OREANDA-NEWS. On 27 March 2008 was announced, that JSC OGK-5 has prepared the financial statements of the Company for 2007 in accordance with the Russian Accounting Standards (RAS).

Balance Sheet as of December 31, 2007

JSC OGK-5’s assets as of December 31, 2007 totaled 54,557,851 thousand RUB (as of December 31, 2006 – 51,253,725 thousand RUB). The current accounts receivable of JSC OGK-5 as of December 31, 2007 totaled 5,481,245 thousand RUB, the non-current accounts receivable – 3,658,837 thousand RUB. The current accounts payable of JSC OGK-5 as of December 31, 2007 totaled 3,101,309 thousand RUB.

Profit and Loss Statement for 2007

The revenue of JSC OGK-5 for 2007 totaled 33,464,949 thousand RUB (for 2006 – 25,898,943 thousand RUB), while the gross profit totaled 2,539,619 thousand RUB. The profit on sales of JSC OGK-5 for 2007 totaled 2,073,998 thousand RUB. In 2007, the other expenses of JSC OGK-5 surpassed the other income by 41,667 thousand RUB (including interest receivable and payable). The expenses related to income tax and other similar compulsory payments of JSC ‘OGK-5’ for 2007 amounted to 254,408 thousand RUB. The net profit of JSC OGK-5 in 2007 totaled 1,804,220 thousand rubles.

During the evaluation of the comparison data in the financial statements, it should be taken into account that in the financial statements of 2007, the comparison data is provided for JSC OGK-5, which does not include the data for JSC Konakovskaya GRES and JSC Nevinnomysskaya GRES for 2006 before their consolidation to the company on April 1, 2006.

The credibility of the financial statements of JSC OGK-5 for 2007 was confirmed by the audit report of ZAO PricewaterhouseCoopers Audit.