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PJSC Inter RAO has released its financial statements under RAS for 2017

Guaranteeing suppliers of the Inter RAO Group published RAS financial statements for 2017

* Reporting is provided for the following marketing companies - guaranteeing suppliers: PJSC Mosenergosbyt (MES), JSC Saint Petersburg Power Supply Company (PSK), PJSC Saratovenergo, JSC Altayenergosbyt, PJSC Tomskenergosbyt, PJSC Tambov Energy Retail Company (Tambov ESC), Energy Retail Company of Bashkortostan LLC (ESCB)

Key factors determining the dynamics of the operating and financial indicators of the guaranteeing suppliers of the Inter RAO Group are as follows:

  • Entering the perimeter of the Energy Retail Group of Bashkortostan in December 2016;
  • Growth in average capacity purchase prices in most regions of presence of the Group's guaranteeing suppliers as a result of an increase in the capacity purchase prices in the more expensive sectors of the Wholesale Electric Energy Market;
  • Growth in the cost of grid companies’ services due to the indexation of electricity transmission services tariffs;
  • Expansion of the geography of presence and conclusion of new energy supply contracts with legal entities and individuals, including those in Moscow and the Moscow region, and continued work on receiving subscribers from outside organizations, including those deprived of the status of guaranteeing supplier;
  • Development of the additional services segment;
  • A number of large consumers’ entrance into the Wholesale Electric Energy Market.

Operational and financial results of the guaranteeing suppliers’ activities:

Indicator Mosenergosbyt PSK Saratovenergo Altay-energosbyt Tomsk-energosbyt Tambov ESC ESCB
2017 Change 2017 Change 2017 Change 2017 Change 2017 Change 2017 Change 2017 Change
Revenue 326.2 12.2% 126.6 10.3% 21.5 17.0% 13.3 3.4% 12.9 (4.6%) 6.0 16.9% 37.3 9.9% 
Operating expenses 322.1 12.4% 125.4 10.1% 21.1 17.6% 13.0 1.9% 12.3 (6.9%) 5.9 16.1% 35.9 10.0% 
Profit / loss from sales 4.1 (0.7%) 1.2 31.9% 0.4 (6.7%) 0.3 3.0 times 0.6 85.4% 0.03 -  1.4 8.0% 
Net profit / loss 3.0 4.3 times 1.3 125.3% 0.01 94.1% 0.004 10.8% 0.001 - 0.0002 82.1%  0.6 24.3% 
Volume of electricity sold, bln kWh 86.6 2.0% 36.1 0.2% 6.3 4.0% 4.3 0.7% 4.3 (21.7%) 1.5 3.5% 13.6 0.7% 

* - in billion rubles, unless otherwise indicated

More details on the results of the sales companies’ activities - guaranteeing suppliers of the Inter RAO Group following the results of 2017 in accordance with RAS can be found on the official websites of the companies:

Mosenergosbyt PSK Saratovenergo Altayenergosbyt Tomskenergosbyt Tambov ESC ESCB
Press Release Press Release Press Release Press Release Press Release Press Release Press Release
Reporting for 2017 Reporting for 2017 Reporting for 2017 Reporting for 2017 Reporting for 2017 Reporting for 2017 Reporting for 2017

Next material:

Russian power generation companies of Inter RAO Group published the RAS Financial Results for 2017
Consolidated
financial statements
prepared according to
IFRS
for 3Q 2017
View report

Reference

Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The Group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business.

The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market, and Russia's leading electric utility by energy efficiency. Inter RAO Group owns and operates approximately 32 GW of installed power generation capacity.

www.interrao.ru