Chairman of the Board of Directors ROSSETI
Maintaining a tradition of looking back on the past year of operation, I am pleased to present to you the Annual Report of Public Joint Stock Company ROSSETI for 2016.
For the Company, 2016 was a year of sustained, steady development. Our progressive onward movement in the direction specified in the Strategy for Development of the Electric Grid Sector of the Russian Federation allowed the Company to remain one of Russia’s largest electric utilities securing a high-quality, affordable, and reliable electricity supply in the regions of its operations.
Pursuing the goals of the Strategy, management worked to enhance the Company’s operating efficiency, appeal for investors, and financial stability. Our work resulted in a substantial improvement in financial and economic performance compared with the previous period, enabling the ROSSETI Group to achieve record-high net profit and EBITDA.
Director General ROSSETI
Mr. Budargin, how do you assess the year 2016, and what was 2016 like for the ROSSETI Group?
2016 was a year when ROSSETI achieved record-high results, both operational and financial. All members of the Group’s team showed their high professionalism once again, while customers, partners, regulators, and all stakeholders as well were able to see that we had pursued the right strategy and remained committed to reaching our long-term key goals: reliability, accessibility, efficiency, and innovation of the electric grid sector.
It has been only four years since Russian President Vladimir Putin decided to bring government-linked grid companies under common management, but our achievements exceeded all expectations. Our performance in 2016 is convincing evidence that this decision was farsighted and correct from both technical and economic perspectives.
The ROSSETI Group ensures:
Competitive advantages of the ROSSETI Group