31 Oct 2018 16:34

Fortum Russia boosts net profit 11.6% in 9M 2018

CHELYABINSK. Oct 31 (Interfax) - PJSC Fortum boosted net profit to Russian Accounting Standards (RAS) 11.6% year-on-year to 9.745 billion rubles, the company said in reporting.

Revenue was up 12.9% and totaled 52.47 billion rubles.

Cost of sales increased 15.7% to 37 billion rubles, operating profit was up 6.7% to 15.4 billion rubles.

Fortum financial highlights ('000 rubles):

9M 2018 9M 2017
Revenue 52 469 956 46 488 739
Cost of sales 37 023 515 32 010 197
Gross profit 15 446 441 14 478 542
Operating profit 15 446 441 14 478 542
Pre-tax profit 12 335 693 11 223 724
Net profit 9 744 953 8 731 447

The company's receivables declined from 19.471 billion rubles at the end of 2017 to 17.182 billion rubles on September 30, 2018. Payables decreased from 6.452 billion rubles to 5.982 billion rubles.