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RusHydro expects net profit growth of 2020% by 40 year - EastRussia | Far East






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RusHydro expects 2020% growth in net profit for 40%

PJSC "RusHydro" expects the growth of total net profit after the transaction on refinancing the debt of "RAO ES of the East" from VTB to 40% by 2020

This is discussed in the presentation of the company to IFRS reporting for 9 2015 months.

This will occur in connection with the reduction of the cost of servicing the debts of the controlled company, explained the first deputy head of the company, George Rizhinashvili. In fact, profit growth will provide "a higher base for paying dividends in the future," a company representative said during a conference call on Tuesday.

While the company adheres to the level of payment of dividends in the amount of 25% of net profit. "As for pay-out, we adhere to the level in 25%, which through 2-3 may rise as a result of a decision of the management or our majority shareholder - the state, ”concluded the representative of RusHydro.

As previously reported, the board of directors of RusHydro recommended shareholders to approve a transaction with VTB, in which the bank would receive about 20% of the company's shares, paying 85 billion rubles. These funds will go to refinance debt. An extraordinary meeting of shareholders has not yet passed.

The head of RusHydro, Nikolay Shulginov, said earlier that the debt burden of PJSC RAO ES of the East reached 99,8 billion rubles. Of these, 40 billion rubles. inherited from RAO UES of Russia, 39,4 billion rubles. - to cover the deficit as a result of tariff-balance decisions, 20,47 billion rubles. - implementation of projects without return on investment, such as the APEC-2012 summit, gasification of generation.