9M2018 revenues totaled RUB 61,424.5 million (+RUB 9,894.6 million or 19.2%YoY), the increase being impacted by grown revenues from electricity transmission, revenues from sales, as the company became the provider of the last resort in the Sverdlovsk and Chelyabinsk regions on 01.04.2018 and 01.07.2018, respectively, and changes in contractual relations with RGOs in the Chelyabinsk region.
9M 2018 expenses (plus commercial and administrative costs) amounted to RUB 54,496.6 million (+ RUB 8,143.9 million or 17.6% YoY), the rise being affected by increased payments to FSK and other grid operators as well as PoLR-related costs.
9M 2018 net profit of the Company reached RUB 1,080.6 million. A RUB 2,759.6 million 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 in line with Ministry of Energy enactments.
Table 1. 9M2017 and 2018 highlights of the Company, RUB thousand.
Item
9M2018
9M2017
Total revenues
61,424,502
51,529,919
Total expenses (plus commercial and administrative costs)
54,496,585
46,352,650
Sales profit
6,927,917
5,177,269
Operating margin
11.3%
10.0%
Pre-tax profit
1,416,488
4,880,888
Net income
1,080,554
3,840,198
Net margin
1.8%
7.5%
To view 9M2018 accounting statements prepared under Russian Accounting Standards (RAS), please, visit our corporate web-site (Financial Statements section).
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1H2018 IFRS results
1H2018 RAS results
1Q2018 IFRS results
1Q2018 RAS results
Resolutions of the Apr.12, 2018 and Apr.13, 2018 Board of Directors meetings
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IDGC of Urals OJSC published this content on 30 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 October 2018 09:21:05 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.