Resolutions of the Mar. 21, 2019 Board of Directors meeting

25 March 2019

On Mar. 21, 2019 the Board of Directors has conducted a mixed (F2F&in-absentia) Board meeting. During the meeting, directors have scrutinized and decided on the range of administrative and corporate issues. 

In the course of the meeting, the Board of Directors has scrutinized and adopted the Company’s FY2019 business plan, also covering investment program. The key parameters of the FY2019 business plan are as follows:

RUB million

FY2019

Forecast

For reference:

FY2018 Actual

Revenues

93,074

89,625

Expenses (plus commercial and administrative costs)

88,291

82,165

Net income

2,048

798

YE Debt

15,403

14,127

EBITDA

9,232

7,315

The Company’s FY2019 business plan incorporates the Jul. 01, 2018 transition to the regional “pie” scheme (when Chelyabenergo became the sole “pie” holder in the Chelyabinsk region) as well as termination of electricity sales operations by Chelyabenergo and Sverdlovenergo on Jul. 01, 2019 and Aug. 01, 2019 respectively.

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