Mosenergo Releases 1H 2020 IFRS Results
Mosenergo releases unaudited consolidated interim abbreviated financial statements (prepared in accordance with IFRS) for the 6 months ended June 30, 2020.
| Consolidated Statement of Comprehensive Income Key Figures, (mn RUR) | 6M 2019 | 6M 2020 | Change |
| Revenue | 103,855 | 92,952 | —10.5% |
| Operating Costs | (89,686) | (84,801) | —5.4% |
| EBITDA(1) | 23,033 | 18,155 | —21.2% |
| Depreciation and Amortization | (8,994) | (11,376) | +26.5% |
| Operating Profit | 14,039 | 6,779 | —51.7% |
| Profit for the Period | 12,730 | 6,592 | —48.2% |
(1) Calculated as “Operating Profit + Depreciation and Amortization”
PJSC “Mosenergo” and subsidiaries (Mosenergo Group) revenue for 1H 2020 decreased by 10.5% year-on-year, down to RUR 92,952 mn. The reason for the decline was lower revenue from electricity and heat sales (-21.7% and —4.0%, correspondingly), resulting from warmer weather in 1q 2020, decreased electricity consumption on the back of COVID-19 and increased electricity output at nuclear stations in the Central energy system and hydro stations.
Operating costs for 6M 2020 decreased year-on-year by 5.4% down to RUR 84,801 mn.
EBITDA amounted to RUR 18,155 mn (-21.2% year-on-year).
Mosenergo Group IFRS profit for 1H 2020 decreased by 48.2%, down to RUR 6,592 mn.