According to RAS accounts the net profit of JSC “MOESK” for 2014 made up RUR 8.2 bln.

Today JSC “MOESK” declares its financial results for 2014 according to RAS accounts: the Company’s revenue has reached RUR 125.3 bln, costs are RUR 108.7 bln, net profit is RUR 8.2 bln.

In accordance with 2014 results the revenue of JSC “MOESK” is RUR 125.3 bln. In the accounting period the revenue from power transmission has increased by 1.4 % to RUR 112.5 bln. Such increase of the revenue from electric power transmission is accounted for by the increase of the net electricity supply and Joint Operations tariffs in 2014 as compared to 2013.The revenue from technological connection has amounted to RUR 11.8 bln. Such decrease of the revenue from technological connection services is accounted for by changes in the regulatory documents governing the relative activities as compared to similar period in 2013.

The costs have amounted to RUR 108.7 bln, including the electric power transmission costs in the amount of RUR 107.4 bln, the technological connection costs in the amount of RUR 0.9 bln. Such increase of the costs is mainly accounted for by the increase of non-influenceable costs and amortization deductions, in particular by increased tariffs of other territorial grid companies.

In the accounting year the Company earned other income in the amount of RUR 9.4 bln, the Company’s other expenses incurred in the same period amounted to RUR 11.1 bln. The accounting period is marked by reduced negative balance of other income and expenses as compared to 2013, which can be accounted for by lower accruals of allowances for doubtful debts in 2014.

EBITDA for 2014 has amounted to RUR 36.5 bln, the Company's net profit has totaled to RUR 8.2 bln. The basic reason for the net profit decrease as compared to 2013 is the increased costs due to the Company’s non-influenceable costs.

No.	Indicator name	2014	2013	Change
1.	Revenue, RUR mln, incl.:	125,260	124,731	0.42 %
	- from power transmission, RUR mln	112,509	110,981	1.38 %
	- from technical connection, RUR mln	11,830	13,231	(10.59 %)
2.	Prime cost, RUR mln	(108,711)	(103,023)	5.52 %
	- from power transmission, RUR mln	(107,374)	(101,891)	5.38 %
	- from technical connection, RUR mln	(948)	(969)	(197.83 %)
3.	Gross profit, RUR mln	16,549	21,708	(23.77 %)
4.	Gross profit margin, %	13.21	17.40	(4.19 percentage point)
5.	Other income, RUR mln	9,403	10,766	(12.66 %)
6.	Other expenses, RUR mln	(11,148)	(14,794)	(24.65 %)
7.	EBITDA, RUR mln	36,509	36,430	0.00
8.	EBITDA margin, %	29.1	29.2	(0.10 percentage point)
9.	Net profit, RUR mln	8,208	11,640	(29.48 %)
10.	Net profit margin, %	6.55	9.33	(2.78 percentage point)