On April 26, 2019, a meeting of the company's Board of Directors under the chairmanship of Pavel Livinsky, CEO was held at PJSC Lenenergo (part of the Rosseti Group).
Meeting agenda included consideration of the report on implementation of the 2018 Lenenergo business plan together with discussion of the program of electricity losses reduction activities.
"As of today, Lenenergo shows solid financial performance: at the end of the year, the company's net profit under IFRS amounted to 10.6 billion rubles, which is higher than in 2017 by 2.8 billion rubles. The company's revenue is growing, too. Portrayal of the effective activity was an increase of the credit rating of Lenenergo by the Analytical Credit Rating Agency up to the AAA(RU) level with a stable outlook. That is a really good result. I should also point out the success of Lenenergo concerning the optimization of costs and reduction of losses. It is necessary to carry on this work under the implementation of the digital transformation concept,” Pavel Livinsky, Rosseti CEO, said.
During the meeting, the members of the Board of Directors of Lenenergo approved the program of electricity losses reduction activities within the Lenenergo power grid for the period from 2019 to 2023. The Board of Directors appreciated the activities of the power grid company and confirmed implementation of planned figures.