JSC Russian Grids will publish its IFRS financial result for H1 2013 on August 29, the company informed.
JSC Russian Grids (OJSC IDGC Holding until April 4, 2013, tax number: 7728662669) is a company operating in the electric power sector of the Russian Federation combining inter-regional distribution grid companies, research and design institutes, building, construction and sales organizations. About 100 branches of Russian Grids are located in 69 constituents of the Russian Federation. The property asset of Russian Grids includes blocks of shares in 42 joint-stock subsidiaries and affiliates including stakes in 16 inter-regional distribution grid companies. The grids owned by Russian Grids' operational subsidiaries are over 2.1 million km long. Russian Grids' companies operate electric grids of ten grades with voltage ranging from 0.4 to 220 kV.
The property complex of Russian Grids includes stakes in 42 subsidiaries and affiliates including shareholdings in 16 inter-regional and regional grid companies. The controlling shareholder of Russian Grids is the Russian Federation whose equity position reaches 61.7%. Also, pursuant to the RF President's Decree dated June 14, 2013, the state-owned block of shares in OJSC FGC UES was contributed to the authorized capital of Russian Grids to complete the key stage of the structural reorganization process for the bulk transmission and distribution grid assets.
IFRS net profit of Russian Grids for 2012 dropped by 18.77% to RUB 31.654 billion from RUB 38.966 billion the year before. Revenue decreased by 2.04% to RUB 621.633 billion from RUB 634.608 billion, profit from operations by 16.14% to RUB 49.688 billion from RUB 59.254 billion, pre-tax profit by 17.78% to RUB 44.117 billion from RUB 53.655 billion in 2011. EBITDA grew by 0.6% to RUB 117.2 billion from RUB 116.5 billion.
According to the information and retrieval system DataCapital, RAS net profit of JSC Russian Grids for H1 2013 increased 2.11-fold to RUB 4.943 billion from RUB 2.337 billion the year before. Revenue grew by 45.92% to RUB 4.562 billion from RUB 3.127 billion, sales profit by 99.98% to RUB 3.629 billion from RUB 1.815 billion, pre-tax profit 2.05-fold to RUB 5.29 billion from RUB 2.577 billion.