OREANDA-NEWS. February 04, 2011. Finnish-based energy concern Fortum, which owns OJSC Fortum, formerly known as TGK-10, and controls a blocking package in TGK-1, closed FY2010 with a positive operating income in Russia, in contrast with a loss a year earlier. Specifically, the company received EUR 53 mn, versus a EUR 20 mn loss in 2009. FY2010 EBITDA advanced 2.5x and totaled EUR 139 mn.

Sales jumped 27% to EUR 804 mn, including EUR 505 mn from electricity and capacity sales, up 29.5%. Heat sales increased by 31% to EUR 287 mn. Operating income in 4Q2010 doubled y-o-y and amounted EUR 16 mn; EBITDA in 4Q2010 soared by 39% to EUR 39 mn, and sales grew by 29% y-o-y to EUR 254 mn.