About Company

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Federal Grid Company is the operator and manager of Russia’s unified electricity transmission grid system, including high voltage transmission lines, and holds the status of a natural monopoly.

The Company’s assets include more than 139 thousands km of transmission lines with capacity up to 1,150 kV (PTL) and 931 substations with more than 334 GVA. Based on the length of transmission lines and installed transformer capacity, Federal Grid is the largest publicly traded electricity transmission company in the world.

Federal Grid’s business is to provide electricity transmission and technological connection services. It maintains and develops the grid system and supervises grid facilities and infrastructure in 77 Russian regions, covering a territory of 15.1 million square kilometres. Its customers are regional distribution companies, electricity suppliers and large industrial enterprises.

The Company is a natural monopoly with 80.13% stake controlled by Russian Grids.

Federal Grid Company’s common shares are included on Moscow Exchange under the ticker FEES and the Company’s GDRs are listed on the London Stock Exchange and traded under the same FEES symbol.

In 2015 the Company’s IFRS consolidated revenue was RUB 187,041 million, while adjusted EBITDA was RUB 109,700 million, and profit for the period was RUB 44,098 million.


Key Production Indicators

Indicator 2011 2012 2013 2014 2015
Number of substations* 854
891
919
924
931
Transformer capacity (MVA)* 322,533
334,797
332,009
332,133
334,501
Total transmission grid length, thousand km* 124.6
131.6
135.1
138.8
139.1
Electricity supply to customers (million kWh)
509,287
517,131
519,983
515,250
525,769
Electricity losses within UNEG (million kWh)
22,553
21,946
22,262
21,261
23,478
Declared capacity (MW)
90,937
90,492
91,398
90,887
87,920

* owned, managed or operated by Federal Grid Company


Key financial indicators (IFRS), RUB million

Indicator 2011 2012 2013 2014 2015
Revenue
139,571
140,313
157,970
175,968
187,041
Adjusted EBITDA** 83,760
82,732
92,551
107,676
109,700
Adjusted operating profit*** 46,614
34,119
30,877
55,449
60,079
Profit for the period
48,988
7,238
(234,771)
(20,601)
44,098
Adjusted profit for the period****
38,241
30,150
23,405
40,844
   46,379
Total comprehensive income
14,020
5,315
(360,437)
21,602
47,848
Net debt85,232168,002223,995220,099222,903
Market capitalization351,163253,905114,60056,11174,861

*Adjusted EBITDA is calculated as EBITDA adjusted to exclude impairment loss on property, plant and equipment, reversal of impairment loss on property, plant and equipment, revaluation loss on property, plant and equipment, impairment of promissory notes, impairment of available-for-sale investments, one-off gain on disposal of available-for-sale investments, loss on re-measurement of assets held for sale, reversal of impairment of investments in associates, and to include finance income.

**Adjusted operating profit is calculated as operating profit adjusted for impairment loss on property, plant and equipment, reversal of impairment loss on property, plant and equipment, revaluation loss on property, plant and equipment, one-off gain on disposal of available-for-sale investments, loss on re-measurement of assets held for sale.

***Adjusted profit for the period is calculated as profit / (loss) / for the period adjusted for impairment loss on property, plant and equipment, reversal of impairment loss on property, plant and equipment, revaluation loss on property, plant and equipment, impairment of promissory notes, impairment of available-for-sale investments, one-off gain on disposal of available-for-sale investments, loss on re-measurement of assets held for sale, reversal of impairment of investments in associates, including respective deferred income tax.

The audited consolidated IFRS financial statements of FGC UES Group are available on the Company's web site, along with the Management Report, www.federal-grid.com and are also available at the link http://www.fsk-ees.ru/eng/investors/financial_disclosure/ifrs_financial_reports/.