June 30 at the Russian Grids annual meeting the holders decided to pass the 2013-dividends due to the losses, the company informed.
The new editions of the internal documents were approved; Ernst & Young being affirmed as an auditor. The 15-member BOD was elected.
Russian Grids (former MRSK Holding, TIN 7728662669) is working in the energetic sector. It involves 47 subs including the stakes of 11 interregional dispatching grid companies. The share capital was formed on the basis of the additional capital and retained profit of UES due to the distribution balance. The stocks of all dispatching network companies held by UES were transferred to MRSK Holding. The networks cover 2.1mln km.
The share capital is worth 43.116bn rub. split in 41041753984 common and 2075149384 preferred stocks of 1 rub. par each. The government has 61.7%.
The latter contributed the state-held stake in FSK UES into the share capital of Russian Grids.
The 2013 net losses (IAS) gained 159.389bn rub. vs. 43.855bn rub. in profit prior year; revenues moved up 16.5% to 759.779bn rub. from 652.183bn rub.; operating losses reached 148.821bn rub. vs. 91.077bn rub. in profit; pretax losses - 190.401bn rub. vs. 59.608bn rub. in profit; corrected EBITDA rose 10.31% to 233.2bn rub. from 211.4bn rub.
In IQ 2014 net profit dropped 10.97 fold to 66.46mln rub. from 728.881mln rub.; revenues rallied up 40.99% to 645.92mln rub. from 458.13mln rub.
The 2013 net profit (RAS) rallied up 80.76 fold to 250.338bn rub. from 3.1bn rub. prior year period; revenues moved up 32.07% to 6.099bn rub. from 4.618bn rub.; profit from sales - 41.17% to 2.895bn rub. from 2.051bn rub.; pretax profit boosted 94.58 fold to 250.046bn rub. from 2.644bn rub.