OREANDA-NEWS. OJSC OGK-2 releases its Accounting Statements for 9M 2013, prepared in accordance with Russian Accounting Standards (RAS).

The Company's revenue for the 9 months of the 2013 totaled RUR 81,191 mln, growing by 6.7% or by RUR 5,096 mln year-on-year. The revenue increase resulted from the growth in capacity prices and sales under capacity supply agreements (CSA) - among other thighs, on the back of commissioning of Adlerskaya TPP. This positive effect was enhanced by growing electricity prices at the wholesale market and increased prices at the “competitive capacity outtake” (CCO) in 2013.

Cost of sales for the 9 months of the 2013 totaled RUR 71,685 mln, growing manageably by 3.5% year-on-year.

As a result of it gross profit for the 9 months of the 2013 grew 1.4 times year-on-year and totaled RUR 9,506 mln.

EBITDA for the 9 months of the 2013 grew by 44.1% year-on-year, amounting to RUR 10,669 mln (vs RUR 7,406 mln in 9M 2012).

OJSC OGK-2 net profit for the 9 months of the 2013 totaled RUR 5,456 mln, increasing by RUR 2 bln 548 mn, or nearly twofold year-on-year.

“Implementation of the project “Effectiveness” ensured stable operating expenses on the account of capacity load optimization. Particularly, the contribution of ineffective generation to the total output was reduced. A number of stations took robust advantage of diversifying fuel balance. We have also proceeded with the cost reduction measures. Competitive purchasing and organization structure improvement are among them”, - remarked Denis Bashuk, General Director of OJSC OGK-2.

Detailed information about OJSC OGK-2 performance for the 9 months of the 2013 in accordance with RAS is available at the company's website in the RAS Accounting Reports section.