PJSC «IDGC of North-West» has published the consolidated interim condensed IFRS Financial Statements for the nine months ended 30 September 2016 (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 2016, million rubles
|
The measures
|
9 month 2016
|
9 month 2015
|
|
Revenue, including
|
32,122
|
30,179
|
|
Power transmitting
|
26,568
|
24,167
|
|
Sale of electricity
|
4,729
|
5,181
|
|
Connection to power network
|
323
|
311
|
|
Operating expenses
|
31,432
|
29,209
|
|
Profit for the period
|
97
|
294
|
|
EBITDA
|
4,309
|
4,620
|
|
|
|
|
|
The measures
|
30/09/2016
|
31/12/2015
|
|
Non-current assets. Property, plant and equipment
|
35,027
|
35,474
|
|
Accounts receivable and prepayments
|
13,519
|
15,500
|
|
Long-term loans and borrowings
|
11,696
|
9,941
|
|
Current loans and borrowings
|
3,641
|
5,204
|
The revenue for the nine months ended 30 September 2016 amounted 32,122 million rubles, including 26,568 million rubles (83%) is revenue from power transmitting, 4,729 million rubles – the revenue from sale of electricity, 323 million rubles (1%) - the revenue from connection to power network.
There is overall increase of revenue by 6 percent or 1,943 million rubles in comparison with the similar period of 2015 by reason of the growth of revenue from power transmitting up 2,401 million rubles (10%) by the change of card gopher payments in Murmansk region and the growth electric power consumption by industrial enterprises in regions. The revenue from connection to power network in comparison with the similar period of 2015 is increased by 4% or 12 million rubles.
Non-current assets of Company’s asset profile is 70% (35,027 million rubles) and 96% from it is property, plant and equipment.
Major relative share in the structure of current assets (85%) dominates accounts receivable (13,519 million rubles). The reduction of this measure by 1,981 million rubles (13%) in comparison with the similar period of 2015 because cash inflow on the ground of final court judgment from major debtors - PJSC “Arkhangelsk energy retail Company”, OJSC “Vologda energy retail Company”, OJSC “Kondopoga”.
Total net borrowing as at 30 September 2016 amounted 15,338 million rubles (long-term loans and borrowings – 11,696 million rubles and current loans and borrowings – 3,641 million rubles). Essential changing of borrowed funds structure due to the substitution short-term loans into long-term.
The structure of current liabilities allocates as follows: accounts payable and advances received – 69% (10,486 million rubles), current loans and borrowings – 24% (3,641 million rubles), current taxes payable –7% (990 million rubles). Total decreasing of accounts payable and advances receive amounted 1,517 million rubles (13%) at that payments to suppliers and contractors amounted 2,592 million rubles and increasing of advances customers by 1,153 million rubles.
As a result the nine months ended 30 September 2016 profit amounted to 97 million rubles (profit similar period of 2015 - 294 million rubles).
EBITDA amounted to 4,309 million rubles that lower the level of the similar period of 2015 by 7%.
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
