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  • PJSC «IDGC of North-West» has published the consolidated IFRS financial statements for the year ended 30 June 2017. Profit for the period amounted 681 million rubles

PJSC «IDGC of North-West» has published the consolidated IFRS financial statements for the year ended 30 June 2017. Profit for the period amounted 681 million rubles

22.08.2017

The consolidated 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 items, million rubles
The  items
for the six months ended 30 June
  2017
2016
Revenue
24,121
22,080
Including:
 
 
- Power transmitting
20,012
18,263
- Sale of electricity
3,232
3,341
- Connection to power network
510
142
Expenses
(23,006)
(21,139)
Profit for the period
681
417
Property, plant and equipment
34,770
35,219
Accounts receivable and prepayments
13,133
14,172
Loans
14,823
14,793
EBITDA
3,689
3,292
 
The revenue for the six months ended 30 June 2017 amounted to 24,121 million rubles, including the revenue from power transmitting in amount 20,012 million rubles, sale of electricity in amount 3,232 million rubles, connection to power network in amount 510 million rubles.
 
The revenue for reporting period increased by 2,041 million rubles (9%)  in comparison with the similar period of 2016, including due to increase of the revenue from power transmitting by 1,749 million rubles (10%). This difference caused by the growth of tariffs for power transmitting within the forecast of the social and economic development Russian Federation and the volume growth of provide service e.g. the lead-in a new capacities by consumers. The revenue from connection to power network is increased by 368 million rubles (a more 3 of times) caused by drawing up act of major transaction for connection to power network which includes third work stage of contract Lukoil-Komi,Ltd  about carrying-out connection to power network the oil production facilities of Yarega oil and titanium deposit  (337 million rubles).
 
Expenses is increased balanced growth of revenue 1 867 million rubles (9%).
 
Non-current assets of Company’s asset profile as of 30 June 2017 comprise 70% and 96% (34,770 million rubles) from it is property, plant and equipment.
 
Major relative share in the structure of current assets (83%) dominates accounts receivable (13,133 million rubles). Amount of accounts receivable decreased as at 30 June 2017 as compared to 30 June 2016 by 1,039 million rubles (7%) caused by conclusion the direct contract for power transmitting and performed effective claim-related work.
 
Major relative share of liabilities dominates loans and borrowings (49%) that amounted 14,823 million rubles to the end of the reporting period. Amount of accounts payable decreased by 678 million rubles (7%) mainly due to repayments to suppliers and contractors. 
 
As a result for the six months ended 30 June 2017 profit amounted to 681 million rubles.
 
EBITDA (earnings before tax, depreciation, interest paid and received) amounted to 3,689 million rubles.
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.
 
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