OREANDA-NEWS. Top managers of JSC “MOESK”, one of the largest distribution electric grid companies in Russia, have reported on the financial and production totals of the work in 2012 and represented the strategic and investment plans for 2013.

The heads of JSC “MOESK”: First Deputy Director General Alexander Inozemtsev, Deputy Technical Director for the distribution grids Andrey Miridonov and Director for the perspective development of the grid Alexander Pyatigor spoke at a press conference in information agency “Interfax”.

Financial and production figures

In 2012 the Company created a sound foundation for a long-term growth of the capitalization and consolidated the financial stability. By forecasts of the Company’s specialists, the proceeds for 2012 on RAS is expected at a level of RUR 117,906 mln, gross profit – RUR 25,557 mln, net profit – RUR 17,103 mln. Indicator EBITDA – is RUR 40,9 bln. As of 28.12.2012 the market capitalization of JSC “MOESK” amounted to RUR 73,5 bln.

As First Deputy Director General of MOESK Alexander Inozemtsev emphasized in his speech, the main priorities of the Company’s development in 2013 will remain a “subsequent simplifying of a technological connection procedure to the Company’s electric grids and time reduction for power supply recovery both in Moscow and in Moscow Region”. Besides that, as A. Inozemtsev specified, “in the region of the capital city a stable growth of the electric power consumption is observed, that’s why one of the most important objectives, faced by MOESK in the current year, is an increase of the reserve energy capacities in those districts of the metropolitan city and region, which will develop especially actively in the near future”.

By a forecast of the specialists of JSC “MOESK”, the volume of the electric power productive supply in 2012 increased up to 78,546 mln kWh, which is by 430 mln kWh more than the volume which had been planned for the year. In 2013 a level of the electric power losses under the electric power transportation through the grids of JSC “MOESK” should amount at average of not more than 9,6%. Towards 2016, the Company plans to reduce losses to 8,4%.

Repair program of JSC “MOESK” of 2012 has been fulfilled fully, by 100%, subject to the additionally allocated funds, in the amount of RUR 477 mln, for the repair works performance at the electric grid facilities of Moscow, including in the new districts. In 2013, RUR 4,989 mln. are planned to be directed for the repair and maintenance.

Investment program

Investment program of JSC “MOESK” for 2012 was executed fully:

capital investments were assimilated for RUR 35,647 mln., the plan had been RUR 33,007 mln, which amounts to 108% from the volume planned for 2012;

RUR 38,723 mln were introduced into the fixed assets, the plan had been RUR 37,504 mln, which amounts to 103%;

Volume of the Company’s investment program in 2013 on the capital investments assimilation and financing will increase by almost 37%, in relation to the indicators of 2012.