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8 800 220-0-220 Contact CenterNet profit of Rosseti Moscow Region for 9 months of 2021 increases by 79%
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28.10.2021
Today, PJSC Rosseti Moscow Region has published its financial statements for the 9 months of 2021, prepared in accordance with Russian accounting standards.
Key financial indicators
| Item No. | Indicator name | 9 months of 2021 | 9 months of 2020 | Change, % |
|---|---|---|---|---|
| 1 | Revenue | 131,967 | 115,550 | 14.2% |
| - from electric power transmission | 123,407 | 108,314 | 13.9% | |
| - from technical connection | 5,949 | 5,167 | 15.1% | |
| - from other activities | 2,611 | 2,069 | 26.2% | |
| 2 | Prime cost | 112,825 | 103,936 | 8.6% |
| 3 | EBITDA | 38,410 | 32,075 | 19.8% |
| 4 | Net profit | 14,062 | 7,869 | 78.7% |
| 5 | Loans and credit | 77,618 | 86,037 | -9.8% |
| 6 | Net debt | 69,977 | 78,474 | -10.8% |
| 7 | Interest payable | 2,531 | 3,443 | -26.5% |
The Company's revenue amounted to 132 billion rubles, which is 14.2% higher than the same indicator for 2020. The dynamics of revenue compared to the same period in 2020 is influenced by:
- an increase in income from core electricity transmission activities (13.9%) caused by an increase in energy consumption in the Moscow region, due to the recovery of business activity and temperature factors;
- revenue growth from technical connection (15.1%);
- an increase in income from non-tariff services (26.2), due to the successful implementation of the strategy of increasing non-tariff income by developing additional services, as well as through energy supply.
- an increase in income from non-tariff services (26.2), due to the successful implementation of the strategy of increasing non-tariff income by developing additional services, as well as through energy supply.
During the reporting period, the Company successfully implemented a set of measures reducing the debt portfolio and financial expenses. Thanks to them, the volume of interest payments dropped by 913 million rubles compared to the same period in 2020, in the face of rising interest rates on the market.
The growth rate of revenue outpacing the growth rate of cost and the Company's effective implementation of operating cost management program provided a positive dynamics of the financial result, as well as the reduction of other expenses. The net profit for the first 9 months of 2021 amounted to 14 billion, which is 79% higher than the same period in 2020.