9М2019 RAS results

30 October 2019

9M2019 revenues totaled RUB 72,794.1 million (+RUB 11,369,6 million or 18.5%YoY), the increase being driven by the Company’s operations as the provider of the last resort in the Sverdlovsk and Chelyabinsk regions between 01.04.2018 and 01.10.2019 (former service area of AO Roskommunenergo), between 01.07.2018 and 01.07.2019 (former service area of PAO Chelyabenergosbyt) and between 01.08.2018 and 01.10.2019 (former service area of NUESK), respectively.

9M2019 expenses (plus commercial and administrative costs) amounted to RUB 67,063.2 million (+RUB 12,566.7 million or 23.1% YoY), the rise being mainly affected by PoLR-related costs as well as increased payments to grid operators.

Pre-tax profit totaled RUB 2,751.4 million (+RUB 1,334.9 million YoY).

9M2019 net profit of the Company reached RUB 2,130.9 million. A RUB 1,050.3 million YoY increase was impacted by the bad debt reserves created in 9M2018 to cover the debt of AO Roskommunenergo, PAO Chelyabenergosbyt and OOO NUESK, as they were deprived of their PoLR status by the Ministry of Energy’s decrees.

Table 1. 9M2018 and 2019 highlights of the Company, RUB thousand.

Item

9M2019

9M2018

Total revenues

72,794,093

61,424,502

Total expenses (plus commercial and administrative costs)

67,063,248

54,496,585

Sales profit

5,730,845

6,927,917

Operating margin

7.9%

11.3%

Pre-tax profit

2,751,412

1,416,488

Net income

2,130,884

1,080,554

Net margin

2.9%

1.8

To view 9M2019 accounting statements prepared under Russian Accounting Standards (RAS), please, visit our corporate web-site (Financial Statements section).

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