18 February 2022

OGK-2 RAS Net Profit for the 2021FY Increased by 73.5%

OGK-2 releases Accounting Statements for the 2021FY, in accordance with Russian Accounting Standards (RAS).

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

2020

2021

Change (%)

Change (∆)

Revenue

120,299

141,161

+20,862

+17.3%

Cost of sales

(98,363)

(112,025)

(13,662)

+13.9%

Gross profit

21,936

29,136

+7,200

+32.8%

Net profit

12,289

21,327

+9,038

+73.5%

EBITDA

29,661

40,725

+11,064

+37.3%

Company revenue totaled RUR 141 bln 161 mn, increasing by 17.3% year-on-year. The revenue growth is due to increase of demand for generating equipment on the whole sale market, and growth of the electricity sale price and capacity supply under CSA-contracts.

Cost of sales increased to RUR 112 bln 025, up by 13.9%.

Gross profit totaled RUR 29 bln 136 mn (+32.8%).

EBITDA increased by 37.3% year-on-year, up to RUR 40 bln 725 mn.

Net profit increased by 73.5% to 21 bln 327 mn.

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

For reference:

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