Federal Grid Company of Unified Energy System (MOEX: FEES)

FEES Income Statement

Financials in millions RUB. Fiscal year is January - December.

Fiscal Year	TTM	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Sep 30, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Operating Revenue	246,841	237,304	249,611	253,979	242,186	255,603
Revenue	246,841	237,304	249,611	253,979	242,186	255,603
Revenue Growth (YoY)	-2.17%	-4.93%	-1.72%	4.87%	-5.25%	36.66%
Fuel & Purchased Power	42,563	36,979	37,805	44,670	30,653	33,784
Operations & Maintenance	3,298	3,835	3,885	3,288	2,587	2,039
Selling, General & Admin	8,021	7,835	9,805	8,845	7,022	8,407
Depreciation & Amortization	42,824	39,604	36,463	32,346	28,428	39,397
Amortization of Goodwill & Intangibles	1,487	1,360	1,405	1,154	1,220	1,330
Provision for Bad Debts	18	-655	-156	3,194	-3,813	2,666
Other Operating Expenses	68,620	65,181	59,339	56,609	63,256	60,560
Total Operating Expenses	166,831	154,139	148,546	150,106	129,353	148,183
Operating Income	80,010	83,165	101,065	103,873	112,833	107,420
Interest Expense	-5,349	-5,827	-5,850	-4,001	-3,983	-6,278
Interest Income	5,383	5,823	4,739	5,930	7,721	6,771
Net Interest Expense	34	-4	-1,111	1,929	3,738	493
Income (Loss) on Equity Investments	163	142	144	125	28	-327
Currency Exchange Gain (Loss)	-247	-273	-93	-33	-45	-165
Other Non-Operating Income (Expenses)	5,435	6,159	6,791	5,320	4,846	-751
EBT Excluding Unusual Items	85,395	89,189	106,796	111,214	121,400	106,670
Gain (Loss) on Sale of Investments	-	-	-62	-	-	-
Gain (Loss) on Sale of Assets	-1,561	-1,561	9,350	310	-1,145	11,940
Asset Writedown	-12,549	-12,549	-6,727	2,248	-11,121	-38,155
Insurance Settlements	667	667	339	551	893	531
Legal Settlements	-	-	-	778	-	-2,502
Pretax Income	71,952	75,746	109,696	115,101	110,027	78,484
Income Tax Expense	16,331	16,356	23,058	22,256	22,210	10,102
Earnings From Continuing Ops.	55,621	59,390	86,638	92,845	87,817	68,382
Minority Interest in Earnings	-11	-11	-40	-36	-73	-223
Net Income	55,610	59,379	86,598	92,809	87,744	68,159
Net Income to Common	55,610	59,379	86,598	92,809	87,744	68,159
Net Income Growth	-25.57%	-31.43%	-6.69%	5.77%	28.73%	52.25%
Shares Outstanding (Basic)	1,260,938	1,260,938	1,260,938	1,260,938	1,260,938	1,260,938
Shares Outstanding (Diluted)	1,260,938	1,260,938	1,260,938	1,260,938	1,260,938	1,260,938
EPS (Basic)	0.04	0.05	0.07	0.07	0.07	0.05
EPS (Diluted)	0.04	0.05	0.07	0.07	0.07	0.05
EPS Growth	-25.57%	-31.43%	-6.69%	5.77%	28.73%	52.25%
Free Cash Flow	27,175	30,993	43,919	35,129	33,797	32,604
Free Cash Flow Per Share	0.02	0.02	0.03	0.03	0.03	0.03
Dividend Per Share	0.016	0.016	0.018	0.016	0.016	0.014
Dividend Growth	69.93%	-11.86%	14.11%	0.68%	11.68%	7.10%
Profit Margin	22.53%	25.02%	34.69%	36.54%	36.23%	26.67%
Free Cash Flow Margin	11.01%	13.06%	17.59%	13.83%	13.95%	12.76%
EBITDA	122,414	122,264	136,905	136,462	141,459	147,569
EBITDA Margin	49.59%	51.52%	54.85%	53.73%	58.41%	57.73%
D&A For EBITDA	42,404	39,099	35,840	32,589	28,626	40,149
EBIT	80,010	83,165	101,065	103,873	112,833	107,420
EBIT Margin	32.41%	35.05%	40.49%	40.90%	46.59%	42.03%
Effective Tax Rate	22.70%	21.59%	21.02%	19.34%	20.19%	12.87%

Source: S&P Capital IQ. Utility template. Financial Sources.