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PJSC Mosenergo releases IFRS for 1Q2019

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PJSC Mosenergo (AOMOY)
PJSC Mosenergo releases IFRS for 1Q2019

08-May-2019 / 12:21 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

RELEASE
*******

May 8, 2019

Moscow

PJSC «Mosenergo» releases IFRS for 1Q2019

Mosenergo releases interim unaudited consolidated financial statements
(prepared in accordance with IFRS) for the 3 months ended March 31, 2019.

Consolidated Statement of Comprehensive Income 3M 2018 3M 2019

Key Figures, (mn RUR)
Revenue 72,197 67,092
Variable Costs (46,908) (44,972)
Marginal profit(1) 11,760 12,983
Fixed Costs (2) (5,608) (5,544)
EBITDA, adj. (3) 19,681 16,576
Depreciation of Property, Plant and Equipment (3,641) (3,816)
Operating Profit 15,545 12,485
Profit for the Period 12,742 10,662

(1) Counted as «Revenue from electricity and heat sales - Variable costs»

(2) Excluding depreciation of PP&E

(3) Adjusted to net charge for impairment and other provisions

Mosenergo revenue in 1Q2019 decreased by 7.1% year-on-year to RUR 67,092 mn.

Revenue from electricity and heat sales in reported period fell by 1.2%
year-on-year to RUR 57,955 mn. due to warmer weather in 1Q2019 and
corresponding reduction of heat output by 12.1%.

Variable costs decreased by 4.1% year-on-year, to RUR 44,972 mn, on the
account of fuel expenses reduction, resulting from heat output fall and
production regimes optimization allowed decreasing fuel rate for electricity
by 1.4%.

Mosenergo marginal profit in 1Q2019 amounted to RUR 12,983 mn, up by 10.4%.

Revenue from capacity sales decreased by 33.8%, down to RUR 8,538 mn, after
CSAs expiry for three units.

Fixed costs (excluding depreciation of PP&E) in the reporting period
decreased by 1.1%, amounting to RUR 5,544 mn.

EBITDA, adjusted to net charge for impairment and other provisions, 1Q2019
amounted to RUR 16,576 mn (-15.8% year-on-year).

Mosenergo IFRS profit for 1Q2019 decreased by 16.3%, down to RUR 10,662 mn.

MOSENERGO PR DEPARTMENT

Tel.: (495) 957-1-957, ext. 2282, 2290

Fax: (495) 957-37-99

?-mail: press-centre@mosenergo.ru

Website: http://www.mosenergo.ru [1]

ISIN: US0373763087, RU0008958863
Category Code: QRF
TIDM: AOMOY
Sequence No.: 8548
EQS News ID: 808579

End of Announcement EQS News Service


1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=d954348232c8135319c9a1535d529470&application_id=808579&site_id=vwd_london&application_name=news


(END) Dow Jones Newswires

May 09, 2019 17:16 ET ( 21:16 GMT)
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