MAIN FINANCIAL HIGHLIGHTS (millions of RUB)
|
Q1 2021 |
Q1 2020 |
Change |
Revenues |
12,289 |
12,052 |
+2.0% |
EBITDA |
2,451 |
3,326 |
-26.3% |
EBIT |
1,997 |
2,387 |
-16.3% |
Net income |
1,570 |
1,456 |
+7.8% |
Net debt at the end of the period |
15,678 |
13,697[2] |
+14.5% |
“Our 1Q 2021 financial results are driven by rebounding electricity market on the backdrop of optimization actions resulting in the company’s gradual growth of financials. However, we are now passing the turning point of transition period that obliges us to be more conservative in our forecasts.”
– Stephane Zweguintzow, General Director of Enel Russia
Moscow, April 29th, 2021 – PJSC Enel Russia has published its unaudited financial results for Q1 2021 in accordance with the International Financial Reporting Standards (IFRS).
These factors compensated to a major extent the expiration of payments under Capacity Supply Agreements for the CCGT units at Nevinnomisskaya and Sredneuralskaya GRES and their transfer to the KOM market starting from 2021.
OPERATIONAL HIGHLIGHTS
|
Q1 2021 |
Q1 2020 |
Change |
Net power production (GWh) |
5,513 |
4,777 |
+15.4% |
including: |
|
|
|
- gas output |
5,513 |
4,777 |
+15.4% |
- wind output |
- |
- |
- |
Power sales (GWh) |
6,177 |
5,561 |
+11.1% |
Heat sales (thousand Gcal) |
1,479 |
1,302 |
+13.6% |
In more details, all power plants raised the production due to higher loading by the System Operator in the European Russia and Urals (the first price zone), and specifically:
- Conventional gas units’ output significantly increased by 23.4%, mostly caused by higher demand in the system due to colder weather conditions, and coupled with limited supply due to lower output of hydro facilities compared to Q1 2020.
- Combined cycle units’ output was almost in line with last-years’ figures increasing by 0.5%, on stable loading over the period.