December 5, 2016 Moscow
RELEASE Mosenergo 9M 2016 IFRS Profit Grew x3.2Mosenergo releases unaudited interim consolidated financial statements (prepared in accordance with IFRS) for the 9 months ended September 30, 2016.
Consolidated Statement of Comprehensive Income Key Figures, (mn RUR) | 9M 2015 | 9M 2016 |
Revenue | 114,314 | 127,670 |
Variable Costs | (76,006) | (85,335) |
Fixed Costs (1) | (18,308) | (19,061) |
EBITDA (2) | 18,691 | 20,068 |
EBITDA, adj. (3) | 20,425 | 24,912 |
Depreciation of Property, Plant and Equipment | (14,915) | (11,158) |
Operating Profit | 3,776 | 8,910 |
Profit for the period | 2,264 | 7,329 |
(1) Excluding depreciation of PP&E
(2) EBITDA = operating profit + depreciation of PP&E
(3) Adjusted to impairment of PP&E, impairment of receivables and to reserves
mn.
In 9M 2016 Company revenue grew by 11.7% year-on-year up to RUR 127,670
The bulk of the total revenue (60.6%) was contributed by the revenue from
electricity and capacity sales, which grew by 16.9% up to RUR 77,369 mn, on the back of growing electricity production (+6.2%), increased prices at deregulated market (+7.6%), new units commissioning at CHP-12 and CHP-20 and increased new CSA- capacity price.
Revenue from heat sales (38% of the total revenue) increased by 13.2% year- on-year, totaling RUR 48,531 mn, mainly on the back of higher heat output (+12.8% in the reporting period). Other revenue totaled RUR 1,770mn.
Variable costs in 9M 2016 grew by 12.3% year-on-year, totaling RUR 85,335 mn. Fixed costs in the reporting period grew marginally by 4.1%, up to RUR 19,061
mn.
EBITDA for 9M 2016 increased by 7.4% year-on-year, up to RUR 20,068 mn.
EBITDA, adjusted to impairment of PP&E, impairment of receivables and to reserves amounted to RUR 24,912 mn (+22%)
Mosenergo IFRS profit for the 9M 2016 increased to RUR 7,329 mn growing thus
x3.2
MOSENERGO PR DEPARTMENT
Tel.: | (495) 957-1-957, ext. 2282, 2290 |
Fax: Е-mail: Website: | (495) 957-37-99 press-centre@mosenergo.ru http://www.mosenergo.ru |
OAO Mosenergo published this content on 05 December 2016 and is solely responsible for the information contained herein.
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