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8 800 220-0-220 Contact CenterToday JSC "MOESK" declares its financial results according to IFRS for the 1-st quarter of 2014
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23.07.2014
Today JSC "MOESK" declares its financial results according to IFRS for the 1-st quarter of 2014: the proceeds of the Company has reached RUR 59,129 million., operating expenses has amounted to RUR 52,452 million., the Company has made the profit in the amount of RUR 2,612 million.
In accordance with the results of the 1-st quarter of 2014, the proceeds of JSC “MOESK” has amounted to RUR 59,129 million. The proceeds increase has resulted in the proceeds growth from electric power transmission: if in the 1-st quarter of 2013 the proceeds from this activity amounted RUR 54,223 million, but in the 1-st quarter of 2014 this indicator has grown by 3.0% to RUR 55,831 million. The proceeds from services rendering for connection to electric grids has amounted to RUR 3,017 million. The proceeds decrease from services rendering for connection to electric grids, in comparison with the same period of 2013, is related with the changes of the statutory and regulatory enactments, governing the grid connection activity.
Operating expenses has amounted to RUR 52,454 million, including operating expenses for the electric power transmission – RUR 51,921 million, and operating expenses for connection to electric grids – RUR 399 million. The operating expenses growth is related with the increase of the services cost of Grid Organizations (Municipal Unitary Enterprises, Territorial Grid Organizations) and JSC "FGC UES", the activity of which is not regulated by the Company.
For the 1-st quarter of the current year the Company received other incomes in the amount of RUR 2,485 million, other expenses of the Company for this period has amounted to RUR 3,228 million.
The negative balance decrease of other expenses and the expenses in reference to the same period of 2013 is observed in the reporting period.
EBITDA indicator for the 1-st quarter has amounted to RUR 16,665 million, and the profit of the Company has grown to RUR 2,612 million.
Financial results according to IFRS
|
Indicator title
|
Measurement unit
|
2014
|
2013
|
2014/2013
|
|
1. Proceeds
|
RUR mln.
|
59,129
|
59,083
|
0.1 %
|
− electric power transmission |
RUR mln.
|
55,831
|
54,223
|
3.0%
|
− proceeds from services rendering for connection to electric grids |
RUR mln.
|
3,017
|
4,690
|
-35.7 %
|
| 2. Operating expenses | RUR mln. | 52,454 | 45,604 | 15% |
– electric power transmission | RUR mln. | 51,921 | 45,196 | 14,9% |
− proceeds from services rendering for connection to electric grids | RUR mln. | 399 | 358 | 11.4% |
| 3. Pre-tax profit | RUR mln. | 6,677 | 13,480 | -50.5% |
| 4. Profitability on pre-tax profit | % | 11.29 | 22.81 | -11.52 p.p. |
|
5. Other incomes
|
RUR mln.
|
2,485
|
3,288
|
-24.4 %
|
|
6. Other expenses
|
RUR mln.
|
3,228
|
7,128
|
-54.7%
|
|
7. EBITDA
|
RUR mln.
|
16,665
|
18,857
|
-11.6 %
|
|
8. Profitability on EBITDA
|
%
|
28.18
|
31.92
|
-3.74 p.p.
|
|
9. Profit
|
RUR mln.
|
2,612
|
5,951
|
-56.1 %
|
|
10. Profitability on profit
|
%
|
4.42
|
10.07
|
-5.65 p.p.
|
*****
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