OREANDA-NEWS. December 20, 2010. OGK-2 OJSC made available its consolidated IFRS financial statements for 9 months of 2010.

The Company’s revenues over 9 months of 2010 increased by 31% y-o-y up to RUB 38,263 million. As of the end of 9 months of 2010, revenues from electricity and power sales were RUB 37,572 million, a 31% growth y-o-y. Revenues from heat energy sales went up by 17% up to RUB 575 million. Increase in revenues was due to a greater share of electricity sold on the wholesale market.

The operating expenses increased by 26% up to RUB 34,335 million, which mainly resulted from growth of spending on purchased electricity and power, as well as higher fuel prices.

As a result, the profit from operating activities in the reporting period was RUB 3,746 million, and the net profit reached RUB 2,843 million.

RUB million

9 months, ended September 30, 2010

9 months, ended September 30, 2009

Revenues

38,263

29,187

Electricity and power

37,572

28,603

Heat energy

575

490

Operating expenses

34,335

27,291

Profit from operating activities

3,746

1,842

Profit before income tax

3,676

1,510

Profit for the period (net profit)

2,843

1,130