"Rosseti Moscow Region" received 7.2 billion rubles of net profit under IFRS based on the results of 9 months of 2020.
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"Rosseti Moscow Region" (PJSC "MOESK", ticker MSRS on the Moscow Exchange), a member of the PJSC "Rosseti" Group of Companies providing electric power transmission services in Moscow and the Moscow Region, publishes consolidated financial results in accordance with International Financial Reporting Standards (IFRS) for 9 months of 2020.
The main results:
Revenue for 9 months of 2020 increased by 0.5% to 116.4 billion rubles. Net profit for the 9 months of 2020 amounted to 7.2 billion rubles, an increase of 7% compared with the results of the previous year. EBITDA for 9 months of 2020 amounted to 30.3 billion rubles.
The gradual recovery of economic activity in the Moscow region, as well as ongoing measures to reduce financial expenses, prioritize investment expenditures, optimize working capital and manage operating costs, allowed the company to improve its financial performance.
|Financial performance||9 months 2020||9 months 2019||9 months 2020 /9 months 2019|
|- power transmission||108,314||108,697||-0.4%|
|- technological connection||5,167||4,787||7.9%|
|- non-tariff services||2,934||2,392||22.7%|
The following subsidiaries are included in the consolidated financial statements of the Group: JSC MOESK-Engineering, JSC “Plant on the repair of electrical machinery”, JSC Energotsentr.
The consolidated interim financial statements of "Rosseti Moscow Region" under IFRS for the 3 and 9 months ended 30 September 2020 are available on the Company's corporate website and are available at:https://rossetimr.ru/invest_news/otchetnost/otchet_msfo/