Net profit of OGK-3 IFRS for 1 half of 2009 rose 18% to 3.8 billion rubles

By admin at 13 October, 2009, 7:17 pm

Net profit of JSC OGK-3 IFRS up to 1 half-year 2009 increased in comparison with the analog period last year (3.2 billion rubles) by almost 18% to 3.8 billion rubles, according to company materials.

EBITDA of the Group for the first half of 2009 increased by 643 million rubles or 31% and amounted to 2,728 million rubles. EBITDA margin rose from 11% to 15%.

Total revenue of the Group of OGK-3 for the first half of 2009 decreased slightly to 139 million rubles, or 1% and amounted to 18.242 million rubles.

In the first half of 2009 and 2008, the Group has provided respectively 96.97% and 97.33% of its total revenue from the sale of electricity and power. During the reporting period, sales of electricity and power fell to 201 million rubles, or 1%.

costs of the current activities of the WGC-3 for the reporting period decreased by 262 million rubles (2%) and amounted to 16.840 million rubles.

The main component of these costs are fuel costs, which accounted for 45% and 50% in the first half of 2009 and 2008, respectively. In the first half of 2009 the cost of purchasing and transporting fuel decreased by 11% (902 million), up to 7.614 million.

Total assets of the Group WGC-3 for the first half of 2009 rose to 3,828 million rubles, or 4% on 30 June 2009 amounted to 109.223 million rubles. Net working capital of the Group amounted to 62.351 million rubles, an increase of 4,451 million rubles, or 8%.
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