27.06.2018
printable version
RSS

RusHydro’s Board of Directors approves interim report on execution of business plan and investment program for the first quarter of 2018

June 27, 2018. Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that the Company's Board of Directors held a meeting in absentia on June 25, 2018.


***


The Board of Directors approved the report on interim results of business plan execution for 2018, including the actual results of the first quarter, of PJSC RusHydro (excluding subsidiaries included in RusHydro Group), as well as the report on execution of investment program and comprehensive modernization program of generating facilities.


In the first quarter of 2018 PJSC RusHydro’s electricity generation increased by 12.6% and reached 17.7 TWh. Revenue increased by 45% and reached RUB 40 bn while EBITDA increased by 11% to RUB 20.7 bn.

PJSC RusHydro’s electricity output was 15.5% above plan in the first quarter.


Investment program and comprehensive modernization program financing amounted to RUB 4.04 and RUB 2.61 bn, respectively.


The installed capacity of Novosibirskaya HPP increased by 5 MW following rerating of the equipment in the scope of comprehensive modernization program.


***


The Board of Directors approved the report on execution of PJSC RusHydro’s comprehensive procurement program for the first quarter of 2018. The Company has carried out 833 procurement procedures in the first quarter, 99% in electronic format.


***


The Board of Directors approved the report on the results of the committees for the period of 2017-2018:


***


The Board of Directors also took into consideration the update on progress status of three priority projects in the Far East (Yakutskaya GRES-2 (1st phase), CHPP in Sovetskaya Gavan’ and Sakhalinskaya GRES-2 (1st phase)) as of March 31, 2018.


***


The Board of Directors approved signing the agreement on transfer of the automobile bridge over the river Khussa without compensation to Zelenchuksky Municipal District of Karachay-Cherkessia. Having no effect on the Company’s operational performance, the facility is classified as a none-core asset. It was built during construction of Zelenchukskaya HPP and is now a part of the public transportation infrastructure of the region.


***


The Board of Directors approved the Provision on the updated version of PJSC RusHydro’s business planning system.


***

The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
Your application has been accepted. The answer will be prepared and sent within 20 calendar days. ok