5 Mar 2021 10:00
Rosseti announces its 2020 RAS financial results
Moscow, 05 March 2021 - PJSC ROSSETI ("ROSSETI" or "the Company", Moscow Exchange, LSE: RSTI), managing subsidiaries and affiliates in the field of transmission and distribution of electricity, announces its financial results for 2020 under the Russian Accounting Standards (RAS).
The Company's RAS statements are prepared on a standalone basis and do not include the results of ROSSETI's subsidiaries or affiliated companies that operate as independent legal entities.
The Company's revenue at the end of 2020 amounted to RUB 15.8 billion. The change in ROSSETI's revenue in 2020 compared to 2019 is due to reflection of the interim dividends of subsidiaries and affiliates' income in 2019. Excluding this factor, revenue in 2020 increased by 8.2%.
Net profit at the end of 2020 amounted to RUB 29.5 billion. The net profit excluding the revaluation of financial investments amounted to RUB 12.3 billion.
Cost of sales decreased by 5.4% and amounted to RUB 4.4 billion.
The Company's net assets reached RUB 496.8 billion, exceeding the authorized capital by RUB 295.9 billion.
Key financial indicators
Item, mln RUB | 2020 | 2019 | Change, % |
Revenue | 15,753 | 39,435 | (60.1) |
Revenue adjusted for dividends | 3,437 | 3,177 | 8.2 |
Cost of sales | (4,405) | (4,658) | (5.4) |
Net profit (loss) | 29,546 | 135,245 | (78.2) |
Net profit excluding revaluation of financial investments | 12,335 | 37,426 | (67.0) |