costs as well as increased payments to grid operators.

Pre-tax profit totaled RUB 1,526.6 million (-RUB 319.6 million YoY).

1Q2019 net profit of the Company reached RUB 1,112.7 million. An insignificant YoY decrease was impacted by the reduction of other non-core revenues.

Table 1. 1Q2018 and 2019 highlights of the Company, RUB thousand.

Item

1Q2019

1Q2018

Total revenues

29,180,197

19,969,006

Total expenses (plus commercial and administrative costs)

26,737,257

17,724,684

Sales profit

2,442,940

2,244,322

Operating margin

8.4%

11.2%

Pre-tax profit

1,526,572

1,846,202

Net income

1,112,686

1,472,641

Net margin

3.8%

7.4%

To view 1Q2019 accounting statements prepared under Russian Accounting Standards (RAS), please, visit our corporate web-site (Financial Statements section).

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