RELEASE
March 9, 2021
Moscow
Mosenergo Releases 2020FY IFRS Results
Mosenergo releases audited consolidated financial statements (prepared in accordance with IFRS) for the 12 months ended December 31, 2020.
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Consolidated Statement of Comprehensive Income, Key Figures, (mn RUR)
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2019FY
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2020FY
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Change
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Revenue
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189,777
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180,908
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-4.7%
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Operating Costs
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(179,290)
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(172,235)
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-3.9%
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EBITDA(1)
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24,587
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30,472
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+23.9%
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Depreciation and Amortization
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(17,974)
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(22,874)
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+27.3%
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Operating Profit
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6,613
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7,598
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+14.9%
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Profit for the Period
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9,599
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8,045
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-16.2%
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(1) Calculated as «Operating Profit + Depreciation and Amortization».
PJSC «Mosenergo» and subsidiaries (Mosenergo Group) revenue for 2020FY decreased by 4.7% year-on-year, down to RUR 180,908 mn. The reason for the decrease was lower revenue from electricity (-13.5%). The operating performance decline resulted from decreased electricity consumption, as well as relatively warm weather and shorter heating period in 2020.
Operating costs for 2020FY decreased year-on-year by 3.9% down to RUR 172,235 mn.
EBITDA amounted to RUR 30,472 mn (+23.9% year-on-year) due to decreasing of net charge for impairment and other provisions in 2020.
Mosenergo Group IFRS profit for 2020FY decreased by 16.2%, down to RUR 8,045 mn.
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