On April 6, 2018, Russia’s biggest company in electricity transmission and distribution Rosseti announced its IFRS consolidated financial results for the Rosseti group of companies for 2017.

The group’s consolidated revenues in 2017 came to RUB948.3 billion, a figure reflecting a 5.3-percent increase on 2016. The net profit rose almost 40 percent to RUB137.1 billion year-on-year. The group’s profitability reached 14.5 percent, a 3.6-percentage-point increase over 2016.

The EBITDA amounted to RUB313.7 billion, an 18.3-percent increase year-on-year. The net-debt-to-EBITDA ratio decreased from 1.8 in 2016 to 1.5 in 2017. In 2017, the group’s assets advanced 6.3 percent, to RUB2,409.4 billion, largely due to the commissioning of new facilities as part of Rosseti’s investment program. As of December 31, 2016, the group’s assets were valued at RUB2,266.7 billion. The group’s net debt fell 3.3 percent and came to RUB456.2 billion as of December 31, 2017. The debt stood at RUB471.9 billion on December 31, 2016.

The company’s revenue increases from electricity transmission and the reduction of operating expenses had a positive impact on its overall financials.

In 2017, the Rosseti group of companies continued to display stable growth in the principal profitability and financial stability indicators, all while ensuring unconditional power supply reliability and service availability to consumers. To support the financial stability of Rosseti’s subsidiaries, the group implemented its development plan over the course of 2017. “This resulted in positive trends for key financial and economic indicators of the Rosseti group,” noted Rosseti’s deputy general manager for economics Oksana Shatokhina.