EquityStory.RS, LLC-Ad-hoc: PJSC Mosenergo / Key word(s): Quarterly / Interim Statement PJSC Mosenergo Releases IFRS Financial Results for 1H 2019 12-Aug-2019 / 15:56 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EquityStory.RS, LLC - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. / *RELEASE* August 12, 2019 Moscow *Mosenergo Releases IFRS Financial Results for 1H 2019* Mosenergo releases interim abbreviated unaudited consolidated financial statements (prepared in accordance with IFRS) for the 6 months ended June 30, 2019. Consolidated Statement of Comprehensive Income 6M 2018 6M 2019 Key Figures, (mn RUR) Revenue 107,668 103,855 Operating Costs (88,491) (89,686) *Marginal profit(1)* *15,151* *17,247* Operating Profit 18,552 14,039 *EBITDA, adj. (2)* *26,797* *22,094* *Profit for the Period* *15,232* *12,730* (1) Calculated as "Revenue from electricity sales + Revenue from heat sales - Variable costs" (2) Adjusted to net charge for impairment and other provisions Mosenergo revenue for 6M 2019 decreased by 3.5% year-on-year down to RUR 103,855 mn. The reason for the decline was revenue from capacity sales decrease (-32.6%), on the back of capacity supply agreements expiry for three CSA units, as well as decreased revenue from heat sales (-5.8%) on the account of lower output for warmer weather in the report period. Operating costs for 1H 2019 amounted to RUR 89,686 mn, thus growing marginally by 1.4%, mainly on the account of fuel costs increase by 2.1%. EBITDA, adjusted to net charge for impairment and other provisions, for the report period decreased by 17.6%, down to RUR 22,094 mn). Mosenergo marginal profit in 1H 2019 amounted to RUR 17,247 mn, up by 13.8%, resulting from increased electricity output (+6.8%) and weighted average electricity price growth by 10.1%. Mosenergo IFRS profit for 1H 2019 decreased by 16.4%, down to RUR 12,730 mn. MOSENERGO PR DEPARTMENT Tel.: (495) 957-1-957, ext. 2282, 2290 Fax: (495) 957-37-99 ?-mail: press-centre@mosenergo.ru Website: http://www.mosenergo.ru [1] 12-Aug-2019 CET/CEST The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: PJSC Mosenergo Vernadskogo prospect, 101 bld. 3 119526 Moscow Russia Phone: +7 495 957 1 957 Fax: +7 495 957 32 00 E-mail: mosenergo@mosenergo.ru Internet: www.mosenergo.ru ISIN: US0373763087, RU0008958863 WKN: 899416 Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart; London, Moscow EQS News ID: 855941 End of Announcement EquityStory.RS, LLC News Service 855941 12-Aug-2019 CET/CEST 1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=60e2d5fbaac76f33242643f88872528a&application_id=855941&site_id=vwd&application_name=news
(END) Dow Jones Newswires
August 12, 2019 09:56 ET (13:56 GMT)