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