Mosenergo's 9-month IFRS profit down 57.7%

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AK&M 10 November 2020 10:40

IFRS profit of Mosenergo for 9 months of 2020 decreased by 57.7% to RUB 5.3 billion from RUB 12.6 billion a year earlier, the company reported.

Revenue decreased by 8.4% to RUB 122.1 billion from RUB 133.37 billion, EBITDA by 18.9% to RUB 21.26 billion from RUB 26.2 billion, operating profit by 68% to RUB 4 billion from RUB 12.67 billion.

Mosenergo (tax number: 7705035012) is an electric power generating company of Russia using organic fuel. It annually consumes over 20 bcm of gas. Mosenergo operates power stations with the installed electric power of 12.8 thousand MW and the installed thermal power of 43.2 thousand Gcal/h. The company's power stations supply 60% of electric energy consumed in Moscow region and cover about 90% of Moscow's demand for heat (excluding the New Moscow territories).

The company's authorized capital is RUB 39,749,359,700. It consists of 39,749,359,700 common shares with a face value of 1 ruble each. Gazprom energoholding LLC (a wholly-owned subsidiary of PJSC Gazprom) is the controlling and managing entity of Mosenergo.