OGK-2 Increased Its RAS Net Profit by 1.9 Times
OREANDA-NEWS. March 11, 2011. OGK-2 OJSC discloses its 2010 statements prepared in line with the Russian accounting standards.
|
2009 |
2010 |
% |
RUB mln. |
|
|
|
Revenues |
40 712 |
52 424 |
28,77 |
Costs |
36 064 |
45 822 |
27,06 |
Gross profit |
4 648 |
6 602 |
42,04 |
Net (loss) profit |
1 708 |
3 192 |
86,89 |
Revenues of the Company increased by 28.77% y-o-y and reached RUB 52,424 mln. 2010 revenue growth was due to increased electricity and power sales at higher prices in free market sectors.
Product, work and service costs went up by 27.06%, to RUB 45 822 RUB mln., as a result of greater fuel consumption and advanced fuel price, as well as greater spending on electricity purchases made to fulfill the concluded free bilateral agreements.
Net profit for the reporting period was RUB 3.2 bln., nearly 2 times exceeding the respective 2009 result.
As of December 31, 2010, value of the Company’s assets amounted to RUB 46,998 mln., which was 4.16%, or RUB 1,957 mln., less than the value as of the beginning of the reporting period.
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