The Rosseti Centre company published its financial statements for 1Q 2025 under RAS, EBITDA increased by 5,6%

According to the prepared in accordance with the Russian Accounting Standards statements for 1Q 2025, revenue of Rosseti Centre, PJSC (the ticker – MRKC) was 36 932,9 mln RUB, including from electric energy transmission – 34 839,2 mln RUB, from grid connections – 1 285,3 mln RUB and other revenue – 808,4 mln RUB. Sales profit was 5 908,4 mln RUB. Earnings before interest, taxes, depreciation and amortization (EBITDA²) increased by 5,6% up to 9 486,6 mln RUB. Net profit amounted to 2 914,4 mln RUB.

Data in million RUB, unless specified otherwise

^[1] Revenue net of cost of sales, selling and administrative expenses

^[2] EBITDA is calculated as follows: Profit before tax + Interest payable + Depreciation

^[3] Net debt is calculated as follows: long-term borrowed funds + short-term borrowed funds – cash and cash equivalents – short-term financial investments

^[*] Taking into account the volume of services for the transmission of electricity in the territory of execution of the functions of the electricity supplier of last resort in the Tver region in the service area of JSC Transservisenergo

The volume of electricity transmission services was 12 801,0 million kWh, which is 5,0% less compared to the same period last year due to changes in the power consumption modes of large consumers, as well as the weather factor due to fluctuations in ambient temperature relative to the same period last year. The result of the implementation of a set of organizational and technical measures was a reduction in the level of electricity losses to 11,40% of the supply to the grid (by 0,37 p.p.).

The revenue from electricity transmission services in the 1st quarter of 2025 increased by 8,1% compared to the same period in 2024 due to the growth of tariffs approved by the territorial bodies of the FAS Russia in the regions of the Company’s operations. The revenue from grid connection services for 3 months of 2025 increased by 47,4% compared to 3 months of 2024 due to the growth of revenue in the category up to 150 kW, as well as the execution of large grid connection contracts in the Tver and Yaroslavl regions. The other revenue for the first quarter of 2025 compared to the first quarter of 2024 increased by 1,2% and amounted to 808,4 mln RUB. The increase in the revenue from the sale of other activities is due to the completion of large projects, including the reconstruction of the Company’s power grid facilities at the initiative of third parties.

The cost of sales increased relative to the 1st quarter of 2024 by 9,3% and amounted to 30 630,3 mln RUB. The increase in the costs is mainly due to inflationary pressure, as well as an increase in the tariff for electricity transmission services in networks of third-party territorial grid organizations and in the UNPG.

The Company’s management is making every effort to maintain production efficiency and financial stability, which allowed keeping the financial result at the level of the previous year in the first quarter of 2025, despite the increase in the income tax rate from 20 to 25%. The EBITDA margin was 25,7%, and the net profit margin was 7,9%.

The Company’s total assets as of 31 March 2025 increased 1,6% and amounted to 160 756,7 mln RUB. The Company’s net assets were 67 938,9 mln RUB (+4,5%). The net debt³ decreased by 8,0% to 28 091,4 mln RUB.

The Company’s statements for 1Q 2025 can be found at: https://mrsk-1.ru/en/information/statements/rsbu/2025/.