Date: 4 weeks ago   Category: Energy

The net profit of FGC according to IFRS in the II quarter has decreased by 14,4% — to 18,9 billion rubles — Rambler News Service


The net profit of the FGC UES energy company according to the International Financial Reporting Standards (IFRS) was reduced in the II quarter 2018 by 14,4% in comparison with an indicator for the same period of last year — to 18,907 billion rubles, follows from the reporting of the company. In January-June net profit has grown by 29,5% and has made 39,869 billion rubles. The revenue of the company in the II quarter has increased by 9,6% and has made 56,797 billion rubles. Operating expenses have increased for 26,6% — up to 37,723 billion rubles. Profit before the taxation was reduced by 16,3% and has made 22,908 billion rubles. The revenue of FGC in January-June, 2018 has increased by 15,6% and has made 117,456 billion rubles. Revenue for services in power transmission has made 104,9 billion rubles that is 15,7% higher than an indicator of last year. Revenue for works on the contract contracts executed by subsidiaries of FGC has made 4,3 billion rubles (growth in comparison with an indicator for the same period of 2017 — 13,2%). Proceeds from sales of the electric power have made 6 billion rubles, growth by 50% is explained mainly by increase in volumes of realization of the electric power by subsidiary of FGC. Revenue for services in technological accession has made 0,1 billion rubles, decrease in revenue by 1,6 billion rubles in comparison with the same period of last year is connected with the schedule of rendering services determined by applications of consumers. Operating expenses have increased for 35% — up to 76,15 billion rubles. Growth of operating expenses is caused by growth of expenses on the purchased electric power for production needs and increase in the property tax. Profit before the taxation in the first half of the year was reduced by 17,5% and has made 49,217 billion rubles. At the same time the corrected net profit has decreased by 7,4% — up to 39,9 billion rubles. The corrected indicator of EBITDA has decreased by 1,4% — up to 69,2 billion rubles. Decrease in the corrected EBITDA has happened due to reduction of income on penalty fee and penalties on 0,6 billion rubles and decrease in financial income (generally because of reduction of dividends on stocks of Inter RAO) on 0,4 billion rubles.

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