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8 800 220-0-220 Contact CenterAccording to IFRS the profit of PJSC “MOESK“ increased by 29,4% in the first half of 2015 and amounts to RUR 5.6 bln.
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27.08.2015
Today PJSC “MOESK” declares its financial results for the first half-year of 2015 according to unaudited IFRS-based financial statements. According to the consolidated statements the Group’s proceeds have increased by 2.08 % and amount to RUR 61.5 bln, EBITDA has increased by 14.64% and reached RUR 19.8 bln, as compared to similar indicators for the fist half-year of 2014. According to the results for the first half-year of 2015 the Group’s profit increased by 29.44% and amounts to RUR 5.6 bln. Thereby the Group’s operating costs fell by 2.20 % to RUR 53.2 bln.
The Group’s proceeds for the first half-year of 2015 have reached RUR 61.5 bln, specifically from electric power transmission PJSC “MOESK“ received RUR 55.9 bln, and from technological connection - RUR 4.1 bln.The increase of the proceeds from electric power transmission is accounted for by the increase of the weighted average tariff for the electric power as compared to the similar period of 2014. The increase from technological connection is accounted for by drawing up of acts under the contracts for technological connection to be closed in the following periods.
The costs have amounted to RUR 53.2 bln. As compared to the fist half-year of 2014 the decrease in operating costs is conditioned by the savings related to the costs for the electricity purchase for the purpose of compensation of losses, to the FGS services, to the costs of TGOs and implementation of the crisis bailout program by the Company.
According to the unaudited consolidated results for the first half-year of 2015 the profit of PJSC “MOESK“ increased by 29.44% and amounts to RUR 5.6 bln.
For reference.
The consolidated financial statement of the Group includes the following subsidiaries: JSC “Moskabelsetmontazh” (MKSM), JSC “Moskabelenergoremont” (MKER), JSC “Plant on repair of electrical machinery” (RETO), JSC “Energocenter”.
Table 1. Summary Statement of Financial Position
| Indicator name | UOM | H1 2015 | H1 2014 |
H1 2015/
H1 2014
|
| Non-current assets | RUR mln | 283,473 | 280,026 | 1.23 % |
| Current assets | RUR mln | 33,714 | 30,557 | 10.33 % |
| Total assets | RUR mln | 317,187 | 310,583 | 2.13 % |
| Equity | RUR mln | 162,472 | 159,026 | 2.17 % |
| Long-term liabilities | RUR mln | 77,227 | 75,165 | 2.74 % |
| Short-term liabilities | RUR mln | 77,488 | 76,392 | 1.43 % |
| Total equity and liabilities | RUR mln | 317,187 | 310,583 | 2.13 % |
Table 2. Summary Statement of Profits or Loss, and Other Comprehensive Income
| Indicator name | UOM | H1 2015 | H1 2014 |
H1 2015/
H1 2014
|
| Proceeds | RUR mln | 61,527 | 60,273 | 2.08 % |
| Operating costs | RUR mln | (53,179) | (54,373) | (2.20 %) |
| Other operating costs | RUR mln | 1,028 | 1,316 | (21.88 %) |
| Financial income | RUR mln | 631 | 216 | 192.60 % |
| Financial costs | RUR mln | (2,570) | (1,625) | 58.06 % |
| Income before tax | RUR mln | 7,437 | 5,807 | 28.07 % |
| Profit tax expense | RUR mln | (1,853) | (1,493) | 24.11 % |
| Profit for the reporting period | RUR mln | 5,584 | 4,314 | 29.44 % |
| Basic and diluted earnings per ordinary share | RUR | 0.1149 | 0.0873 | 31.62 % |
| For reference: EBITDA | RUR mln | 19,823 | 17,291 | 14.64 % |
Table 3. Summary Cash Flow Statement
| Indicator name | UOM | H1 2015 | H1 2014 |
H1 2015/
H1 2014
|
| Cash from operating activity | RUR mln | 13,569 | 17,049 | (20.41 %) |
| Cash used in investment activity | RUR mln | (14,552) | (15,218) | (4.38 %) |
| Cash used in financial activity | RUR mln | 3,973 | 1,018 | 290.43 % |
| Cash and cash equivalents at the end of the year | RUR mln | 7,295 | 4,445 | 64.12 % |