Inter RAO, PJSC
Russia
Central Federal District of the Russian Federation
Moscow
Top managers:
Shmykov Ivan Nikolaevich
Owners:
Rosneftegaz - 27,63%
Inter RAO Capital - 29,56%
FGC UES - Federal Grid Company of the Unified Energy System - 8,57%
free-float 34,24%
Performance indicators
2023: Net profit growth to RUB 135 billion
Net profit of Inter RAO in 2023 amounted to 135 billion rubles. This was announced in February 2024 by the chairman of the board of the company Boris Kovalchuk during a meeting with the president with Vladimir Putin.
Kovalchuk also noted that back in 2009, the company was unprofitable. The head of Inter RAO explained that he has been comparing the company's activities since 2009, since then an order was signed to consolidate a number of assets on the basis of the group.
According to Kovalchuk, Inter RAO's revenue increased from 68 billion rubles in 2009 to 1.35 trillion rubles in 2023. Operating returns increased from 11 billion to 180 billion rubles. According to Kovalchuk, by the end of 2023 the company had no debts and at the same time had a "serious stock of funds in its accounts." He noted that in 2024 the size of investments will be about 160 billion rubles.
Boris Kovalchuk did not specify by what accounting standards he cited data for 2023. According to BCS, the results under RAS for Inter RAO are unrepresentative, since they do not take into account the indicators of subsidiaries. The company did not disclose the final financial results under IFRS for 2021-2022.
According to RAS, Inter RAO's net profit in 2022 amounted to 31.17 billion rubles, which is 19.9% more than a year ago. The company's revenue during this time decreased by 28.7%, to 63.17 billion rubles.
Inter RAO is a diversified energy holding that manages assets in Russia, as well as in Europe and the CIS. The company is also the only Russian operator of electricity export and import.
The main shareholder of the company by the beginning of 2023 was Rosneftegaz (26.37%), Inter RAO Capital accounted for 29.56%. Another 8.57% at the end of 2021 belonged to PJSC Federal Grid Company - Rosseti (formerly FGC UES, now merged with PJSC Rosseti), and 34.24% was in free circulation (there are no more recent data on these shares by February 2024).[1]
2020: Decrease in revenue by 4.4%, to 986.3 billion rubles, net profit - by 7.9%, to 75.5 billion rubles
In 2020, Inter RAO's revenue under IFRS amounted to 986.3 billion rubles, a decrease of 4.4% compared to 2019. The net profit of the energy holding in comparison with these segments of time fell even more - by 7.9%, to 75.5 billion rubles.
The group's financial performance was negatively affected by a decrease in export supplies, a decrease in business activity amid the spread of coronavirus (COVID-19) infection, the expiration of capacity agreements (PDM, implies a return from the market of investments with a guaranteed yield), as well as the weakening of the ruble exchange rate .
The revenue of the Trading in the Russian Federation and Europe segment decreased by 23.2 billion rubles (30.7%) and amounted to about 52.5 billion rubles in 2020. The main decrease in sales volumes and prices occurred in the directions of Finland and Lithuania due to abnormally low prices on the Nord Pool exchange, formed under the influence of the COVID-19 pandemic on the economies of European countries, a warm winter in Northern Europe, high generation of renewable energy sources and, as a result, exceeding supply over demand during 2020. The depreciation of the ruble against the euro during 2020 made it possible to mitigate the impact of negative factors, the group noted.
The decrease in revenues in the segments "Electric Generation in the Russian Federation" and "Heat Generation in the Russian Federation" by 13.9 billion rubles (9.8%) and 3.6 billion rubles (4.6%), respectively, was due to the climatic factor.
From the reporting of Inter RAO it follows that the company's capital in 2020 increased by 63.3 billion rubles (11.5%) and amounted to 616.1 billion rubles. The growth is due to the recognition of net profit for the reporting period, partially offset by the effect of dividend distribution to shareholders.
At the end of 2020, Inter RAO's combined revenue amounted to 3,078,817 thousand rubles, which is 30% higher than the same indicator in 2019 (2,372,600 thousand rubles). The data includes the combined revenue of two Inter RAO insourcing companies with the following turnover for 2020: Inter Rao - IT LLC (2,616,660 thousand rubles), Inter Rao - Digital Solutions LLC (462,157 thousand rubles). In the ranking TAdviser "The largest IT-insourcing companies in Russia ," Inter RAO took 16th place.
Loans and loans to Inter RAO in 2020 decreased by 8%, to 3.1 billion rubles. Lease liabilities including shares in joint ventures increased by 34.3 billion rubles and amounted to 91.8 billion rubles.[2]
History
2024
Purchase of equipment manufacturer for TPP and HPP NPO Elsib
Inter RAO Group acquired 98.4% of the shares of the Novosibirsk NPO Elsib, one of the largest manufacturers of electric generating equipment for thermal, hydro- and nuclear power plants in Russia. The deal was completed in August 2024. Read more here
Appointment of Sergei Dregval as CEO
On March 15, 2024, the board of diretcors of Inter RAO PO elected a new general director. It will be Sergey Dregval. Read more here.
