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8 800 220-0-220 Contact CenterPJSC "MOESK" demonstrates record growth in profit according to IFRS according to the results of 6 months of 2019
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26.08.2019
"Rosseti Moscow Region" Company (PJSC "MOESK", ticker MSRS on the Moscow Exchange), a member of the PJSC "Rosseti" Group of Companies providing electric power transmission services in Moscow and the Moscow Region, publishes consolidated financial results in accordance with International Financial Reporting Standards (IFRS) for 6 months of 2019.
The main results:
Revenues in the first half of 2019 increased by 1.2% to 78.5 billion rubles.
EBITDA in the first half of 2019 increased by 16% and amounted to 21.8 billion rubles.
EBITDA margin increased by 3% to 27.7%.
According to the results of the 1st half of 2019, net profit amounted to 5.9 billion rubles (+ 59% compared to the 1st half of 2018).
million rubles
| Financial performance | 6 months 2019 | 6 months 2018 | 6 months 2019 / 6 months 2018 |
| Revenue | 78 506 | 77 550 332 | 1,2% |
| Power transmission | 74 528 | 72 877 387 | 2,3% |
| - technological connection | 2 747 | 2 928 | (6,2%) |
| - non-tariff services * | 1 231 | 1 745 251 | (29,5%) |
| Operating expenses | (69 974) | (69 983) | (0,0%) |
| EBITDA | 21 773 | 18 778 | 16,0% |
| Net profit (loss) | 5 886 | 3 661 | 58,8% |
* including rental income
“The results of the first half of 2019 have been record-breaking for"MOESK" since 2013. This confirms the effectiveness of the development strategy chosen by the Company. Management intends to take all necessary actions to maintain this positive trend and achieve targeted financial indicators for the end of 2019, ”commented the results of the first half of the First Deputy General Director of PJSC "MOESK" for financial and economic activities and corporate governance Vladimir Myasnikov.
For reference only:
The following subsidiaries are included in the consolidated financial statements of the Group: JSC "MOESK-Engineering", JSC "Plant for the repair of electrical equipment", JSC "Energy Center".
The consolidated interim financial statements of PJSC "MOESK" under IFRS for the 3 and 6 months ended June 30, 2019 are available on the corporate website of the Company and are available at: https://www.moesk.ru/upload/iblock/14b/MSFO-6m-2019ru.pdf