Increased output in 2Q 2018, specifically from CCGT units, partly offset adverse market conditions
MAIN FINANCIAL HIGHLIGHTS (millions of RUB)
|
1H 2018
|
1H 2017
|
Change
|
Revenues
|
34,011
|
34,822
|
-2.3%
|
EBITDA
|
7,705
|
8,689
|
-11.3%
|
EBIT
|
5,581
|
6,935
|
-19.5%
|
Net income
|
3,391
|
4,300
|
-21.1%
|
Net debt at the end of the period
|
22,225
|
17,8891
|
+24.2%
|
As of December 31st, 2017
– Carlo Palasciano Villamagna, General Director of Enel Russia
Moscow, July 31st, 2018 – PJSC Enel Russia has published its reviewed 1H 2018 financial results in accordance with the International Financial Reporting Standards (IFRS).
Revenues declined, mainly reflecting:
Higher regulated sales with annual tariffs increase, as well as higher free capacity (KOM) sales due to indexation of KOM prices, only partially offset the aforementioned decline in revenues.
EBITDA also declined, in line with:
Lower fuel costs caused by lower electricity production partially offset the above decrease.
OPERATIONAL HIGHLIGHTS
|
1H 2018
|
1H 2017
|
Change
|
Net power output (GWh)
|
17,998
|
18,325
|
-1.8%
|
Power sales (GWh)
|
20,657
|
21,068
|
-2.0%
|
Heat sales (thousand Gcal)
|
2,753
|
2,841
|
-3.1%
|
Net power output declined, reflecting lower production of all units (except both CCGT units at Sredneuralskaya and Nevinnomiskaya) and in particular:
CCGT units recorded an increase in output, as both units were going through scheduled maintenance in 2Q 2017. This increase compensated the lower production from non-CCGT units, and improved the dynamics of the relevant power plants, and specifically:
Power sales were down due to the abovementioned factors of net power output.
Heat sales decreased slightly, mostly attributable to a reduction in the volumes sold by Sredneuralskaya.