1H2018 revenues totaled RUB 37,856.0 million (+RUB 2,996.9 million or 8.6%YoY), the increase being impacted by grown revenues from electricity transmission as well as revenues from sales, as the company became a provider of the last resort in the Sverdlovsk region on 01.04.2018.
1H2018 expenses (plus commercial and administrative costs) amounted to RUB 33,444.8 million (+ RUB 1,878.2 million or 6.0% YoY), the rise being affected by increased payments to FSK and other grid operators as well as costs related to the purchase of electricity for sale.
1H2018 loss of the Company reached RUB 348.0 million. A RUB 3,360.5 million YoY decrease was due to the bad debt reserve created to cover the debt of AO Roskommunenergo and PAO Chelyabenergosbyt, as they ceased to be providers of the last resort in line with Ministry of Energy Decrees No.180 dd. 23.03.2018 and 37/10 dd.29.06.2018.
Table 1. 1H2017 and 2018 highlights of the Company, RUB thousand.
Item
1H2018
1H2017
Total revenues
37,855,982
34,859,125
Total expenses (plus commercial and administrative costs)
33,444,819
31,566,660
Sales profit
4,411,163
3,292,465
Operating margin
11.7%
9.4%
Pre-tax profit (loss)
-460,616
3,831,426
Net income (loss)
-347,983
3,012,486
Net margin
-0.9%
8.6%
To view 1H2018 accounting statements prepared under Russian Accounting Standards (RAS), please, visit our corporate web-site (Financial Statements section).
1Q2018 IFRS results
1Q2018 RAS results
Resolutions of the Apr.12, 2018 and Apr.13, 2018 Board of Directors meetings
FY2017 IFRS results
FY2017 RAS results
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IDGC of Urals OJSC published this content on 27 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 July 2018 11:26:05 UTC
Mezhregional'naya Raspredelitel'naya Setevaya Kompaniya Urala OAO (MRSK Urala OAO), formerly MRSK Urala i Volgi, is a Russia-based company, which is involved in the transmission and distribution of electric energy and provision of related services to its consumers. The Company is active on the territory of the Kurgan, Perm, Sverdlovsk and Chelyabinsk regions. It operates through three branches: Permenergo OAO, Sverdlovenergo OAO and Chelyabenergo OAO. In addition, the Company has several subsidiaries and two affiliated companies.