“Rosseti Siberia”: the energy corporation announced losses in order not to pay dividends?
Rosseti Siberia received a net loss of 207 million rubles in 2022. This became the official reason for not paying dividends to shareholders. However, as early as next year, the energy giant announced fantastic profits.
According to the company’s financial statements for 2022, PJSC Rosseti Siberia increased its revenue to 64.6 billion rubles against 60.6 billion rubles a year earlier. The company’s net loss for the year amounted to 207 million rubles.
As a result, during the annual general meeting of shareholders of ROSSETI Siberia, it was decided not to pay dividends for 2022.
– Do not pay dividends on ordinary and preferred shares of the company in connection with the loss received based on the results of 2022, – the company officially stated.
It should be noted that the refusal to pay dividends is a common decision for an energy corporation that transmits and distributes electricity in the republics of Altai, Buryatia, Tyva and Khakassia, Altai, Zabaikalsky, Krasnoyarsk Territories, Kemerovo and Omsk Regions.
Suffice it to recall that the last time Rosseti Siberia paid dividends for the first nine months of 2019.
And, apparently, such an anti-dividend policy of the company will continue in the future, at least until 2026. In an interview with Kommersant, Andrey Ryumin, CEO of Rosseti, which includes PJSC Rosseti Siberia, said that “we are unlikely to change our dividend policy in the near future.” But then I still decided to add gravitas:
– It is wrong to say unequivocally that we will not pay dividends until 2026.
The government, depending on what happens next year, in a year, what tariff decisions will be, and so on, will return to this issue and decide depending on the situation. Maybe some additional measures will appear, maybe not, all the same, decisions will be made at meetings of shareholders, – Ryumin revealed the possibility of paying dividends in the most streamlined way.
It is noteworthy that already in the next financial report, the affairs of PJSC Rosseti Siberia miraculously went uphill. As follows from the company’s financial statements, Rosseti Siberia received 1.06 billion rubles of net profit in the first half of 2023 against 271.2 million rubles of losses a year earlier for the same period.
At the same time, the company’s revenue for January-June 2023 increased to 35 billion rubles compared to 32.5 billion rubles in the first six months of 2022. The cost of sales increased by almost one billion rubles.
The main profit margin was generated by the proceeds from the transmission of electricity – 34.44 billion rubles.
It should be noted that the company operates 252,000 kilometers of transmission lines, 58,000 substations with a transformer capacity of more than 45,000 MVA, and in many regions of Siberia is in fact a monopolist in the electric grid market. hzikhidtidekrt services.
