OGK-6 Net Profit Reaches 2.4 bln Rubles in 2009 (IFRS)
OREANDA-NEWS. May 21, 2010. JSC “OGK-
The company revenues in 2009 reduced 1% compared to 2008 to 41,9 bln rubles. The operating expenses fell 14% in 2009. Operating profit reached 3,4 bln. rubles. Net profit in the reported period amounted to 2,4 bln rubles compared to 829 mln rubles of losses in 2008.
Key Performance indicators
|
|
Period |
Change | |
|
Financial indicators |
Thousand RUR |
Thousand RUR |
% |
|
2009 |
2008 |
| |
|
Revenues |
41,870,322 |
42,275,050 |
-1% |
|
Operating expenses |
(38,470,645) |
(44,687,693) |
-14% |
|
Other income/(expenses) |
32,328 |
(155,796) |
- |
|
Operating profit /(loss) |
3,432,005 |
(2,568,439) |
- |
|
Finance income |
384,329 |
829,010 |
-54% |
|
Finance expenses |
(310,450) |
(357,907) |
-13% |
|
Profit/(loss) before income tax |
3,505,884 |
(2,097,336) |
- |
|
Income tax (expense)/benefit |
(1,063,626) |
1,267,933 |
- |
|
Profit/(loss) for the year |
2,442,258 |
(829,403) |
- |
|
Earnings/(loss) per Share – basic and diluted (in Russian Rubles per share) |
0.0757 |
(0.0257) |
- |
The company revenues fell 1% compared to 2008 due to the general decrease in electricity demand.
|
|
Period |
Change | |
|
2009 |
2008 | ||
|
|
Thousand RUR |
Thousand RUR |
% |
|
Electricity |
39,204,756 |
39,878,613 |
-2% |
|
Heating |
2,223,004 |
2,036,637 |
9% |
|
Other |
442,562 |
359,800 |
23% |
|
Total Revenue |
41,870,322 |
42,275,050 |
-1% |
The reduction of operating expenses by 14% was caused by the change in the Company fuel mix, as well as by the decrease in electricity production.
Major Operating Expenses
|
|
Period |
Change | |
|
2009 |
2008 | ||
|
|
Thousand RUR |
Thousand RUR |
% |
|
Fuel expenses |
19,206,397 |
24,271,556 |
-21% |
|
Purchased heat and electricity |
4,717,510 |
4,619,039 |
2% |
|
Employee benefit expenses and payroll taxes |
3,757,846 |
3,601,541 |
4% |
|
Depreciation charge |
1,866,892 |
2,812,159 |
-34% |
|
Impairment of property, plant and equipment |
- |
1,970,698 |
- |
|
Repairs and maintenance |
1,902,996 |
1,834,597 |
4% |
|
Other materials |
1,876,547 |
1,572,695 |
19% |
|
Water usage expenses |
851,563 |
1,085,434 |
-22% |
|
Energy market infrastructure cost |
752,424 |
639,936 |
18% |
|
Taxes |
629,321 |
437,181 |
44% |
|
Electricity transmission |
446,495 |
317,448 |
41% |
|
Loss on disposal of property, plant and equipment |
207,196 |
78,576 |
164% |
|
Impairment of inventories |
147,213 |
2,560 |
5651% |
|
(Reversal) / origination of allowance for accounts receivable |
226,197 |
(31,880) |
- |
|
Other expenses |
1,882,048 |
1,476,253 |
27% |
|
Total operating expenses |
38,470,645 |
44,687,693 |
-14% |
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