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DEC in 2015g reduced net loss by RAS by 35% - EastRussia | Far East






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DEK in 2015g reduced net loss under RAS by 35%

PJSC "Far Eastern Energy Company" (DEC, part of the holding company "RAO ES of the East") in 2015 reduced its net loss by RAS by 35% compared to 2014 year - to 1 billion 086,3 million rubles

This is reported in the company's financial statements.

DEK's revenue last year increased by 8,9% - to 70,431 billion rubles.

In the company "Interfax" explained the loss-making activity, including the debts for the supplied electricity. Earlier it was reported that the debt of consumers to "DEK" at the beginning of 2016 exceeded 7,5 billion rubles.

JSC accounts receivable increased from 7 billion 147,895 million rubles on December 31 2014 year to 8 billion 363,879 million rubles on December 31 2015 year. The main debtors of the company are JSC Oboronenergosbyt (939,25 million rubles), JSC DRSK (302,55 million rubles), Inter RAO UES (295 million rubles), KGUP Primteploenergo (262,65 million rubles), Energokomfort LLC ( 243,92 million rubles) and Amurmetal OJSC (163,28 million rubles), Interfax notes.

Payables "DEK" decreased last year from 7 billion 567,248 million rubles to 7 billion 243,285 million rubles.

Commercial expenses of the company for the year increased by 7% - to 24,008 billion rubles.

The materials state that last year the company attracted loans for a period of 1 in Sberbank (for a total of 8,31 billion rubles at interest rates from 12,85% to 22% per annum), Rosbank (7,283 billion rubles, 12,9-22,4% pa), Raiffeisenbank (1 billion rubles, 13,2%) and Gazprombank (760 million rubles, 12,4%).

DEK works as part of PJSC RAO ES of the East, is a guaranteeing supplier and a single purchaser of electricity in the second non-price zone, annually purchases about 32 billion kWh. DEK also carries out corporate and strategic management of its own assets - OJSC Far Eastern Generating Company, OJSC Far Eastern Distribution Grid Company, repair and service and non-core subsidiaries and affiliates.

According to the list of affiliated entities for 31 December 2015, PJSC RusHydro owns 52,07% of PJSC DEK shares (1,04% - direct control, 51,03% - indirect control through RAO ES of the East). Another 34,08% belongs to the Cyprus offshore Donalink Ltd., which controls OAO SUEK.