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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