OREANDA-NEWS. OJSC OGK-2 releases its Accounting Statements for the year 2012, prepared in accordance with Russian Accounting Standards (RAS).

The Company’s revenue for the 12 months of the 2012 totaled RUR 104 bln 058 mn, decreasing by 0.8% or RUR 843 mn, comparing to summarized revenue of OJSC OGK-2 and OJSC OGK-6 for the year 2011.

Cost of sales for the 12 months of the 2012 totaled RUR 94 bln 393 mn. The fuel expenses dominate the cost of sales structure.

EBITDA for the year 2012 doubled, comparing to summarized revenue of OJSC OGK-2 and OJSC OGK-6 for the year 2011, and reached RUR 10 bln 071 mn (RUR 5 bln 269 mn for the year 2011). The EBITDA growth was stipulated by the following factors: ineffective capacities loading optimization, cost cutting, electricity price growth on the day-ahead market and price indexation for competitive capacity outtake in the second half of 2012.

Profit from sales for the 12 months of the 2012 totaled RUR 7 bln 903 mn.

OJSC OGK-2 net profit for the year 2012 totaled RUR 4 bln 007 mn, increasing by RUR 3 bln 162 mn, or fourfold in comparison with summarized revenue of OJSC OGK-2 and OJSC OGK-6 for the year 2011.

Detailed information about OJSC OGK-2 performance in the 12 months 2012 in accordance with RAS is available at the company’s website in the RAS Accounting Reports section.

On November 1, 2011 corporate procedures on OGK-6 consolidation to OGK-2 were concluded. With account to this fact in the current release the results for the 12 months of the 2012 are presented without comparison with the corresponding period of the 2011.

OGK-2 is a leading heat generator comprising 11 branches - power plants with total installed capacity of circa 18.1 GW, providing about 8% of Russia’s electricity output. The Company includes: Adlerskaya TPS, Kirishskaya State District Power Plant, Krasnoyarskskaya State District Power Plant 2, Pskovskaya State District Power Plant, Novocherkasskskaya State District Power Plant, Ryazanskaya State District Power Plant, Serovskaya State District Power Plant, Stavropolskaya State District Power Plant, Surgutskaya State District Power Plant 1, Troitskskaya State District Power Plant, Cherepovetskaya State District Power Plant.

The Company’s controlling shareholder is ‘Gazprom Energoholding’ LLC (100% subsidiary of ‘Gazprom’ OJSC).