PJSC «IDGC of North-West»’ profit for the nine months ended 30 September 2015 amounted 294 million rubles

PJSC «IDGC of North-West» has published the consolidated interim condensed IFRS Financial Statements for the nine months ended 30 September 2015 (Unaudited).

The consolidated interim condensed IFRS financial statements include PJSC «IDGC of North-West» and the following subsidiaries: OJSC «Pskovenergoagent», OJSC «Pskovenergosbyt», OJSC «Lesnaya skazka», OJSC «Energoservice North-West».

 

 

 

 

 

 

 

 

 

 

The main measures for the nine months ended 30 September 2015, million rubles

 

The revenue for the nine months ended 30 September 2015 amounted 30,182 million rubles, including 24,167 million rubles (80%) is revenue from power transmitting. The revenue from connection to power network amounted 311 million what increased by 37% in comparison with the similar period of 2014.

 

General reduction of  the revenue (by 3,790 million rubles) and in the operating expenses (by 4,303 million rubles) in comparison with the similar period of 2014,  this is because the cessation of business of  sale of electricity by the status of guaranteeing electric power supplier in Murmansk Region.

 

Non-current assets of Company’s asset profile is 65% (34,833 million rubles) and 96% from it is property, plant and equipment.

 

Major relative share in the structure of current assets (83%) dominates accounts receivable (15,811 million rubles). The main debtors are energy retail companies (OJSC “Arkhangelsk energy retail Company”, OJSC “Vologda energy retail Company”, OJSC “Komi energy retail Company”).

 

Major relative share of non-current liabilities dominates long-term loans and borrowings (72%) what amounted  11,089 million rubles to the end of the report period including bonded loan gross volume 5,000 million rubles.

 

The structure of current liabilities allocates as follows: accounts payable and advances received – 56% (11,148 million rubles), current loans and borrowings – 36% (7,324 million rubles), current taxes payable – 4% (886 million rubles).

 

As a result the nine months ended 30 September 2015 profit amounted to 294 million rubles (profit similar period of 2014 - 94 million rubles).

 

EBITDA amounted to 4,715 million rubles that exceeds the level of the similar period of 2014 by 11%.

 

For more details about financial results of PJSC «IDGC of North-West» you can find the official report, published at the address – http://www.mrsksevzap.ru/en/ifrsfinancialstatements

 

PJSC «IDGC of North-West» - Interregional Distribution Grid Company of North-West is controlling interest in PJSC «Russian Grids» (previous to JSC «IDGC Holding»). It is provides for power transmitting for voltage networks from 110 to 0.4 kilovolt. Company performs connection to power network activity customers to networked infrastructure onsite Northwestern Federal District under seven branches.