17 May 2022

OGK-2 Group Releases Financial Statements for 1Q 2022

OGK-2 releases audited consolidated Financial Statements for the nine months, ended March 31, 2022, prepared in accordance with International Financial Reporting Standards (IFRS).

Highlights of the Consolidated Income Statement (mn RUR)

3M 2021

3M 2022

Change (%)

Change (∆)






Operating Expenses





Operating Profit










Profit for the Period





* EBITDA = Operating profit (Revenue – Operating Expenses – Impairment (Loss) / Reversal on Financial Assets) + Depreciation and Amortization + Loss from Impairment (Reserve Accrual) for Non-financial Assets – Income from Impairment Loss Reversal (Reserve) for Non-financial Assets

The Group revenue totaled RUR 39,589 mn, up by 7.4% year-on-year, resulting  from growing prices of electricity and capacity at the wholesale market. Operating expenses totaled RUR 30,658 mn, increasing by 11.4% year-on-year. The increase was due to growing fuel expenses on the back of growing electricity output.

Operating profit amounted to RUR 9,496 mn. EBITDA parameter decreased marginally to RUR 12,665 mn (-2.6% year-on-year). Profit for the period increased by 1.1% year-on-year to RUR 7,224 mn.

The detailed information about OGK-2 performance for 3M 2022 in accordance with IFRS is available at the company’s website in the IFRS Financial Reports section.

For reference:

OGK-2 is a thermal generator. The Company’s controlling shareholder is ‘Gazprom Energoholding’ LLC (100% subsidiary of ‘Gazprom’ JSC).