OGK-6 Net Profit Climbs to 2.7 bln Rubles After Six Months of 2009 (IFRS)
- 03.09.2009
JSC “OGK-6” (MICEX - OGK6; RTS – OGKF) reports its Unaudited Consolidated Financial Statements prepared in accordance with International Financial Reporting Standards (IFRS) for first three and six months of 2009.
The translation into English of the Interim Consolidated Balance Sheets, Interim Consolidated Statements of Income, and Interim Consolidated Statements of Cash Flows for the reported periods can be found following this link: http://www.ogk6.ru/en/shareholders/finindexs/msfo/2005.php
The company revenues in the first six months of 2009 stayed at the same level of 20,4 bln rubles as in the last year. The reduction in operating expenses amounted to 16%. Net profit has reached 2.7 bln rubles compared to 56 mln rubles in the same period last year.
Key Performance indicators
|
|
Period |
Change y.o.y. (%) |
Period |
Change y.o.y. (%) | ||
|
Financial performance indicators (thousand rubles) |
Three months ended March 31, 2009 |
Three months ended March 31, 2008 |
|
Six months ended June 30, 2009 |
Six months ended June 30, 2008 |
|
|
Revenues |
11,095,069 |
11,429,975 |
-3% |
20,446,976 |
20,362,382 |
0% |
|
Operating expenses |
(8,901,833) |
(11,209,116) |
-21% |
(17,350,480) |
(21,008,027) |
-17% |
|
Other (expenses)/income |
26,211 |
34,650 |
-24% |
40,288 |
(25,486) |
258% |
|
Operating (loss)/profit |
2,219,447 |
255,509 |
769% |
3,136,784 |
(671,131) |
561% |
|
Finance income |
125,776 |
326,648 |
-61% |
241,722 |
564,843 |
-57% |
|
Finance expenses |
(53,511) |
(94,125) |
-43% |
(107,617) |
(157,521) |
-32% |
|
(Loss)/profit before income tax |
2,291,712 |
488,032 |
370% |
3,270,889 |
(263,809) |
1 340% |
|
Income tax benefit/(expense) |
(387,627) |
(158,602) |
344% |
(603,920) |
319,665 |
-289% |
|
(Loss)/profit for the period |
1,904,085 |
329,430 |
478% |
2,666,969 |
55,856 |
4674% |
|
(Loss)/earnings per ordinary share - basic and diluted (in Russian Roubles) |
0.0590 |
0.0102 |
478% |
0.0826 |
0.0017 |
4759% |
|
Production indicators |
|
|
|
|
|
|
|
Electricity production, mln.kWh |
7,576,978 |
10,674,085 |
-29% |
13,116,995 |
18,687,374 |
-30% |
|
Heat production, Gcal |
1,561,659 |
1,573,,892 |
-1% |
2,388,989 |
2,428,294 |
-2% |
|
Capacity Factor |
38,8% |
54% |
-29% |
33.4% |
47.5% |
-30% |
Major Operating Expenses (thousand rubles)
|
|
Three months ended March 31, 2009 |
Change y.o.y % |
Six months ended June 30, 2009 |
Change y.o.y % |
|
Fuel expenses |
4,729,732 |
-27% |
8,377,787 |
-27% |
|
Purchased heat and electricity |
1,264,750 |
-12% |
2,528,844 |
2% |
|
Employee benefit expenses and payroll taxes |
866,498 |
16% |
1,739,423 |
-1% |
|
Depreciation charge |
424,969 |
-40% |
896,422 |
-36% |
|
Repairs and maintenance |
234,832 |
3% |
688,350 |
-9% |
|
Other materials |
282,647 |
69% |
846,775 |
21% |
|
Water usage expenses |
169,495 |
-28% |
372,619 |
-21% |
|
Energy market infrastructure cost |
187,803 |
15% |
374,145 |
15% |
|
Taxes |
138,090 |
221% |
267,705 |
24% |
JSC "OGK-6" was founded on March 17, 2005 within the framework of the Russian electric power industry reform. The core business of JSC "OGK-6" is electric and thermal power generation as well as supply&sales to consumers. The primary market for sales of the products of the Companyis within the framework of the Russian electric power industry reform. of JSC "OGK-6" is electric and thermal power generation as well as supply&sales to consumers. The primary market for sales of the products of the Companyis the wholesale electricity (capacity) market.
The total electric installed capacity of JSC “OGK-6” plants amounts to 9,052 MW. This renders JSC “OGK-6” the fourth largest company by installed capacity size among all OGKs and TGKs created as a result of the reform of electric power industry in Russia. In 2008 the JSC “OGK-6” electricity production totaled . This renders JSC “OGK-6” the fourth largest company by installed capacity size among all OGKs and TGKs created as a result of the reform of electric power industry in Russia. In 2008 the JSC “OGK-6” electricity production totaled 38,857 million kWh .
The JSC “OGK-6” shares are traded at Russian MICEX and RTS. In July, 2008 the GDR program under Reg S and Rule 144A of JSC “OGK-6” shares was opened by Deutsche Bank Trust Company Americas. The ISIN for Reg. S GDRs is US 6708472013; ISIN for the Rule 144A GDRs is US 6708471023.
Corporate Governance Unit
Ivan Troynikov, Maxim Kochetkov
tel. +7(495) 428-53-45
