ОГК-2

ОАО Вторая генерирующая компания оптового рынка электроэнергии

 

OGK-2 IFRS Revenue for 12M 2014 Increased by 3.6%
16.03.2015

OJSC OGK-2 releases OGK-2 Group`s audited consolidated Financial Statements for the 12 months ended December 31, 2014, prepared in accordance with International Financial Reporting Standards (IFRS).

Highlights of the Consolidated Income Statement (mn RUR)

12M 2013  

12M 2014

Change

Revenue

111,976

116,038

+3.6%

Operating expenses

(105,303)

 (116,857)

+11.0%

Operating expenses, adj.*

(105,303)

(108,210)

+2.8%

Operating profit (loss)

6,874

(692)

-110.1%

EBITDA**

11,460

4,278

-62.7%

EBITDA, adj.*

11,460

12,925

+12.8%

Profit (loss) for the Year

4,241

(1,433)

-133.8%

Profit for the Year, adj.*

4,241

6,238

+47.1%

* Figures adjusted for impairment of assets.

 ** EBITDA= Operating profit (loss) + Depreciation and Amortization.

 

In 12 months 2014 the revenue of OGK-2 Group totaled RUR 116,038 mn, that is higher by RUR 4,062 mn (+3.6%) year-on-year. The revenue increase resulted from the growth of electricity prices at the wholesale market along with lower sales volume.

Operating expenses increased by RUR 11,554 mn (+11.0%), while operating expenses, adjusted for impairment of assets, grew by 2.8%.

Operating profit for the 12 months of the 2014 decreased by RUR 7,566 mn year-on-year, thus formed for the 2014 loss of RUR 692 mn.

EBITDA for the 12 months of the 2014 decreased (-62.7%) year-on-year amounting to RUR 4,278 mn (for the 12 months of the 2013 - RUR 11,460 mn). The adjusted figure increased by 12.8% and totaled for the 2014 RUR 12,925 mn.

Loss of the OGK-2 for 12 months of the 2014 totaled RUR 1,433 mn vs. profit of RUR 4,241 mn for 12 months of the 2013. Profit adjusted to impairment of assets, increased (+47.1%) and reached RUR 6,238 mn.

Detailed information about OGK-2 Group performance in the 12 months 2014
in accordance with IFRS is available at the company’s website in the
IFRSFinancial Reports section.

For reference:

OGK-2 is a leading heat generator, including 11 production branches-power plants with total installed capacity of 18.0 GW, providing about 7% of Russia’s electricity output,  with 10 branches - power stations and Adlerskaya TPS (under construction). 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 Company’s controlling shareholder is ‘Gazprom Energoholding’ LLC (100% subsidiary of ‘Gazprom’ OJSC).

PR AND MEDIA DEPARTMENT

www.ogk2.ru

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