RELEASE
March 12, 2018
Moscow
Mosenergo 2017FY IFRS Profit Grew by 84.6%
Mosenergo releases audited consolidated financial statements (prepared in accordance with IFRS) for the 12 months ended December 31, 2017.
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Consolidated Statement of Comprehensive Income
Key Figures, (mn RUR)
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2016
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2017
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Revenue
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190,656
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196,056
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Variable Costs
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(126,240)
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(121,963)
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Fixed Costs (1)
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(26,160)
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(26,542)
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EBITDA (2)
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30,703
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44,327
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EBITDA, adj. (3)
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38,256
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47,551
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Depreciation of Property, Plant and Equipment
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(15,067)
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(15,117)
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Operating Profit
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15,636
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29,210
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Profit for the Period
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13,438
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24,802
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(1) Excluding depreciation of PP&E
(2) EBITDA = operating profit + depreciation of PP&E
(3) Adjusted to net charge for impairment and other provisions
Company revenue in 2017FY grew by 2.8% year-on-year up to RUR 196,056 mn. The main reason for the revenue growth was high performance of CCGT-units, commissioned under Capacity Supply Agreements (CSA).
Variable costs decreased by 3.4% year-on-year, down to RUR 121,963 mn.
Fixed costs (excluding depreciation of PP&E) in the reporting period slightly increased by 1.5%, amounting to RUR 26,542 mn.
EBITDA for 2017 amounted to RUR 44,327 mn (+44.4% year-on-year).
Mosenergo IFRS profit for 2017 increased by 84.6%, up to RUR 24,802 mn.
MOSENERGO PR DEPARTMENT
.