Financial information

OGK-2 announces financial statements for the three months ended 31 March 2010, prepared in accordance with International Financial Reporting Standards (IFRS)

“OGK-2” (Second Wholesale Power Generating Company), presents audited

results for 2007 prepared in accordance with the Russian Accounting Standards (RAS).

Revenue of the Company for the three months of 2010 increased by 49% in comparison to 1 st Quarter of 2009 – up to 14 682 mln RUR. Revenue from sales of electricity and power following the three – month results of 2010 is 14 278 mln RUR, what is 50% higher than the revenue for the 1 st Quarter of 2009 (9 505 mln RUR). Herein revenue from sales of power increased by 15% and figures up 365 mln RUR. Revenue growth is stipulated by liberalization of wholesale market for electricity and power, and, therefore, increase in sales volume of electricity and power in the result of competitive procedure and free bilateral treaties, and, moreover, growth of weighted average realization price for electricity and power at non – regulated contracts for electricity and power. Operating expenses increased up to 12 638 mln RUR (by 40%), in particular, because of expenses on fuel.

Profit before income tax increased 2,8 times – and figures up 1 869 mln RUR, profit for the period (net profit) is 1 472 mln RUR, what 3,2 times higher than for the 1 st Quarter of 2009.

More information about Financial statement of OJSC “OGK- 2” for the three months of 2010 prepared according to IFRS can be obtained following the link: https://ogk2.smhost.ru/aktsioneram-i-investoram/otchetnost/ 

+7 (495) 428 4222, ext. 411

RassmaginaAZ@ogk2.ru

OGK-2 announces audited financial statements for the year ended 31 December 2009, prepared in accordance with International Financial Reporting Standards (IFRS), reviewed by ZAO BDO

As at 31 December 2009 revenues of "OGK-2" JSC in 2009 amounted to 40 770 million RUR (in comparison with 2008 increased by 0,53%, 213.65 million RUR); profit amounted to 1 094 million RUR (against the loss of 385 million RUR in 2008). The main reason of the profit is growth of average prices for energy and power sales and in the result of competitive procedures.

OGK-2's IFRS financial statement for the year ended 31 December 2009 has been published at the site:
https://ogk2.smhost.ru/aktsioneram-i-investoram/otchetnost/ 

OGK-2 announces unaudited financial statements for the six months ended 30 June 2008, prepared in accordance with International Financial Reporting Standards (IFRS), reviewed by ZAO PricewaterhouseCoopers Audit

As at 30 June 2008, OGK-2’s non-current assets increased to RUR 41,844,872 thousand from RUR 22,915,648 thousand, compared to 31 December 2007. As at 30 June 2008, the company’s total assets was RUR 50,389,467 thousand (as at 31 December 2007 – RUR 48,773,074 thousand).

OGK-2’s profit in the six months ended 30 June 2008 was RUR 101,462 thousand, compared to profit RUR 678,706 thousand in the six months ended 30 June 2007. Total revenue in the six months ended 30 June 2008 was RUR 20,984,966 thousand, compared to total revenue RUR 15,938,225 thousand in the six months ended 30 June 2007. OGK-2’s IFRS financial statement for the six months ended 30 June 2008 has been published on the site: https://ogk2.smhost.ru/aktsioneram-i-investoram/otchetnost/ 

“OGK-2” (Second Wholesale Power Generating Company),

presents audited results for 2007 prepared in accordance with the Russian Accounting Standards (RAS).

OJSC OGK-2 releases audited financial statements for the year ended December 31, 2007, prepared in compliance with International Financial Reporting Standards (IFRS).

As of December 31, 2007, OGK-2’s fixed assets totaled 22,915,648 thousand rubles, representing an increase of 4,968,285 thousand rubles over the previous year. The company's total assets for 2007 was to 48,773,074 thousand rubles. OGK-2’s revenue was 33,785,684 thousand rubles. Loss for 2007 was 266,335 thousand rubles, compared to a profit of 2,434,013 thousand rubles for the prior year. The 2006 profit included the effect of the 4,307,159 thousand reversal of impairment of property, plant and equipment and assets under construction.

OGK-2's IFRS financial statements for the 2007 has been published on the site: https://ogk2.smhost.ru/aktsioneram-i-investoram/otchetnost/ 

Balance Sheet statement as of December 31, 2007:

The assets of “OGK-2” JSC (“Company”) as of December 31, 2007 amounted to 43,475 million rubles (as of December 31, 2006 – 17,076 million rubles).

The Company’s short-term accounts receivable as of December 31, 2007 amounted to 2,472 million rubles, the long-term accounts receivable came to 2,535 million rubles.

The equity capital of the Company as of December 31, 2007 amounted to 34,478 million rubles (as of December 31, 2006 – 9,579 million rubles).

The short-term liabilities of “OGK-2” JSC as of December 31, 2007 amounted to 2,064 million rubles.

Profit and Loss Statement for the year 2007:

Revenues of “OGK-2” JSC in 2007 amounted to 33,759 million rubles (in 2006 – to 8,259 million rubles); at that, gross profit amounted to 1,119 million rubles.

Income before taxes of “OGK-2” JSC in 2007 amounted to 426 million rubles, net profit – to 39 million rubles.

The comparative data of 2007 are given with regard to the Company only and do not include the data of “Stavropol GRES” JSC,

“Troitsk GRES” JSC, “Serov GRES” JSC, “Pskov GRES” JSC and “Surgut GRES-1” JSC of 2006 before the time of reorganization

in the form of consolidation – September 28, 2006, as they could not be determined with sufficient degree of reliability.

The reliability of the financial (accounting) statement of “OGK-2” JSC for 2007 is confirmed by audit report of “PriceWaterhouseCoopers Audit”.

The complete financial statements of “OGK-2” JSC for the year 2007 are available now on the Company’s corporate web-site at Russian.

Planning is done by the Planning- Economics Department of JSC “OGK-2” in compliance with the Standard and Regulation of business planning of the Department of Subsidiaries and Dependent Companies of RAO UES of Russia endorsed by the Protocol of the Board of RAO UES of Russia of 27.11.2006 №1576 pr/1. KPI for 2007 endorsed by decision of the Board of RAO UES of Russia of 25.06.2007.

Financial indicators of Company activities:

Natural indicators: