Competitive Landscape

Comparison of Rosseti with several Russian public companies in the electric power sectorComparison covers the most liquid companies in the MOEXEU industry index.

The results of the benchmarking study of PJSC Rosseti and the most comparable Russian public companies in the electric power sector by type of activity and size for 2023 demonstrate the Company’s high financial and economic efficiency, as well as high investor interest in the Company’s shares despite the limited free‑float.

Company name/IndicatorIFRS-based indicators for 2023. PJSC Rosseti PJSC RusHydro PJSC InterRao PJSC Unipro PJSC EL5‑Energo
Capitalisation, RUB bln 234.4The capitalisation of PJSC Rosseti includes actual outstanding shares of the Company. The calculation is based on the closing price according to the data of the Moscow Exchange. 316.5 412.5 126 23.7
Average daily trading volume on the Moscow Exchange, RUB mln 388.6 222.1 431.6 352.8 149.0
Revenue, RUB bln 1,378.7 510.3 1,360.0 118.6 60.8
EBITDA, RUB bln 528.2 131.5 182.4 44.3 12.1
EBITDA margin, % 38.3 25.8 13.4 37.3 19.9

Market share held by the Rosseti Group’s companies

As a result of restructuring in 2023, PJSC Rosseti now is one of the world’s largest power grid holdings, providing power supply to consumers in 82 regions of Russia, managing the Unified National (All‑Russian) Power Grid (UNPG) and the distribution grid complex. It manages 2.56 million kilometres of power transmission lines and substations with a total capacity of 877 GVA.

PJSC Rosseti and subsidiaries engaged in electric power transmission and grid connection services are natural monopolies and critical entities of information infrastructure. PJSC Rosseti is included on the list of strategic joint stock companiesDecree of the President of the Russian Federation No. 1009 dated 4 August 2004..

Required gross revenue (RGR) is an economically justified amount of financial resources required for regulated power grid companies to carry out their operations during the estimated regulation period. RGR serves as the basis for the approved tariffs for electricity transmission services in the regions where the Rosseti Group’s companies operate. As a matter of fact, a share of distribution company in the total regional RGR fully corresponds to the market share in the Russian grid market.

Share in the regional market for electricity transmission services under comparable tariff regulation conditions, %
Indicators 2022 2023
PJSC Rosseti (by region of operation) 73.4 74.2
Distribution complex
PJSC Rosseti Centre 90.5 91.0
PJSC Rosseti Centre and Volga Region 79.3 79.9
PJSC Rosseti North‑West 72.8 73.0
PJSC Rosseti Volga 63.1 63.0
PJSC Rosseti Lenenergo 80.2 81.0
PJSC Rosseti Siberia 63.3 65.3
PJSC Rosseti South 70.9 70.5
PJSC Rosseti Northern Caucasus 82.0 83.5
PJSC Rosseti Lenenergo 89.5 89.3
JSC Rosseti Tyumen 67.8 67.9
PJSC Rosseti Moscow Region 62.1 63.8
JSC Rosseti Yantar 81.6 82.7
PJSC Rosseti Kuban 77.2 77.1
PJSC TDC 71.0 72.6