MOESK IFRS net profit down 25.6% to 9.4 bln rubles in 2016
MOSCOW. March 17 (Interfax) - MOESK's net profit to International Financial Reporting Standards (IFRS) totaled 9.394 billion rubles in 2016, down from 12.63 billion rubles in 2015, the company said in a report.
Revenue increased 8.3% to 143.3 billion rubles, including 128.6 billion rubles from electricity transmission, up 9.3%, and 10 billion rubles from technical connections, down 4.5%. Operating expenses increased 18% to 131.6 billion rubles.
As of December 31, 2016, the company's long-term liabilities stood at 93.9 billion rubles, down 0.7%, while short term liabilities totaled 72 billion rubles, up 16.6%.
In January and February 2017, the company received funds from loan agreements with Sberbank for a total sum of 4.6 billion rubles and paid back a tranche of 14.9 billion rubles to Sberbank in February.
