OREANDA-NEWS. On 04 August 2009 Veles Capital Released Daily Review:

Russian FEC indicated positive operating trends. On Monday Ministry of energy summed up the results of Russian FEC operating within July and January-July 2009. So, gas extraction in July totaled 41.4 bn cubic meters – by 16% lower than in July 2008, but 10% higher than in the previous month. Gas extraction within January-July dropped by 19.8% versus the previous year and formed 316 bn cubic meters.

Strong estimates of RusHydro by RAS for 1H 2009. Sales of RusHydro by RAS for 1H 2009 grew by 34% to 39.2 bn RUR. At the same time the cost of RusHydro dropped within 6 months of 2009 by 6% versus the similar period of 2008 and totaled 17.2 bn RUR.

Mechel gets down to managing the Zlatoustovsky metallurgy plant. The government of Chelyabinsk region, Chelyabinsk metallurgy company and Zlatoustovsky metallurgy plant, JSC (a member of ESTAR group earlier) negotiated a strategic partnership.

Net profit of Power Machines by RAS in 1H 2009 grew by 68 times. Net profit of Power Machines, JSC by RAS in 1H 2009 exceeded 2.368 bn RUR. Sales of the company upped by 80% within the given period to 20.389 bn RUR, EBITDA totaled 3.211 bn RUR, which is by 6.8 times higher than in 1H 2008.