According
to the prepared in accordance with the Russian Accounting Standards
statements for 9 months of 2023, revenue of Rosseti Centre and Volga
region, PJSC (the ticker – MRKP) was 92 722,0 mln RUB,
including from electric energy transmission – 88 297,3 mln
RUB, from grid connections – 2 958,3 mln RUB and other revenue
– 1 466,4 mln RUB. Sales profit1 was 16 949,2
mln RUB. Earnings before interest, taxes, depreciation and
amortization (EBITDA2) reached 26 773,9 mln RUB. Net
profit increased to 11 887,6 mln RUB, while the growth rate was
44,2%.
Data
in million RUB, unless specified otherwise
Indicators
|
9M
2023
|
9M
2022
|
Change
|
Revenue
(total), including:
|
92
722,0
|
80
697,4
|
14,9%
|
Revenue
from electric energy transmission
|
88
297,3
|
78
018,8
|
13,2%
|
Revenue
from grid connection
|
2
958,3
|
1
641,0
|
80,3%
|
Other
revenue
|
1
466,4
|
1
037,6
|
41,3%
|
Cost
of sales
|
75
237,4
|
66
602,2
|
13,0%
|
Sales
profit1
|
16
949,2
|
13
438,4
|
26,1%
|
Sales
profit margin, %
|
18,3%
|
16,7%
|
1,6
p.p.
|
EBITDA2
|
26
773,9
|
21
345,9
|
25,4%
|
EBITDA
margin, %
|
28,9%
|
26,5%
|
2,4
p.p.
|
Net
profit
|
11
887,6
|
8
244,3
|
44,2%
|
Net
profit margin, %
|
12,8%
|
10,2%
|
2,6
p.p.
|
Amount
of electric energy transmitted3, million kWh
|
35 335,9
|
35 302,4
|
0,1%
|
Electric
energy losses, %
|
6,68%
|
7,01%
|
-0,33
p.p.
|
Indicators
|
As
of 30.09.2023
|
As
of 31.12.2022
|
Change
|
Total
assets
|
173 159,9
|
166
634,3
|
3,9%
|
Net
assets
|
98 428,9
|
86
832,6
|
13,4%
|
Borrowed
funds
|
25 220,3
|
26
999,8
|
-6,6%
|
Cash
and cash equivalents + Financial investments (short-term)
|
13 107,3
|
7
924,8
|
65,4%
|
Net
debt4
|
12 113,0
|
19
075,0
|
-36,5%
|
[1] Revenue
net of cost of sales, selling and administrative expenses
[2] EBITDA
is calculated as follows: Profit before tax + Interest payable +
Depreciation
[3] Without
generator voltage
[4] Net
debt is calculated as follows: long-term borrowed funds +
short-term borrowed funds – cash and cash equivalents –
short-term financial investments
|
The
volume of electricity transmission services remained practically
unchanged compared to the same period last year and amounted to
35 335,9 million kWh (+0,1%). Thanks to the implementation of a
set of organizational and technological measures, the level of
electricity losses was reduced to 6,68% (by 0,33 p.p.).
Due
to the change of the boiler tariff from 1 July and 1 December 2022,
the revenue for electricity transmission services for 9 months of
2023 increased by 13,2% compared to the same period of 2022. The
increase in the revenue from grid connection by 80,3% is due to a
change in the pricing of preferential categories of applicants from 1
July 2022 and execution of major grid connection contracts in the
Kaluga and Nizhny Novgorod regions. As a result of targeted
development of the non-tariff segment of activity, the other revenue
increased by 41,3% and amounted to 1 466,4 mln RUB, which is due
to implementation of projects for maintenance of power installations,
repair and construction of outdoor lighting networks, development of
services for performing work within the competence of the applicant
during grid connection.
According
to the results of 9 months of 2023, the cost of sales increased by
13,0% compared to the same period last year and amounted to 75 237,4
mln RUB, which was due to an increase in tariffs for electricity
transmission services through grids of the Unified National Power
Grid and in networks of third-party territorial grid organizations,
an increase in the cost of purchased electricity to compensate for
losses, growth in depreciation and indexation of employees’
salaries.
The
EBITDA2 indicator increased by 25,4% and amounted to
26 773,9 mln RUB, the EBITDA margin grew up compared to the same
period last year by 2,4 p.p. and amounted to 28,9%. The net profit
increased by 44,2% up to 11 887,6 mln RUB, while the net profit
margin rose to 12,8%.
The
Company’s total assets as of 30
September 2023 amounted to 173 159,9 mln RUB (as of 31 December
2022 – 166 634,3 mln RUB). The Company’s net assets grew up by
13,4% and reached 98 428,9 mln RUB. The net debt3
decreased by 36,5% and amounted to 12 113,0 mln RUB.
The
Company’s statements for 9 months of 2023 can be found at:
https://www.mrsk-cp.ru/en/stockholder_investor/disclosure_reporting_info/finansovaya-informatsiya-i-otchetnost/ras-accounting-statements/.
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