OJSC OGK-2 increased its 9M 2014 RAS revenue by 2.6%

OJSC OGK-2 releases its Accounting Statements for 9 months of the 2014, prepared in accordance with Russian Accounting Standards (RAS).

The Company’s revenue for the 9 months of the 2014 totaled RUR 83 bln 313 mn, growing by 2.6% year-on-year. The increase in revenue was due to electricity and capacity prices growth on the wholesale market on the back of decrease of sales volumes.

Cost of sales for the 9 months of the 2014 grew by 2.4% year-on-year and totaled RUR 73 bln 437 mn. Therewith, the company worked on coal usage increase, providing that period additional margin against natural gas. This led to fuel usage optimization of, which dominates in the cost of sales structure.
As a result, the gross profit for the 9 months of the 2014 increased by 3.9% year-on-year and totaled RUR 9 bln 875 mn.

EBITDA for the 9 months of the 2014 decreased by 2.0% year-on-year, amounting to RUR 10 bln 460 mn.
OJSC OGK-2 net profit for the 9 months of the 2014 totaled RUR 5 bln 491 mn, increasing by 0.6% year-on-year.

Key Highlights of the Statement of Financial Results (mn RUR)

9M 2014

9M 2013

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Detailed information about OJSC OGK-2 performance for the 9 months of the 2014 in accordance with RAS is available at the companys website in the RAS Accounting Reports section.

For reference:
The Companys electricity output for the 9 months of the 2014 decreased by 6.6% and totaled 49 bln 85 mn kWh (vs 52 bln 560 mn kWh in 9 months of the 2013). Heat output increased by 1.4% and totaled 4,665 thous Gcal (vs 4,600 thous Gcal in 9 months of the 2013).

The Companys electricity output decrease resulted from lowered electricity consumption in Russian Federation, high water flow in the Siberian region and workload optimization (reduced proportion of inefficient capacity in the output). Yet constant high loading of Adlerskaya HPP after the Olympiad increased its output by 56% – up to 1 bln 680 mn kWh (vs 1 bln 76 mn kWh in the 9 months of the 2013) and reflected on the total heat output of the Company.

OGK-2 is a leading heat generator comprising 11 branches - power plants with total installed capacity of circa 18.0 GW, providing about 7% of Russias electricity output. The Company includes: Adlerskaya TPS, Kirishskaya State District Power Plant, Krasnoyarskskaya State District Power Plant 2, Pskovskaya State District Power Plant, Novocherkasskskaya State District Power Plant, Ryazanskaya State District Power Plant, Serovskaya State District Power Plant, Stavropolskaya State District Power Plant, Surgutskaya State District Power Plant 1, Troitskskaya State District Power Plant, Cherepovetskaya State District Power Plant.
The Companys controlling shareholder is ‘Gazprom Energoholding LLC (100% subsidiary of Gazprom OJSC).

  • Peterburgskoe highway 66,
  • Buid. 1, litera A, St. Peterburg, 196140, Russia
  • (812) 646-13-64
  • mail: office@ogk2.ru
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