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8 800 220-0-220 Contact CenterProfit of JSC "MOESK" according to IFRS for year 2013 has grown by 3.05 % to RUR 19.5 bln.
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03.04.2014
Today JSC "MOESK" declares its financial results according to IFRS for year 2013. Pursuant to the consolidated reports, the proceeds of the Group has grown by 3.03 % to RUR 129.1 bln., EBITDA has increased by 2.12 % to RUR 44.4 bln. The profit of the Group following the totals of year 2013 has amounted to RUR 19.5 bln., what is by 3.05 % more than the indicator for year 2012.
Group has achieved the positive financial results, mainly, owing to increase of the "boiler" productive supply of electric power: the growth of the electric power supply by 2.96 % to 71.4 bln. kWh has resulted in the proceeds growth from electric power transmission by 10.67 % to RUR 111,0 bln. The proceeds from the technological connection for year 2013 has decreased by 26.30 % to RUR 16,9 bln. The proceeds decrease from the grid connection services rendering is related with the change of the statutory and regulatory enactments, regulating the grid connection activity. From 01.01.2011 the grid connection payment includes the expenses 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 expenses for reconstruction of the feeding and distribution grid were accounted as part of the grid connection payment.
Operating expenses of the Group for year 2013 have grown by 4.11% to RUR 106.8 bln., what is related with increase of the services cost of JSC "FGC UES" and Territorial Grid Organizations, as well as the expenses growth for purchased electric power to compensate for losses.
Following the totals of the reporting period, according to the consolidated reports, JSC "MOESK" has got the profit in the amount of RUR 19.5 bln., what by 3.05 % higher than the indicator for year 2012.
For reference only. Consolidated reports of the Group includes the following subsidiary enterprises: JSC "Moskabel'set'montazh" (MKSM), JSC "Moskabel'energoremont" (MKER), JSC "Plant on repair of electrical machinery" (RETO), JSC "Energocenter".
Table 1. Brief report about the financial standing
| Indicator title | 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 % |
| Short-term obligations | RUR mln. | 58,822 | 57,592 | +2.13 % |
| Totally equity capital and obligations | RUR mln. | 286,301 | 269,057 | +6.41 % |
Table 2. Brief report about profit or loss and miscellaneous total income
| Indicator title | Measurement unit | 2013 | 2012 | 2013/2012 |
| Proceeds | RUR mln. | 129,125 | 125,324 | +3.03 % |
| electric power transmission | RUR mln. | 110,981 | 100,280 | +10.67 % |
| proceeds from services rendering for connection to electric grids | RUR mln. | 16,900 | 22,930 | -26.30 % |
| other proceeds | RUR mln. | 1,244 | 2 114 | -41.13 % |
| Operating expenses | RUR mln. | (106,760) | (102,549) | +4.11 % |
| Miscellaneous operating expenses | RUR mln. | 4,163 | 3,352 | +24.20 % |
| Pre-tax 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
| Indicator title | Measurement unit | 2013 | 2012 | 2013/2012 |
| Monetary assets from operating activity, 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)/obtained 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 results of the publications of the annual financial reports for year 2013, prepared according to IFRS, a telephone 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 the corporate governance and ownership;• Valentina Bragova – director for economics and finances;• Elena Ivanova – director of the tariff formation department;• Leonid Yushin – director for the pricing control and investments;• Roman Ponkraschenkov – director of the corporate finances department;• Alexandra Nechepurenko – chief expert - deputy head of the management by consolidated reports under the international standards.
Telephone conference will be held in the Russian language, an approximate duration will be 1 hour.
To take part in the conference it's necessary to dial a phone number 8 (10) 44-20-7190-1595 and call number 4678024 in the English language.
JSC "MOESK" invites all the participants to connect to telephone conference in advance of several minutes before the appointed time in order to secure the timely beginning of the arrangement, as well as a check of the technical state of communication. If you want to ask a question to the telephone conference participants, please dial *1 on the telephone.
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JSC "Moscow United Electric Grid Company" (JSC "MOESK") – is one of the largest distribution electric grid companies of Russia.
JSC "MOESK" provides the power supply of the most dynamically developing Moscow region in the country with the population of about 17 mln people. The primary activity types of the company – are services rendering for electric power transmission and grid connection of consumers to the electric grids in the territory of Moscow and Moscow Region.
Control parcel of JSC "MOESK" shares (50.9 %) is owned by JSC "Rosseti".
JSC "Rosseti" – 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 counts 2.3 mln km, the transformer capacity of 463 thousand substations – is 726 GVA. The numerical strength of the personnel of the Group of companies of "Rosseti" – is 213 thousand top-ranked specialists.
Property complex of the Company includes the parcels of 43 subsidiary and dependent companies, including the parcels of shares of 11 interregional and 5 regional grid companies. The controlling shareholder is the government, which possesses of a stake 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 "FGC UES" owned by RF, was transferred to the company as the contribution into the charter capital.
IR Division of JSC "MOESK"
Tel.:+7(495) 984-57-74;
+7(495) 984-57-72