OREANDA-NEWS. May 11, 2011. IDGC of Centre was the first among the inter-regional distribution network companies has published the consolidated financial reporting on IFRS for 2010.

In 2010 the company revenue has grown 22,9 % in comparison with the similar period of last year and is 60,6 billion roubles, thus the revenue from transmission of electrical energy has grown 22,8 % and is 57,4 billion roubles, and the revenue from technological connections has grown 36,6 % and is 2,25 billion roubles.

The company’s operating profit has reached the value of 7,9 billion roubles that is above the value of the similar accounting period at 65,3 %, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is 12,4 billion roubles, the given indicators have reached the maximum values for all the record of the company.

Operational expenditures of the company have thus grown only 19,5 %, having reached the value of 54,1 billion roubles, preferentially at the expense of increase of not under control costs of services of Unified National Energy System owing to growth of rates, and also increase of expenditures connected with purchasing electric power to compensate losses.

Growth of capital costs (CapEX) in comparison with the similar period of last year is 88,3 %, having reached the value of 12,3 billion roubles, thus the main share of capital costs is attributed to Belgorodenergo — 29,9 %, Lipetskenergo — 11,1 % and Kurskenergo — 9,9 %.

Total long-term loans of the company are 13,8 billion roubles, growth in comparison with the similar accounting period of last year is 166,7 % that is caused by necessity of implementation of the approved investment program of the company. Thus the ratio of pure debt/EBITDA following the results of 2010 has decreased to 1,18.

The financial reporting according to IFRS for 12 months 2010 and for the previous periods, and also presentation to investors is available on the web site of IDGC of Centre at the address:/stockholder/presentation/

These materials contain announcements concerning the future events and expectations, which represent perspective estimations. Any announcement contained in the given materials, which is not the information for the last reporting periods, represents the perspective estimation connected to known and unknown risks, uncertainties and other factors as a result of which influence actual results, activity or achieved indicators can essentially differ from expected results, indicators of activity or achievements expressly or by implication expressed in the given perspective estimations. We do not undertake any obligations on adjustment of the data contained herein so that they reflect actual results, changes in initial assumptions or factors, which have affected perspective estimations.