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Guaranteeing suppliers of Inter RAO Group Announce RAS Financial Results for the First Six Months of 2020

Russian Power Generation Subsidiaries of Inter RAO Group Announce RAS Financial Results for the First Six Months of 2020

24 July 2020

* Financial results are available for the generation companies: JSC Inter RAO — Electric Power Plants, JSC Nizhnevartovskaya SDPP, Bashkir Generation Company LLC, JSC TGK-11, and JSC Tomsk Generation

The following key factors determined the operating and financial results of Russian power generation and heat production subsidiaries of Inter RAO Group:

  • A decrease in electricity and heat consumption in the UES of Russia by 3.4% due to higher air temperatures, 22% growth in the volume of electricity generated by HPP resulted from the high-water hydrological situation in May-June 2020, and due to restrictions imposed in Q2 2020 to halt COVID-19 spread;
  • Decommissioning of three power units from 1 January 2020 and a generator from 1 May at the Kashirskaya SDPP with the total capacity of 980 MW, as well as decommissioning of a generator at the Iriklinskaya HPP with the capacity of 7.5 MW;
  • Marketing of the capacity of leased facilities of LLC Kaliningrad Generation (power generating units of Mayakovskaya, Talakhovskaya and Pregolskaya TPPs);
  • An increase in fuel prices.

Financial results of the power generation subsidiaries:

Indicator * Inter RAO — Electric Power Plants Nizhnevartovskaya SDPP
H1 2020 Change YoY H1 2020 Change YoY

Revenue

89.7

(16.6%)

9.2

3.2%

Production cost

62.9

(18.1%)

6.5

(4.3%)

Sales profit

25.4

(14.4%)

2.4

31.2%

Net income

22.1

(17.4%)

2.1

5.4%

Electricity output, billion kWh

28.8

(28.8%)

5.4

(7.4%)

Heat distribution from collectors, million Gcal

2.4

(1.1%)

0.1

(13.9%)

* - Billion rubles unless indicated otherwise

Operating and financial results of the heat generation subsidiaries:

Indicator * «Bashkir Generation Company» «TGK-11» «Tomsk Generation»
H1 2020 Change YoY H1 2020 Change YoY H1 2020 Change YoY

Revenue

24.6

(8.4%)

10.1

(7.4%)

3.6

(10.8%)

Production cost

19.4

(8.8%)

7.5

(9.3%)

3.2

(5.4%)

Sales profit

4.6

(8.0%)

2.4

(1.7%)

0.2

(52.8%)

Net income/ loss

3.3

(40.8%)

1.9

(4.0%)

0.2

-

Electricity output, billion kWh

9.5

(10.8%)

3.0

(5.2%)

0.9

(5.6%)

Heat distribution from collectors, million Gcal

8.0

(5.2%)

4.4

(11.2%)

2.3

(13.0%)

* - Billion rubles unless indicated otherwise

For more details on RAS financial results of generation subsidiaries of Inter RAO Group in H1 2020, please visit their official websites:

«Inter RAO — Electric Power Plants» and Nizhnevartovskaya SDPP «Bashkir Generation Company» «TGK-11» «Tomsk Generation»

Press release

Press release

Press release

Press release

Statements for H1 2020

Statements for H1 2020

Statements for H1 2020

Statements for H1 2020

Operating results

Operating results

Operating results

Operating results

 

Next material:

PJSC Inter RAO UES and Saint Petersburg concluded a long-term cooperation agreement
Consolidated
financial statements
prepared according to
IFRS
1H 2020
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 30.9 GW of installed power generation capacity.

www.interrao.ru