OGK-2 IFRS EBITDA for FY2016 grew by 87.2%

OGK-2 releases unaudited interim consolidated abbreviated Financial Statements for the 12 months ended December 31, 2016, prepared in accordance with International Financial Reporting Standards (IFRS).

Highlights of the
Consolidated Income
(mn RUR)
12 2015 12M 2016 Change (%) Change (∆)
Revenue 112,233 134,398 +19.7% +22,165
Operating Expenses (108,533) (124,529) +14.7% +15,996
Operating Profit 3,918 9,389 +139.6% +5,471
EBITDA* 10,111 18,923 +87.2% +8,812
Profit for the Period 2,597 3,053 +17.6% +456

* EBITDA= Operating profit + Depreciation and Amortization.

The Group revenue for 12M 2016 totaled RUR 134,398 mn, up by 19.7% or by RUR 22,165 mn year-on-year. The revenue dynamics were determined, mainly, by growing electricity output, increased electricity spot-prices and capacity supply of units under CSA (CCGT-420 at Serovskaya station, steam-power unit-330 (SPU-330) at Novocherkasskskaya station, SPU-660 at Troitskskaya station and SPU-330 at Ryazanskaya station).

Operating expenses for 12M 2016 totaled RUR 124,529 mn, growing thus by 14.7% year-on-year, mainly, on the account of growing fuel consumption on the back of increased electricity production and growing fuel prices.

Operating profit increased by 139.6% year-on-year up to RUR 9,389 mn. EBITDA grew by 87.2 year-on-year, up to RUR18,923 mn. Profit increased by 17.6% up to RUR3,053 mn.

The detailed information about OGK-2 performance in 12M 2016 in accordance with IFRS is available at the companys website in the IFRS Financial Reports section.

For reference:

OGK-2 is a leading thermal generator, including 11 operating power plants and one under construction, with total installed capacity of 19.0 GW. The Company includes: Kirishskaya State District Power Plant, Krasnoyarskskaya State District Power Plant 2, Pskovskaya State District Power Plant, Novocherkasskaya 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 and Adlerskaya TPS. The Companys controlling shareholder is Gazprom Energoholding LLC (100%subsidiary of Gazprom JSC).

Contacts: dfilatov@ogk2.ru

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