Rosseti Triples Its RAS Net Profit in 1H 2019

Rosseti Triples Its RAS Net Profit in 1H 2019 31.07.2019

ROSSETI Company (MOEX: RSTI) is presenting its financial performance in the first 6 months of 2019, under RAS.

The net profit has almost tripled, to RUB 123.1 billion, taking into account the revaluation of the subsidiaries' shares (vs RUB 42.3 billion y-o-y). Rosseti's revenues exceeded RUB 25 billion.

The revaluation is non-monetary and is held according to the requirements of Russian law. The net profit came to RUB 24.0 billion, net of the revaluation of financial investments, a 3% increase y-o-y.

The indicators point to the stable development of the operator of one of the world's biggest power grid systems. 

"The Company's management takes efforts to modify business processes in order to enhance the operating efficiency of Rosseti itself and the entire power grid system. The deliverables confirm the selected strategy is correct," noted Mr. Pavel Livinskiy, Rosseti's CEO.

The comprehensive report on Rosseti's financial performance for the first 6M 2019 is available in the respective section in Rosseti's official website.

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