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PJSC Inter RAO Announces RAS Financial Results for the First Six Months of 2020

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

24 July 2020

* Reports are available for the following sales subsidiaries with the status of supplier of last resort: PJSC Moscow Power Supply Company (Mosenergosbyt), JSC Petersburg power supply company (PESC), PJSC Saratovenergo, JSC Altayenergosbyt (Altai power supply company), PJSC Tomskenergosbyt (Tomsk ESC), PJSC Tambov power supply company (Tambov ESC), and PSCB LLC (Power Supply Company of Bashkortostan)

The following key factors determined changes in operating and financial results of guaranteeing suppliers within Inter RAO Group:

  • Higher air temperatures in winter 2020 and suspension of operations due to restrictions imposed in Q2 2020 to halt COVID-19 spread;
  • Higher average costs ensuing from tariff indexation by the decision of regulating authorities;
  • Higher average cost of purchased capacity for the majority of sales subsidiaries;
  • Lower grid operator rates for the majority of sales subsidiaries.

Operating and financial results of guaranteeing suppliers:

Indicator * «Mosenergosbyt» PESC
H1 2020 Change YoY H1 2020 Change YoY

Revenue

180.9

(2.2%)

64.4

(17.1%)

Operating expenses

177.0

(2.5%)

63.6

(17.4%)

Sales profit

3.9

11.8%

0.9

14.8%

Net profit

2.4

(6.0%)

0.8

1.6%

Volume of electricity sold, billion kWh

42.9

(4.0%)

14.6

(22.8%)

* - Billion rubles unless indicated otherwise

Indicator * «Saratovenergo» «Altayenergosbyt» Tomsk ESC Tambov ESC Bashkortostan Power Sales Company
H1 2020 Change YoY H1 2020 Change YoY H1 2020 Change YoY H1 2020 Change YoY H1 2020 Change YoY

Revenue

10.5

(7.5%)

7.1

(4.8%)

7.2

1.0%

3.3

(0.5%)

20.5

(3.3%)

Operating expenses

10.3

(7.0%)

6.9

(6.2%)

6.9

(1.7%)

3.2

0.8%

19.6

(3.5%)

Sales profit

0.2

(27.6%)

0.2

78.9%

0.3

4.1 times

0.1

(43.3%)

0.9

1.5%

Net profit

0.01

(24.2%)

0.1

2.7 times

0.05

16.4%

0.01

(10.4%)

0.5

(2.3%)

Volume of electricity sold, billion kWh

2.8

(6.0%)

2.1

(6.7%)

2.2

(3.9%)

0.8

(0.3%)

6.6

(4.6%)

* - Billion rubles unless indicated otherwise

For more details on RAS operating results of the sales subsidiaries of Inter RAO Group that are guaranteeing suppliers in H1 2020, please visit their official websites:

«Mosenergosbyt» PESC «Saratovenergo» «Altayenergosbyt» Tomsk ESC Tambov ESC Bashkortostan Power Sales Company

Press release

Press release

Press release

Press release

Press release

Press release

Press release

Statements for H1 2020

Statements for H1 2020

Statements for H1 2020

Statements for H1 2020

Statements for H1 2020

Statements for H1 2020

Statements for H1 2020


Next material:

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