27 August 2021, Moscow, Russia - PJSC ROSSETI (LSE: RSTI) (“Company”), Russia’s largest electricity transmission, distribution, and connection grid company, discloses interim condensed unaudited consolidated financial results under IFRS for the six months ended 30 June 2021.
Revenue: RUB 537.5 bln (6m 2020: RUB 482.3 bln)
EBITDA : RUB 176.9 bln (6m 2020: RUB 146.9 bln)
Net profit: RUB 71.3 bln (6m 2020: RUB 50.6 bln)
Electricity transmission: 391.7 bln kWh (6m2020: 366.7 billion kWh)
Number of substations: 528.2 thousand units (6m2020: 517.0 thousand units)
Transformer capacity: 809.0 GVA (6m2020: 802.0 GVA)
Length of transmission lines: 2.4 million km (6m2020: 2.37 million km)
Key events in the reporting period:
Andrey Ryumin was elected as Director General and Chairman of the Management Board of PJSC ROSSETI.
The annual General Meeting of PJSC Rosseti Shareholders was held.
More than 20 agreements have been concluded within the framework of SPIEF.
Electricity power supply to the ROSSETI Group's customers in 6M 2021 increased by 6.8% compared to the same period in 2020.
The Russian Government approved Long-term development programme of PJSC ROSSETI and its subsidiaries up to 2030.
The new Innovative Development Programme of PJSC ROSSETI was approved.
The Analytical Credit Rating Agency (ACRA) has confirmed the credit rating of PJSC ROSSETI and its bonds at AAA (RU) with a "stable" outlook.
Rosseti Group was included in the Forbes Top 10 ranking “30 most eco-friendly companies in Russia”.
|RUB bln||RUB bln||%|
* As of 31.12.2020
Rosseti Group's revenue for 6M2021 increased by RUB 55.2 bln (+11.4% YoY) and was driven by:
Increase in revenue from electricity transmission services due to tariff indexation, increase in electricity consumption and gradual recovery of economic activity of consumers in the regions where the Group operates.
Increased revenue from services of technological connection is associated with the service schedule determined by customers’ applications.
Increased revenue from electricity sales due to increased energy consumption.
Growth in other revenue mainly from construction services.
|RUB bln||RUB bln||%|
|Electricity transmission services||84.4||78.2||7.9|
|Purchased electricity for own needs||81.1||71.0||14.2|
|Electricity for sale||28.3||24.4||16.0|
|Taxes and levies||14.1||13.6||3.7|
|Other operating expenses||166.2||155.8||6.7|
|Total operating expenses||447.3||411.7||8.6|
The increase in the operating expenses is mainly due to higher expenses for purchased electricity for own needs and for purchased electricity for sale.
"Rosseti Group demonstrates positive dynamics of its key financial indicators for the second quarter in a row. This is facilitated by the measures taken by the Company to improve efficiency as well as the general recovery of business and social activity in the country. Stable financial indicators allow forming a solid foundation for fulfilling obligations to connect consumers, build and modernize grid facilities," said Andrey Ryumin, Director General of PJSC ROSSETI.
Rosseti’s condensed unaudited consolidated interim IFRS financial statements for the six months ended June 30, 2021 are available on the Company's website at: https://www.rosseti.ru/eng/investors/reports/fin-inf/.
 EBITDA, calculated as earnings before interest, taxation, depreciation and amortisation.