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.
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Consolidated Statement of Comprehensive Income
Key Figures, (mn RUR)
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9M 2019
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9M 2020
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Change
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Revenue
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133,378
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122,108
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-8.4%
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Operating Costs
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(120,895)
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(116,803)
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-3.4%
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EBITDA(1)
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26,225
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21,264
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-18.9%
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Depreciation and Amortization
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(13,551)
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(17,203)
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+27.0%
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Operating Profit
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12,674
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4,061
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-68.0%
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Profit for the Period
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12,624
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5,344
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-57.7%
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(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.
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