ОАО Вторая генерирующая компания оптового рынка электроэнергии


OGK-2 RAS EBITDA for 9M 2016 Grew by 77.5%

OGK-2 releases its operating results and Accounting Statements for 9 months of 2016, prepared in accordance with Russian Accounting Standards (RAS).

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

9M 2015

9M 2016

Change (%)

Change (∆)






Cost of sales





Gross profit





Net profit










Electricity production for the 9 months of the 2016 amounted to 48 bln 057 mn kWh, growing thus by 2.9% (46 bln 709 mn kWh for the 9 months of the 2015), mostly on the account of increased production at CSA-units at Serovskaya, Cherepovetskaya and Kirishskaya stations. As a result, share of electricity production by equipment, commissioned under CSA-program, grew from 13% for 9M 2015 to 19% for 9M 2016.

Company revenue for the 9 months of the 2016 totaled RUR 94 bln 086 mn, increasing by 16.4% year-on-year. It was determined by commissioning and initiation of CSA-capacity supply to the wholesale market in 2016 (CCGT-420 at Serovskaya station since 01.01.2016, steam-power unit-330 (SPU-330) at Novocherkasskskaya station since 01.06.2016, SPU-660 at Troitskskaya station since 01.07.2016, and SPU-330 at Ryazanskaya station since 01.01.2016). Besides, the revenue growth was influenced by growing electricity production at OGK-2 branches – Kirishskaya, Ryazanskaya, Cherepovetskaya, Adlerskaya, and Serovskaya stations combined with growing electricity prices year-on-year at the “day-ahead” market.

Cost of sales amounted to RUR 83 bln 838 mn (+11.5% year-on-year) mostly on the account of increased fuel consumption, caused by growing load, amortization and property tax, on the back of CSA-units commissioning.

Gross profit increased by 82.0% year-on-year up to RUR 10 bln 249 mn.

Net profit grew by 4.4% to 2 bln 393 mn.

EBITDA grew by 77.5% year-on-year, up to RUR 11 bln 075 mn.

OGK-2 CEO Denis Bashuk noted that “the driver for the growing operational and economic parameters in the reporting period was the actual completion of the mandatory investment program, resulting in constant cash-flow, provided by CSA-units. Now we can concentrate on reduction of the debt portfolio, that was required to complete the above mentioned investment program”.

Detailed information about OGK-2 performance for the 9 months of the 2016 in accordance with RAS is available at the company’s website in the RAS Accounting Reports section.

For reference:

OGK-2 is a leading heat generator comprising branches – power plants (11 operating and one under construction) with total installed capacity of circa 19.0 GW. Company branches produced 64 bln kW h of electricity in 2015 (about 6% of the total production in Russia). Fuel mix: 65% coal, 35% gas. 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, Groznenskaya TPS (under construction.

The Company’s controlling shareholder is ‘Gazprom Energoholding’ LLC (100% subsidiary of ‘Gazprom’ JSC).

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