24.05.2011

OJSC OGK-6 releases its unaudited consolidated Financial Statements for the period ended March 31, 2011 prepared in accordance with International Financial Reporting Standards (IFRS). 

Consolidated Statement of Comprehensive Income  Highlights (mn RUR) 

1Q 2011 

1Q 2010

Revenue 

14,553 

12,031 

Operating expenses 

(12,981) 

(10,925)  

Operating profit 

1,406  

1,231  

EBITDA* 

2,011  

1,728  

Profit for the year 

982  

903  

*EBITDA= Operating profit + Depreciation and Amortization. 

In 1Q 2011 the company’s revenue totaled RUR 14,553 mn, which is 21% higher compared to the same period in the previous year. The revenue increase resulted, in particular, from: 

·        higher degree of liberalization of the electricity & capacity market, 

·        growth of weighted average prices at the wholesale market for electricity and capacity. 

In 1Q 2011 operating expenses rose by 19% quarter-on-quarter and reached RUR 12,981 mn. Operating expenses mainly consist of fuel expenses, which grew by 12% up to RUR 8,126 mn due to fuel prices growth. 

In 1Q 2011 EBITDA rose by 16% quarter-on-quarter and reached RUR 2,011 mn. Profit for the year increased by 9%, amounting to RUR 982 mn. 

Detailed information about OGK-6 performance in the 1Q 2011 in accordance with IFRS is available at the company’s website in the IFRS Financial Reports section.