Inter RAO bought two energy sales companies from Rosseti for 5.9 billion rubles
At the end of February 2024, it became known that PJSC Inter RAO acquired two energy sales companies from PJSC Rosseti. The total value of these transactions amounted to approximately 5.9 billion rubles. Read more here.
Inter RAO bought the former joint venture Power Machines and Toshiba
In early February 2024, it became known about the sale of OOO SMTT.high-voltage solutions to Inter RAO Corporation. Information about the change of ownership is reflected in the Unified State Register of Legal Entities (USRUL). Read more here.
Inter RAO became a co-owner of a tourist cluster in Gelendzhik, estimated at 100 billion rubles
At the end of December 2023, the Russian energy company Inter RAO entered the project for the construction of a port infrastructure with marina and hotels in Gelendzhik. We are talking about the creation of a large tourist cluster, the cost of which is estimated at 100 billion rubles. Read more here.
2022
Purchase of Siemens Energy power engineering assets in Russia
Inter RAO acquired Russian assets in the field of mechanical engineering, which previously belonged to the German concern Siemens, including 65% in a joint venture with Power Machines - Modern Gas Turbine Technologies LLC. The deal was announced on October 14, 2022. The remaining 35% of the enterprise remained with Power Machines. Read more here.
Stopping electricity exports to the Baltic States
From May 22, 2022, the import of Russian electricity to Lithuania and other Baltic countries was stopped, the Lithuanian Ministry of Energy said. The European electricity exchange Nord Pool stopped trading in Russian electricity from its only importer in the Baltic countries - the Inter RAO group of companies. The decision was made against the background of the ongoing special operation of Russia in Ukraine.
2021: Inter RAO acquired a large developer of IT solutions for power for 9.7 billion rubles
Inter RAO Group in May 2021 announced the completion of the transaction to acquire a 100% stake in the authorized capital of the developer of solutions for automating the activities of enterprises in the energy sector "Sigma." Read more here.
2019
Inter RAO buys 25% in Russian Gas Turbines
In April 2019, Inter RAO announced that it had bought a 25% stake in Russian Gas Turbines from the United Engine Corporation (part of Rostec). The transaction amount amounted to approximately $250 million. The company now owns 50% in a joint venture with General Electric.
It was reported that the deal will allow Inter RAO to almost single-handedly master a gigantic 1.4 trillion rubles on the Program for the Modernization of Thermal Power Plants in Russia.
Shortly before that, the former curator of the program through the Ministry of Energy, Alexei Teksler, was appointed governor to Chelyabinsk.
The new curator, brother of Vladimir Putin's close friend Mikhail Manevich, Yuri, consistently defended the interests of Inter RAO in the supervisory board of the non-profit partnership Innovation in the Electric Power Industry (advisory body on the State Program). He also headed the working group on small power for many years under the Council for the Coordination of the Development of the Fuel and Energy Complex under the plenipotentiary in the Northwestern Federal District. The curator of this area at this time is Igor Sechin, Secretary of the State Commission for the Fuel and Energy Complex.
The institution, together with RT-Invest, joint venture LLC Unified National Data Operator
RT-InvestRostec On April 2, 2019, the Inter RAO Group and JSC (part of the state corporation) announced the creation of a joint venture "Unified National Data Operator" with an authorized capital of 2 million rubles on a parity basis. On the part of Inter RAO, the 50% of the Management Company during the formation of the joint venture was made by the company "." RN-Energo More. here
2013
As of September 2013, Inter RAO's activities cover:
- Production of electric and thermal energy
- Power sale
- International Energy Trading
- Engineering, export of power equipment
- Management of power distribution networks outside the Russian Federation
- The installed capacity of Inter RAO generating facilities is 33.5 GW.
- The volume of electricity generation in 2012 is 127.4 billion kWh.
Inter RAO generating assets:
- 37 thermal power plants and 9 mini-TPPs
- 13 hydroelectric power plants (including 9 small hydroelectric power stations)
- 2 wind farms
Inter RAO is a Russian electricity export-import operator. The geography of supplies includes, Finland,, Belarus,, Latvia,, Lithuania Ukraine Georgia South Azerbaijan Ossetia,,, and. Kazakhstan China Mongolia
2011: Rosatom transfers 7.3% of Inter RAO UES shares to Atomstroyexport
Rosatom Atomstroyexport CJSC "" (ASE) transferred 7.3% of the shares of Inter RAO UES OJSC to pay for the additional issue of ASE, a representative of the nuclear state corporation told RIA Novosti.
ASE received more than 712.5 billion shares of Inter RAO, the market value of this package is about 25.8 billion rubles.
The additional issue of ASE was registered on December 22, 2011 by the branch of the Federal Service for Financial Markets of the Central Federal District.
The decision to increase the authorized capital through an additional issue was made in November 2011 by an extraordinary meeting of Atomstroyexport shareholders.
The increase in the authorized capital of ASE is part of the plan of measures to financially strengthen the company, explained in Rosatom. Shares of an additional issue under a closed subscription will be fully acquired by the nuclear state corporation as the majority shareholder of Atomstroyexport CJSC.
In November 2011, it was decided to combine the competencies of the Nizhny Novgorod engineering company Atomenergoproekt and Atomstroyexport CJSC, the combined company plans to design and build 18 NPP power units simultaneously in Russia and abroad.
Notes
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