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RAO ES of East 9-month RAS net profit down 23.97 times

October 28, 2015
RAS net profit of RAO Energy System of East, PJSC for 9 months 2015 plummeted 23.97 times to RUB 191.007 million from RUB 4.578 billion for the same period in 2014, the company reported.

Revenue increased by 81.18% to RUB 1.678 billion from RUB 926.392 million, sales loss decreased by 38.79% to RUB 153.374 million from RUB 250.586 million, pre-tax profit dropped 11.34 times to RUB 409.997 million from RUB 4.651 billion.

Public Joint Stock Company "RAO Energy System of East" (RAO ES East, PJSC, tax number: 2801133630) was established on July 1, 2008 as a result of the restructuring of RAO UES of Russia. As of June 18, 2014, JSC RusHydro owned 84.39%, Atonline Ltd. 3.75% in RAO ES East. The company owns blocks of shares in power companies of the Far East such as: Far Eastern Energy Management Company, JSC (FEEMC), JSC Far Eastern Energy Company (FEEC), JSC Yakutskenergo, JSC Magadanenergo, JSC Kamchatskenergo, JSC Sakhalinenergo. Besides, RAO ES East owns blocks of shares in Peredvizhnaya Energetika JSC and some non-core companies of RAO UES of Russia transferred to the Holding under the dividing balance sheet.

IFRS net loss of RAO Energy System of East Group for H1 2015 was RUB 4.807 billion against a profit of RUB 1.263 billion the year before. Revenue (adjusted for state subsidies) grew by 7.45% to RUB 86.672 billion from RUB 80.661 billion, loss from operations was RUB 532 million against a profit of RUB 4.227 billion for the same period in 2014, loss before tax amounted to RUB 4.651 billion against a profit of RUB 1.441 billion. EBITDA decreased 2.08 times to RUB 4.178 billion from RUB 8.688 billion.

According to AK&M Information Agency's DataCapital information retrieval system, RAS net loss of RAO ES East, PJSC for H1 2015 was RUB 439.145 million against a profit of RUB 6.668 billion the year before. Revenue decreased by 0.18% to RUB 685.77 million from RUB 687.013 million, sales loss grew by 62.37% to RUB 151.713 million from RUB 93.435 million, loss before tax was RUB 332.63 million against a profit of RUB 6.708 billion for the same period in 2014.
Company — RAO UESR
  • Full name
    Open Joint Stock Company RAO UES of Russia
  • Registration country
    Russia
  • Industry
    Power