9M2019 IFRS results

26 November 2019

9M2019 revenues stands at RUB 81,490.1 million (+ RUB 12,407.8 million or 18.0% 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 operating expenses totaled RUB 76,260.5 million (+RUB 14,395.5 million or 23.3% YoY), the rise being mainly affected by PoLR-related costs as well as increased payments to grid operators due to alterations of the Chelyabinsk tariff “pie” scheme, resulting in Chelyabenergo’s acting as the sole “pie” holder of the region.

9M2019 result from operating activities reached RUB 3,528.6 million (9M2018: RUB 1,584.8 million). 9M2019 profit before income tax amounted to RUB 2,978.3 million (9M2018: RUB 1,075.3 million).

Profit for the period totaled RUB 2,225.9 million (9M2018: RUB 698.0 million). Total comprehensive income for the period is RUB 2,678.8 million (9M2018: RUB 1,378.5 million).

Table 1. 9M2018-2019 Financial Highlights of OAO IDGC of Urals, RUB thous.

 

9M2019

9M2018

Revenue, incl.

81,490,147

69,082,322

Electricity transmission

43,980,343

49,508,223

Electricity sales

36,559,560

18,577,091

Connection services

645,319

665,696

Operating expenses

(76,260,456)

(61,864,980)

Result from operating activities

3,528,611

1,584,757

Profit/(Loss) before income tax

2,978,347

1,075,313

Profit/(Loss) for the period

2,225,942

697,972

Total comprehensive income for the period

2,678,774

1,378,512

 Please, visit “Financial Information” section of the official web-site to review our 9M2019 IFRS financial statements.

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