Date: 3 months ago   Category: Energy

MOEK in 2018 increased net profit according to IFRS more than by a third — Rambler News Service


The Moscow United Energy Company (MUEC) increased net profit according to the International Financial Reporting Standards (IFRS) in 2018 by 36.3% in comparison with an indicator of the previous year — to 9.21 billion rubles, follows from the reporting of the company. Following the results of 2017 the indicator was 6.759 billion rubles. The revenue of the company was 162.841 billion rubles for the reporting period, having increased in comparison with a similar indicator of 2017 by 12.9%. Operating expenses for the reporting period made 144.73 billion rubles that is 8.4% more than an indicator the previous year. Growth of operating expenses is generally connected with increase in volume of realization of thermal energy. The indicator of EBITDA grew by 20.9% — to 26.579 billion rubles. Profit before taxation was for the reporting period 12.181 billion rubles against 8.51 billion rubles the previous year (growth by 43.1%). In the reporting it is also said that on March 6, 2019 MOEK placed exchange bonds of series 001P-01 of 5 billion rubles. The release includes 5 million securities with a par value of 1 thousand rubles everyone. Circulation period of bonds makes 6 years, on release the offer in 3 years from start date of placement is provided. The interest rate is 8.65% per annum. MOEK — the infrastructure company which provides heating and hot water supply of Moscow and Moscow area. The enterprise is engaged in production, transportation, distribution and sale of thermal energy and also generates electric energy. The controlling shareholder of the company is Gazprom energoholding.

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