OREANDA-NEWS. IDGC of Centre published financial statements for 9 months of 2016 under RAS, net profit amounted to 1,3 bln RUB

According to statements for 9 months of 2016 under Russian Accounting Standards IDGC of Centre’s revenue amounted to 61,6 bln RUB, including from electricity transmission — 60,0 bln RUB, from grid connection — 0,9 bln RUB and other revenue — 0,7 bln RUB. Sales profit was 6,7 bln RUB, sales profit margin decreased and amounted to 10,9%. Earnings before interest, taxes, depreciation and amortization (EBITDA2) increased by 7,8% and reached 12,5 bln RUB. Net profit showed growth by 44,4% compared to the same indicator of last year and amounted to 1,3 bln RUB.

Data in bln RUB, unless specified otherwise

Indicators

9M 2015

9M 2016

Change, %

Revenue (total), including:

57,8

61,6

6,6%

Revenue from electric energy transmission

56,4

60,0

6,4%

Revenue from grid connection

0,8

0,9

12,5%

Other revenue

0,6

0,7

16,7%

Cost of sales

49,6

53,5

7,9%

Sales profit1

6,5

6,7

3,1%

Sales profit margin, %

11,2%

10,9%

- 0,3 p.p.

EBITDA2

11,6

12,5

7,8%

EBITDA margin, %

20,1%

20,3%

0,2 p.p.

Net profit

0,9

1,3

44,4%

Net profit margin, %

1,6%

2,1%

0,5 p.p.

Amount of electric energy transmitted, billion kWh

40,3

41,1

2,0%

Electric energy losses, %

8,57%

8,57%

0,00 p.p.

Indicators

As at 31.12.2015

As at 30.09.2016

Change, %

Total assets

117,9

121,1

2,7%

Net assets

56,3

57,2

1,6%

Loans and credits

42,1

42,6

1,2%

Cash and cash equivalents + Financial investments

0,1

0,1

0,0%

Net debt3

42,0

42,6

1,4%

[1] Revenue net of costs, selling and administrative expenses

[2] EBITDA is calculated as follows: net profit + profit tax and other similar mandatory payments + interest payable + depreciation charges

[3] Net debt is calculated as follows: long-term debt + short-term debt – cash and cash equivalents – financial investments