3M2020 RAS results

29 April 2020

3M2020 revenues totaled RUB 20,707.4 million (-RUB 8,472.8 million YoY).

A 29% reduction of revenues in 1Q2020 stems from the fact that in 1Q 2019 Rosseti Ural (new brand of OAO IDGC of Urals) acted temporarily as the provider of the last resort in the Sverdlovsk and Chelyabinsk regions in compliance with the federal legislation.

Pre-tax profit totaled RUB 694.8 million.

3M2020 net profit totaled RUB 525.4 million.

Table 1. 3M2019 and 2020 highlights of the Company, RUB thousand.

 

3M2020

3M2019

Total revenues

20,707,416

29,180,197

Total expenses (plus commercial and administrative costs)

19,095,441

26,737,257

Sales profit

1,611,975

2,442,940

Operating margin

7.8%

8.4%

Pre-tax profit

694,817

1,526,572

Net income

525,400

1,227,780*

Net margin

2.5%

4.2%

* 3M2020 statements show retrospective adjustments of the 3M2019 net profit due to the revisions of PBU 18/02 “Recognition of income tax expenses”, enforced since 01.01.2020.

To view 3M2020 accounting statements prepared under Russian Accounting Standards (RAS), please, visit our corporate web-site (Financial Statements section).

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