OREANDA-NEWS IDGC of Centre’s management in the framework of maintaining a continuous dialogue with representatives of the investment community held a number of meetings with shareholders and investors in Moscow. IDGC of Centre was represented by Advisor to General Director Sergey Rumyantsev, Deputy General Director for Corporate Governance Sergey Sharapov, Director for Corporate Governance Olga Kharchenko, and Head of IR Division Sergey Ternikov.

During the meetings IDGC of Centre’s representatives summed up the financial and operating results of the company for 2016. It was noted that the company managed to significantly improve its financial results, including net profit, which reached the level of 1.9 billion rubles, which is 111.1% higher than in the previous year. The key factors influencing the results were the growth of productive supply, the need to create provisions for doubtful debts and the optimization of operating expenses in the implementation of the cost management program. Particular attention was paid to improving the efficiency of the company. IDGC of Centre was able to fulfill all the tasks set for it, including reducing specific operating expenses following the results of 2016 by more than 15%. In addition, the management drew attention to the continued growth of power grid assets while reducing the number of technological violations. The company’s efforts to improve the quality and reliability of electricity supply were confirmed in the changes of electricity losses, which in comparable conditions were reduced by 0.07 percentage points to 9.36%.

Representatives of the investment community, in turn, were interested in the issues of projected dividends based on the results of work for 2016, prospects for possible privatization of a controlling stake, as well as benefits of the proposed merger of the executive bodies of IDGC of Centre and IDGC of Centre and Volga Region.