Net profit of Rosseti Moscow Region for the 2nd quarter of 2021 increases by more than 80%

Today PJSC Rosseti Moscow Region has published accounting statements for the 2nd quarter of 2021, prepared in accordance with Russian accounting standards.

Key financial indicators

Item No.	Indicator name	first six months of 2021	first six months of 2020	Change, %
1	Revenue	90,285	78,074	15.6%
	- from electric power transmission	84,598	73,452	15.2%
	- from technical connection	3,977	3,661	8.6%
	- from other activities	1,710	961	77.9%
2	Prime cost	75,563	69,806	8.2%
3	EBITDA	26,832	22,180	21.0%
4	Net profit	10,356	5,728	80.8%
5	Loans and credit	77,277	88,469	-12.7%
6	Net debt	72,448	81,641	-11.3%

The Company's revenue has amounted to 90.3 billion rubles, which is 15.6% higher than in 2020. The dynamics of revenue is mainly caused by an increase in revenues from core electricity transmission activities (an increase by 15.2% compared to the first 6 months of 2020) which followed an increase in the volume of electricity transmission services rendered. The increase in energy consumption is the result of business activity recovered in the Moscow region, as well as the impact of temperature factors.

In addition, the Company is successfully implementing a strategy to increase non-tariff revenues by developing energy supply services. Revenue from other activities for the first 6 months of 2021 increased by 78% compared to the same period in 2020.

During the reporting period, while the debt indicator remained at the level of the 1st quarter of 2021, the Company successfully implemented a set of measures to reduce financial expenses in the face of rising interest rates in the market. The applied measures reduced the volume of interest payments by 668 million rubles compared to the same period in 2020.

The growth of income from core activities led to a significant increase in net profit by 81% compared to the first six months of 2020, up to 10.4 billion rubles.