RELEASE
August 7, 2020
Moscow
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.
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