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PJSC “Quadra – Power Generation’s” H1 2016 Earnings Increased

PJSC “Quadra – Power Generation” has summed up the Company’s financial statements for the first half of 2016 according to Russian Accounting Standards (RAS).

During the reporting period, the earnings of PJSC “Quadra – Power Generation” amounted to RUR 24,671.9 mn, which is 13% higher than for the same period of 2015 (H1 2015: RUR 21,832.7 mn). The Company’s sales profit for the first half of the current year was RUR 2,226.6 mn, which is 12.8% higher than this index for the previous year (RUR 1,974.6 mn).

The earnings growth is largely due to the reorganization changes in the structure of PJSC “Quadra – Power Generation’s” operations, and switch to direct settlement of accounts with thermal energy consumers in a number of the attended regions.

The net profit for the first half of the current year amounted RUR 935 mn. The amount of the net profit is mainly due to the costs of the repair campaign and preparation of equipment for the winter, which are attributed to the 2nd half-year.

The assets of PJSC “Quadra – Power Generation” at June 30, 2016 amounted to RUR 65,837.2 mn; this is 0.6% higher than at the end of 2015 (at 31.12.2015 – RUR 66,201.8 mn).