Rosseti not see any serious risks in the current economic situation

Rosseti not see any serious risks in the current economic situation

Rosseti largely provide themselves with equipment manufactured in Russia and have no obligations in foreign currency, according to a company spokesman, Dmitry Bobkov.

MOSCOW, 21 Jan. Rosseti in 2016 do not see serious risks in the current financial and economic situation, said the representative of the company Dmitry Bobkov.

“The main trends in the Russian economy, associated with the weakening of the national currency, lower oil prices, higher inflation, do not have a significant effect on the financial stability of PJSC “Russian grids” and its subsidiaries and affiliates, as the company’s revenue is denominated in rubles, and has no obligations under foreign currency”, — said the Agency interlocutor.

In “Russian grids” also noted that the company largely self-sufficient in equipment of Russian production. “Overall, domestic equipment in the electric grid complex of the company is more than 70% of the fleet,” said a company representative.

The company also has no plans to increase its debt burden by the end of 2016 the growth of the loan portfolio is not provided, said the representative of “Russian grids”. “The company in 2016 plans to stay within the planned values of the indicator debt/EBITDA not exceeding 3.0”, — said Bobkov.

In 2016 the company will continue to implement cost reduction programme, the planned access to the public capital markets, including Asian. By 2017 it is planned to reduce operating expenses by 26.2%, taking into account inflation concerning the level of 2012 calculating per unit of service electrical equipment.