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 | (172,437) | (179,290) | +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% |
(1) 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.