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8 800 220-0-220 Contact CenterProfit of JSC "MOESK" has Grown by 3.05 % up to RUR 19.5 bln., According to IFRS for 2013
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03.04.2014
Today JSC "MOESK" declares its financial results according to IFRS for year 2013. According to the consolidated reports the Company proceeds have grown by 3.03 % up to RUR 129.1 bln., EBITDA has increased by 2.12 % up to RUR 44.4 bln. The Group profit, following the results of year 2013, has amounted to RUR 19.5 bln., what is by 3.05 % higher than the figure for year 2012.
Group has achieved the positive financial results, mainly, due to the increase of "boiler" productive supply of electric power: the electric power supply growth by 2.96 % up to 71.4 bln. kWh has resulted in the proceeds increase from the electric power transmission by 10,67 % up to RUR 111.0 bln. The proceeds from the technological connection for year 2013 reduced by 26.30 % to RUR 16.9 bln. The proceeds reduction from rendering of the technological connection services is related with the statutory and regulatory enactments change, which regulate the technological connection activity. From 01.01.2011 the structure of the technological connection payment includes the expenditures only for construction of the electric grid facilities – from the existing electric grid facilities to the connected power receivers and (or) facilities of the electric-power industry. Earlier the structure of the technological connection payment accounted the expenditures for reconstruction of the feeding and distribution grid.
Operating expenses of the Group for year 2013 have grown by 4.11% up to RUR 106.8 bln., what is tied with the services cost increase of JSC "UES FGC" and Territorial Grid Organization, as well as with the growth of expenditures for the purchased electric power to compensate for losses.
Following the totals of the reporting period, according to the consolidated reports, JSC "MOESK" got the profit in the amount of RUR 19.5 bln., what is by 3.05 % higher than the figure for year 2012.
For reference only. Consolidated reports of the Group include the following subsidiary enterprises: JSC "Moskabel'set'montazh" (MKSM), JSC "Moskabel'energoremont" (MKER), JSC "Plant of repair of electrical machinery" (RETO), OJSC "Energocenter".
Table 1. Brief report about the financial standing
|
Title of figure
|
Measurement unit
|
2013
|
2012
|
2013/2012
|
|
Noncurrent assets
|
RUR mln
|
259,902
|
238,515
|
+8,97 %
|
|
Current assets
|
RUR mln
|
26,399
|
30,542
|
-13,56 %
|
|
Totally assets
|
RUR mln
|
286,301
|
269,057
|
+6,41 %
|
|
Equity capital
|
RUR mln
|
153,578
|
138,947
|
+10,53 %
|
|
Long-term obligations
|
RUR mln
|
73,902
|
72,518
|
+1,91 %
|
Table 2. Brief report about the profit or loss and another aggregate income
|
Title of figure
|
Measurement unit
|
2013
|
2012
|
2013/2012
|
|
Proceeds
|
RUR mln
|
129,125
|
125,324
|
+3,03 %
|
|
RUR mln
|
110,981
|
100,280
|
+10,67 %
|
|
RUR mln
|
16,900
|
22,930
|
-26.30 %
|
|
RUR mln
|
1,244
|
2,114
|
-41.13 %
|
|
Operating expenses
|
RUR mln
|
(106,760)
|
(102,549)
|
+4.11 %
|
|
Other operating incomes
|
RUR mln
|
4,163
|
3 352
|
+24.20 %
|
|
Pretax profit
|
RUR mln
|
24,371
|
25 330
|
-3.79 %
|
|
Expense on profit tax
|
RUR mln
|
(4,898)
|
(6,433)
|
-23.86 %
|
|
Profit for year
|
RUR mln
|
19,473
|
18,897
|
+3.05 %
|
|
Base and diluted profit per ordinary share
|
RUR
|
0.3970
|
0.3882
|
+2.27 %
|
|
For reference only: EBITDA
|
RUR mln
|
44,446
|
43,521
|
+2.12 %
|
Table 3. Brief report about cash flow
|
Title of figure
|
Measurement unit
|
2013
|
2012
|
2013/2012
|
|
Monetary assets from operating activities, net
|
RUR mln
|
36,168
|
39,692
|
-8.88 %
|
|
Monetary assets (used in) investment activity, net
|
RUR mln
|
(38,535)
|
(38,703)
|
-0.43 %
|
|
Monetary assets (used in)/received from financial activity, net
|
RUR mln
|
(4,368)
|
3,397
|
–
|
|
Monetary assets and their equivalents as at year end
|
RUR mln
|
1,596
|
8,332
|
-80.84 %
|
Following the totals of the annual financial reports publication for year 2013, prepared according to IFRS, a phone conference will take place on the 3d of April (Thursday) at 16:00 Moscow time.
The following representatives of JSC "MOESK" will take part in the arrangement:
- Alexey Starostin – deputy director general for corporate governance and ownership;
- Valentina Bragova – director for economics and finances;
- Elena Ivanova – director of the tariff formation department;
- Leonid Yuhin – director for the pricing control and investments;
- Roman Ponkraschenkov – director of the corporate finance department;
- Alexandra Nechepurenko – chief expert-deputy head of the management of the consolidated reports according to international standards.
Phone conference will be held in the Russian language, the approximate length will be 1 hour.
To take part in the conference it's necessary to dial 8 (10) 44-20-7190-1595 and call in the English language number 4678024.
JSC "MOESK" invites all the participants to join the phone conference in advance of several minutes before the fixed time, in order to provide the timely beginning of the arrangement, as well as o check the communication technical state. If you want to ask a question the phone conference participants, please dial the combination *1 on your phone.
*****
JSC "Moscow United Electric Grid Company" (JSC "MOESK") – is one of the largest distribution electric grid companies in Russia.
JSC "MOESK" provides the power supply of the Moscow region which is most dynamically developing in the country, with the population of about 17 mln people. The primary activity types of the company – are the services rendering for electric power transmission and technological connection of the consumers to the electric grids in the territory of Moscow and Moscow Region.
Control parcel of shares of JSC "MOESK" (50.9 %) is owned by JSC "Russian Grids".
JSC "Russian Grids" – is the largest in Russia and in the world energy company, providing transmission and distribution of electric power.
Length of the Company power transmission lines is 2.3 mln km, the transformer capacity is 463 thousand substations – 726 kilovolt-ampere. The numerical strength of the personnel of the Group of companies "Russian Grids" – is 213 thousand top-ranked specialists.
Property complex of the Company includes the parcels of 43 subsidiary and dependent entities, including the parcels of shares of 11 interregional and 5 regional grid companies. Controlling shareholder is the government which possesses of a share in the charter capital in the amount of 61.7 %.
In execution of Decree of the Russian Federation President, in June of 2013 the parcel of shares of JSC "UES FGC" owned by RF, was transferred as the contribution into the company charter capital.
IR Department of JSC "MOESK"
Tel.:+7(495) 984-57-74;
+7(495) 984-57-72