2020-04-30 14:45:00
RUSHYDRO PROFIT +14%
RUSHYDRO - April 29, 2020. Moscow, Russia. PJSC RusHydro (MOEX, LSE: HYDR; OTCQX: RSHYY) announces non-consolidated financial results under Russian accounting standards (RAS) for the first quarter ended March 31, 2020.
Key highlights:
- EBITDA – RUB 24,358 mn (+25%);
- Reported net profit – RUB 14,315 mn (+14%);
- Since July 1st 2017, a surcharge to capacity prices in 1st and 2nd price zones in order to attain base level of end-user tariffs in the Far East of Russia is reflected in PJSC RusHydro’s revenue and operating expenses[1]. In 1Q20, the surcharge totaled RUB 10,264 mn, in the 1Q19 – RUB 8,748 mn; Adjusted for the surcharge revenue and expenses (here and below in the text) were:
- Revenue – RUB 34,653 mn (+19%);
- Operating expenses – RUB 14,684 mn (+7%).
Key financials for 1Q 2020 under RAS (in RUB mn), excluding surcharge
|
1Q’20 |
1Q’19 |
chg |
Revenue (adj. for surcharge) |
34,653 |
29,081 |
+19% |
Operating expenses (adj. for surcharge) |
(14,684) |
(13,733) |
+7% |
Operating profit |
19,969 |
15,348 |
+30% |
EBITDA[2] |
24,358 |
19,440 |
+25% |
Net profit |
14,315 |
12,537 |
+14% |
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