On December 10, 2015 the Board of Directors of PJSC “MOESK” approved the Business plan including the investment program and information on the key operational risks for 2016.

A draft of an adjusted investment program of the Company for 2017-2021 and estimated figures of the Business plan for 2017-2020 will be considered at a meeting of the Board of Directors in Q1 2016 taking into account decisions on the tariffs and revision of the net electricity supply figures.

The Business plan of the Company for 2016 includes the investment program approved by Order of the Ministry of Energy of the Russian Federation No. 735 dated 16.10.2014.

Against the background of restriction of the tariffs growth and inflationary pressure on the prime cost and reduction in electricity consumption, in 2016 PJSC “MOESK” expects increase in EBITDA operating revenue to RUB 45.4 billion (+ 10.9% from the expected actual figure for 2015 and net profit to RUB 9.7 billion (+5.3% of the expected actual figure for 2015. This result is planned to be achieved through successful implementation of the programs on reducing the operating costs and electric power losses.

As a part of the further works on reduction of losses, in 2016 it is expected that the losses will be reduced down to 6.8 billion kWh (- 10.3% of the expected actual figure for 2015.

The Company plans 25% of the net profit in the form of dividends for 2016 according to the approved Business plan continuing the practice of previous years (if there is a positive resolution of the General Meeting of Shareholders of PJSC “MOESK” on their payment).

Basic financial indicators 2015-2016

IndicatorUOMExpect. actual figure for 2015
Plan 2016
Revenue (total)RUB million132,897143,966
from electric power transmissionRUB million120,263132,158
from grid connectionRUB million11,28710,000
from other activitiesRUB million1,3471,808
Prime cost (total)RUB million116,524125,584
Non-controllable costs, including:RUB million84,57191,534
purchased electricity for loss compensatioRUB million13,46713,777
services of PJSC FGC UERUB million14,97916,401
Services of regional grid companieRUB million31,89435,079
Controllable costsRUB million31,95334,050
EBITDARUB million40,96745,421
Net profitRUB million9,2249,717
Debt on loans and creditsRUB million73,41778,708
Debt/EBITDA 1.81.7