31 May 2018 07:53
ROSSETI Beats its Own IFRS High Score
May 31, 2018. Moscow, Russia - PJSC ROSSETI (LSE:RSTI), discloses today the IFRS consolidated financial results of the electricity transmission and distribution holding company for the 1 quarter, ended March 31, 2018.
Based on the results of 3 months of 2018, ROSSETI made a net profit of 32.9 billion rubles, up 39.4% year-on-year. The revenue amounted to 260.3 billion rubles vs. 230.6 billion rubles in the first 3 months of 2017. EBITDA grew by 16.9% reaching 78.9 billion rubles in 1Q 2018, while net cash flow from operating activities totaled 56.6 billion rubles (up by 15.5%).
The results were achieved on the account of a set of measures, aimed at power grid efficiency enhancement. The set includes improved quality and workforce productivity, increased reliability indices - SAIDI and SAIFI, as well as countermeasures to electricity commercial loss.
More detailed information on the IFRS consolidated financial statements for the period ended March 31, 2018 can be found via the National Storage Mechanism at: http://www.morningstar.co.uk/uk/NSM or on the Company's website http://www.rosseti.ru/
* * *
For further information please contact:
PJSC ROSSETI
Maria Stepanova Yulia Martynova | +7 495 995 5333 (ext. 3961) +7 495 995 5333 (ext. 3834) |
Horizon
Maria Novokreschenova Yaroslav Gryaznov | +7 495 225 0335 +7 495 225 0335 (ext. 1010) |
Public Joint Stock Company ROSSETI (PJSC ROSSETI) is one of the largest electric grid companies in the world. The Company manages 2.34 million kilometers of power lines and 502,000 substations with more than 781 GVA of transformer capacity. The number of the ROSSETI Group's employees is 215,000.
ROSSETI comprises 36 subsidiaries and dependent companies, including 15 interregional grid companies and one transmission grid company. The controlling shareholder with an 88.04% stake in the Company is the government represented by the Federal Agency for State Property Management of the Russian Federation.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of PJSC ROSSETI. You can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might", the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industry, as well as many other risks specifically related to PJSC ROSSETI and its operations.