1H2019 IFRS results

23 August 2019

6M2019 revenues stands at RUB 59,770.9 million (+ RUB 16,608.1 million or 38.5% YoY), the increase being driven by the Company’s operations as the provider of the last resort in the Sverdlovsk and Chelyabinsk regions from 01.04.2018 (former service area of AO Roskommunenergo), 01.07.2018 (former service area of PAO Chelyabenergosbyt) and 01.08.2018 (former service area of NUESK), respectively.

6M2019 operating expenses totaled RUB 55,918.9 million (+RUB 17,449.0 million or 45.4% YoY), the rise being mainly affected by PoLR-related costs as well as increased payments to grid operators.

6M2019 result from operating activities reached RUB 2,845.9 million (6M2018: RUB -1,067.4 million). 6M2019 profit before income tax amounted to RUB 2,404.4 million (6M2018: RUB -1,289.9 million).

Profit for the period totaled RUB 1,870.6 million (6M2018: RUB -1,207.0 million). Total comprehensive income for the period is RUB 1,755.6 million (6M2018: RUB -772.1 million).

Table 1. 6M2018-2019 Financial Highlights of OAO IDGC of Urals, RUB thous.

 

6M2019

6M2018

Revenue, incl.

59 770 871

43 162 750

Electricity transmission

27 771 149

33 132 238

Electricity sales

31 446 276

9 398 445

Connection services

397 179

434 141

Operating expenses

(55 918 852)

(38 469 840)

Result from operating activities

2 845 859

(1 067 436)

Profit/(Loss) before income tax

2 404 390

(1 289 930)

Profit/(Loss) for the period

1 870 588

(1 206 965)

Total comprehensive income for the period

1 755 561

(772 138)

Please, visit “Financial Information” section of the official web-site to review our 6M2019 IFRS financial statements.

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