EQS-Adhoc: PJSC Mosenergo Releases 2019FY IFRS Results
EquityStory.RS, LLC-Ad-hoc: PJSC Mosenergo / Key word(s): Annual Results/Annual Results
PJSC Mosenergo Releases 2019FY IFRS Results
06-March-2020 / 08:41 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EquityStory.RS, LLC - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
RELEASE
March 6, 2020
Moscow
Mosenergo Releases 2019FY IFRS Results
Mosenergo releases audited consolidated financial statements (prepared in accordance with IFRS) for the 12 months ended December 31, 2019.
Consolidated Statement of Comprehensive Income Key Figures, (mn RUR)
2018
2019
Change
Revenue
198,870
189,777
-4.6%
Operating Costs
(127,542)
(127,536)
+4.0%
EBITDA(1)
41,085
21,972
-46.5%
Depreciation and Amortization
(15,177)
(15,359)
+1.2%
Operating Profit
25,908
6,613
-74.5%
Profit for the Period
21,405
9,599
-55.2%
(2) Calculated as "Operating Profit + Depreciation and Amortization"
Mosenergo revenue for 2019FY decreased by 4.6% year-on-year, down to RUR 189,777 mn. The reason for the decline was lower revenue from capacity sales (-24.7%) on the back of capacity supply agreements expiry for three units, as well as lower revenue from heat sales (-5.3%), resulting from warmer weather in 2019 heating season. The revenue decrease was partly counterweighted by electricity output growing by 3.1%.
Operating costs increased 4.0%, up to RUR 179,290 mn.
EBITDA amounted to RUR 21,972 mn (-46.5% year-on-year).
Mosenergo IFRS profit for 2019FY decreased by 55.2%, down to RUR 9,599 mn.
MOSENERGO PR DEPARTMENT
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(495) 957-1-957, ext. 2282, 2290
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