Mosenergo Releases 2020FY IFRS Results

March 9, 2021 10:47

Consolidated Statement of Comprehensive Income, Key Figures, (mn RUR)

2019FY

2020FY

Change

Revenue

189,777

180,908

—4.7%

Operating Costs

(179,290)

(172,235)

—3.9%

EBITDA(1)

24,587

30,472

+23.9%

Depreciation and Amortization

(17,974)

(22,874)

+27.3%

Operating Profit

6,613

7,598

+14.9%

Profit for the Period

9,599

8,045

—16.2%

(1) Calculated as «Operating Profit + Depreciation and Amortization».

PJSC «Mosenergo» and subsidiaries (Mosenergo Group) revenue for 2020FY decreased by 4.7% year-on-year, down to RUR 180,908 mn. The reason for the decrease was lower revenue from electricity (-13.5%). The operating performance decline resulted from decreased electricity consumption, as well as relatively warm weather and shorter heating period in 2020.

Operating costs for 2020FY decreased year-on-year by 3.9% down to RUR 172,235 mn.

EBITDA amounted to RUR 30,472 mn (+23.9% year-on-year) due to decreasing of net charge for impairment and other provisions in 2020.

Mosenergo Group IFRS profit for 2020FY decreased by 16.2%, down to RUR 8,045 mn.