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8 800 220-0-220 Contact CenterIFRS net profit of PJSC MOESK increased by 23% in 2019
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12.03.2020
The Moscow United Electric Grid Company (hereinafter referred to as PJSC MOESK or the Company, MSRS ticker on the Moscow Stock Exchange), a member of the PJSC Rosseti Group of Companies, which provides electric power transmission services in the city of Moscow and the Moscow Region, publishes consolidated financial results for International Financial Reporting Standards (IFRS) for the 12 months of 2019.
The main results: million rubles.
| Financial performance | 2018 | 2019 | The change,% |
| Revenue | 161,463 | 159,485 | 1,2% |
| - power transmission | 148,567 | 145,380 | 2,2% |
| - technological connection | 8 754 | 9 023 | (3,0)% |
| Operating expenses | (147 471) | (143 705) | 2,6% |
| EBITDA | 39 970 | 37 906 | 5,4% |
| Net profit | 8 107 | 6,586 | 23,1% |
The Company's revenue amounted to 161.5 billion rubles, including revenue from electricity transmission - 148.6 billion rubles, revenue from technological connection - 8.8 billion rubles.
According to the results of 2019, the cost price increased by 2.6%, primarily due to the growth of uncontrolled expenses (depreciation and purchase of electricity to compensate for losses).
Net profit for 2019 amounted to 8.1 billion rubles, an increase of 23.1% compared with the previous year.
For reference:
The following subsidiaries are included in the consolidated financial statements of the Group: JSC MOESK-Engineering, JSC “Plant on repair of electrical machinery”, JSC Energotsentr.
The consolidated financial statements of PJSC MOESK under IFRS for 12 months of 2019 are available on the Company's corporate website and at: https://www.moesk.ru/upload/iblock/659/MSFO-12m-2019ru.pdf