Analysis of the results of financial and economic activity
In 2018, the proceeds from the sale of the Company's services amounted to 46,401.1 million rubles, which is 4,148.1 million rubles. (9.8%) more than in 2017, including:
- Revenue from electricity transmission was equal to 45,583.5 million rubles (by 4,097.8 million rubles more than in 2017); growth was triggered by:
- an increase in the volume of services rendered by 562 million kWh,
- with a change in the procedure for reimbursement to the Wholesale Market for Electricity and Power (WMEP) participants of the cost of load losses accounted for in the prices on the WMEP, as a result of which, which set up to calculate the revenue for electricity transmission services without deducting the specified value from August 1, 2017 (Clause 1b of the Resolution of the Russian Federation 07.07.2017 No. 810 "On Amendments to Certain Acts of the Government of the Russian Federation Regarding Payment for Electricity Losses on the Wholesale Electricity and Capacity Market and Retail Electricity Markets, and Obtaining the Status of a Subject of the Wholesale Electricity and Capacity Market");
- Proceeds from technological connection services amounted to 602.5 million rubles, which is 45.5 million rubles less than in 2017.
The cost price (including management expenses) in 2018 amounted to 41,616.9 million rubles, which is 3,247.9 million rubles. (8.5%) more than in 2017 The increased costs are due to the rise in the price of purchased electricity to compensate for losses, expenses for services of PJSC FGC UES, services of distribution grid companies, depreciation of fixed assets and intangible assets.
Profit before tax amounted to 1,279.8 million rubles, which is 112.1 million rubles (9.6%) more than in 2017.
The Company's net profit in 2018 amounted to 151.2 million rubles (by 374.1 million rubles (71.2%) below the level of 2017).
| + | increase in revenue from sales of services by 4,148.1 million rubles (9.8%), including due to the rise in revenue from electricity transmission services for 2018 by 4,097.8 million rubles (9.9%) relative to the parameters of the previous year, while revenue from technological connection services decreased by 45.5 million rubles (7.0%); |
| - | increase in cost, with account for 3,247.9 million rubles of management expenses (8.5%), relative to the parameters for the same period of 2017; |
| - | deterioration of the balance of other income and expenses from profits by 787.99 million rubles (29%) relative to the parameters of 2017; |
| - | increase in income tax by 486.2 million rubles in comparison with the parameters of the same period in 2017; |
| Seq No. | Indicator | 2018 | 2017 | 2016 |
|---|---|---|---|---|
| 1 | Proceeds from sales of products (services), including: | 46,401 | 42,253 | 41,726 |
| 1.1 | from power transmission | 45,583 | 41,486 | 39,262 |
| 1.2 | from technological connection | 602 | 648 | 2,381 |
| 1.3 | from the sale of electricity | 0 | 0 | 0 |
| 1.4 | from other activities | 215 | 119 | 83 |
| 2 | Cost of products (services) | –41,461 | –38,259 | –35,830 |
| 3 | Gross profit | 4,940 | 3,994 | 5,896 |
| 4 | Administrative expenses | –155 | –110 | –98 |
| 5 | Selling costs | 0 | 0 | 0 |
| 6 | Profit (loss) from sales | 4,784 | 3,884 | 5,798 |
| 7 | Interest receivable | 82 | 47 | 90 |
| 8 | Interest payable | –1,911 | –1,907 | –1,889 |
| 9 | Income from participation in other organizations | 9 | 0,3 | 0 |
| 10 | Other income (total) | 2,575 | 2,393 | 2,616 |
| 11 | Other expenses (total) | –4,259 | –3,249 | –3,109 |
| 12 | Profit (loss) before tax | 1,280 | 1,168 | 3,506 |
| 13 | Profit tax and other payments | –1,129 | –642 | –1,366 |
| 14 | Net profit | 151 | 525 | 2,141 |
| 15 | EBITDARegulation for payment of remuneration and compensation to members of the Auditing Commission of Kubanenergo PJSC is published on the website – section. | 7,158 | 6,847 | 9,015 |