Net income of "Rosseti Moscow Region" for 2019 increased by more than 60%

According to the results of work for 2019, PJSC MOESK (operating under the "Rosseti Moscow Region" brand name), in accordance with Russian accounting standards, received a net profit of 6.6 billion rubles, thereby increasing its financial indicators by the same period last year by 63%- 4.0 billion rubles.

For the 4th quarter of 2019, a net profit of 0.8 billion rubles was obtained compared to a net loss for the 4th quarter of 2018.

The key impact on the growth of the financial indicators of the Company in the reporting year was provided by:

1. Effective cost control: operating expenses remained at the level of 2018.

2. Growth in the profitability of core electricity transmission activities by 1.8 percentage point

3. Growth of income from additional non-tariff services by 1 billion rubles

4. Growth in EBITDA margin by 1 percentage point up to 25%.

“The results achieved in 2019 confirm the correctness of the strategy chosen by management to transform the company and increase the efficiency of its activities. Investor confidence was returned, which resulted in an increase in the shareholder value of the Company. The company's management intends to make maximum efforts to maintain the current trend in the medium term in order to achieve the planned indicators”, - commented the results of the Company Vladimir Myasnikov, First Deputy General Director for Financial and Economic Activities and Corporate Governance of PJSC MOESK.