ROSSETI shows stable profit growth throughout 2018
Based on the results of 9 months of 2018, PJSC ROSSETI (LSE: RSTI) made a net profit of 88.7 billion rubles, up 9.4% year-on-year.
The revenue amounted to 719.6 billion rubles vs. 656.3 billion rubles for 3 quarters of 2017.
EBITDA grew by 4% reaching 222.1 billion rubles in 9 months of 2018, while net cashflow from operating activities totaled 156.3 billion rubles (up by 13%).
"Business processes optimization on all levels, both production part and monetary policy, pays off. Starting with the first quarter of 2018, PJSC "Rosseti" are showing a steady growth of key financial figures. We intend to keep working on increasing the operative efficiency, with following priority areas of activity: digitization, productivity gain and fighting the business losses." - commented Pavel Livinsky, PJSC "Rosseti" Director General on the results of third quarter's consolidated financial statement.
More detailed information on the IFRS consolidated financial statements can be found via the National Storage Mechanism at: http://www.morningstar.co.uk/uk/NSM or on the Company's website http://www.rosseti.ru/
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Public Joint Stock Company ROSSETI (PJSC ROSSETI) is one of the largest electric grid companies in the world. The Company manages 2.34 million kilometers of power lines and 502,000 substations with more than 781 GVA of transformer capacity.
ROSSETI comprises 36 subsidiaries and dependent companies, including 14 interregional grid companies and one transmission grid company. The controlling shareholder with an 88.04% stake in the Company is the government represented by the Federal Agency for State Property Management of the Russian Federation.
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of PJSC ROSSETI. You can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might", the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industry, as well as many other risks specifically related to PJSC ROSSETI and its operations.
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