According to IFRS, the Rosseti group's net profit for 9 months of this year has increased up to 81 billion rubles
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According to IFRS, the Rosseti group's net profit for 9 months of this year has increased up to 81 billion rubles

According to IFRS, the Rosseti group's net profit for 9 months of this year has increased up to 81 billion rubles 29.11.2017

November 29, 2017 Moscow, Russia - According to IFRS, Rosseti (LSE: RSTI) announces interim (unaudited) financial results of the Rosseti group for the first 9 months of 2017.

The group's consolidated revenue from January to September of this year has amounted to 658.1 billion rubles, which is 5.9% more than it was in the same last year's period. The EBIDTA index number has increased to 213.1 billion, compared with 203.6 billion a year earlier. The Rosseti group's net profit has increased by 2.6 billion rubles to 81 billion rubles.

The implementation of a set of measures to reduce costs and increase the effectiveness of the group is being continued. In the accounting period, operating expenses in real terms have decreased compared to the same last year's period.

"Rosseti continues to work on the solution of the company's issues, the priority of which are ensuring high-quality and reliable electricity supply to consumers, modernizing and increasing the efficiency of the grid complex through introducing digital technologies, as well as creating attractive conditions for investors and shareholders," said Evgeny Olkhovich, Deputy General Director for Strategic Development of Rosseti.

According to IFRS, the main financial index numbers of the Rosseti group for the 9 months of 2017 are as follows:

  • Revenues: 658.1 billion rubles (9 months of 2016: 621.2 billion rubles)
  • EBITDA: 213,1 billion rubles (9 months of 2016: 203.6 billion rubles)
  • Adjusted EBITDA [1]: 231.7 billion rubles (9 months of 2016: 200.8 billion rubles)
  • Net profit: 81,02 billion rubles (9 months of 2016: 78,4 billion rubles
  • Adjusted net profit [2]: 98.4 billion rubles (9 months of 2016: 73,7 billion rubles)
  • Net cash flow from operating activities: 138,6 billion rubles (9 months of 2016: 113,1 billion rubles)

For more information on the consolidated financial accounts for the period ending September 30, 2017, see National Storage Mechanism or the company's website.


[1] Adjusted EBITDA is calculated as EBITDA (profit in the accounting period before tax, interest expense and amortization), excluding impairment losses and impairment of receivables, losses/revenues from restructuring the Rosseti's group of companies

[2] Adjusted net profit in the accounting period is calculated as net profit in the accounting period, excluding impairment losses and impairment of receivables, and related to them deferred income tax expenses, losses/revenues from restructuring the Rosseti's group of companies


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