RELEASE
November 6, 2020
Moscow
Mosenergo Releases 9m 2020 IFRS Results
Mosenergo releases unaudited consolidated interim abbreviated financial statements (prepared in accordance with IFRS) for the 9 months ended September 30, 2020.
Consolidated Statement of Comprehensive Income
Key Figures, (mn RUR)
|
9M 2019
|
9M 2020
|
Change
|
Revenue
|
133,378
|
122,108
|
-8.4%
|
Operating Costs
|
(120,895)
|
(116,803)
|
-3.4%
|
EBITDA(1)
|
26,225
|
21,264
|
-18.9%
|
Depreciation and Amortization
|
(13,551)
|
(17,203)
|
+27.0%
|
Operating Profit
|
12,674
|
4,061
|
-68.0%
|
Profit for the Period
|
12,624
|
5,344
|
-57.7%
|
(1) Calculated as "Operating Profit + Depreciation and Amortization"
PJSC "Mosenergo" and subsidiaries (Mosenergo Group) revenue for 9M 2020 decreased by 8.4% year-on-year, down to RUR 122,108 mn. The reason for the decrease was lower revenue from electricity and heat sales (-16.2% and -4.5%, correspondingly). The operating performance decline resulted from unusually warm weather in 1q 2020 and decreased electricity consumption on the back of COVID-19 impact.
Operating costs for 9M 2020 decreased year-on-year by 3.4% down to RUR 116,803 mn.
EBITDA amounted to RUR 21,264 mn (-18.9% year-on-year).
Mosenergo Group IFRS profit for 9M 2020 decreased by 57.7%, down to RUR 5,344 mn.
06-Nov-2020 CET/CEST The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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