Company Announcements

ROSSETI's IFRS 1Q2019 net profit increases by almost 23% up to 40.8 bn RUB

PJSC ROSSETI (LSE:RSTI), discloses the IFRS consolidated financial results of the electricity transmission and distribution holding company for the 1 quarter, ended March 31, 2019.

ROSSETI made a net profit of 40.8 billion rubles, up 22.9% year-on-year, this in fact will allow for company to pay dividends for 1Q2019. Management has already provided Board of Directors with appropriate recommendation. The revenue amounted to 265.5 billion rubles vs. 260.3 billion rubles in the first 3 months of 2018. EBITDA grew by 20.9% reaching 95 billion rubles in 1Q 2019.

"Our company is steadily strengthening its financial position. These are the results of the work that was started 2 years ago. We aim to keep strong positive momentum, while implementing ambitious strategy for digital transformation of power grid, particularly in areas of technological and business processes. We also aim to implement improvements to regulatory environment that will promote economic growth of Russian power grid sector." - commented Pavel Livinsky, PJSC "Rosseti" Director General on the results of first quarter's consolidated financial statement.

More detailed information on the IFRS consolidated financial statements for the period ended March 31, 2019 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/ 

For further information:            

PJSC ROSSETI           

Maria Stepanova, Head of IR                                                 +7(495) 995 5333 (ext. 3961)

Yulia Martynova, IR                                                                 +7(495) 995 5333 (ext. 3834)

 Horizon

Maria Novokreschenova                                                                               +7 (495) 225 0335

Yaroslav Gryaznov                                                                                          +7 (495) 225 0335 (ext. 1010)

Public Joint Stock Company ROSSETI (PJSC ROSSETI) is one of the largest electric grid companies in the world. The Company manages 2.35 million kilometers of power lines and 507,000 substations with more than 792 GVA of transformer capacity. The number of the ROSSETI Group's employees is 217 thousand.

ROSSETI comprises 35 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.