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ROSSETI'S NET PROFIT UNDER IFRS INCREASED BY 23% TO 40.8 BILLION RUBLES IN QUARTER 1

 
27.05.2019 10:06

ROSSETI Company (LSE:RSTI) discloses IFRS consolidated financial results of the power grid holding for the first quarter of 2019.

The IFRS net profit of Rosseti Group amounted to 40.8 billion rubles which is 22.9% more than the same period last year - it will allow the company to pay dividends for the first quarter of 2019. Management came up with appropriate recommendations for the Board of Directors of PJSC ROSSETI. The revenue amounted to 265.5 billion rubles against 260.3 billion rubles for the first quarter of 2018. The EBIDTA index number has increased by 20.9% over the same period last year and amounted to 95 billion rubles.

“The company keeps on enhancing its financial stature. This is the result of work we started two years ago. Our goal is to maintain a stable positive dynamics by implementing a large-scale digital transformation strategy for the power grid complex in technological and business processes sphere, as well as modifications in the regulatory environment aimed at the facilitation of economic growth of the country's power grid industry”, Pavel Livinsky, Rosseti CEO, commented on the results of the consolidated financial statement for first quarter of 2019.

The full statement of the holding is now available in the corresponding section on the official website of Rosseti.