OGK-2 releases Accounting Statements for 1H 2023, in accordance with Russian Accounting Standards (RAS).
*EBITDA = Operating Profit + Amortization and Depreciation + Impairment Loss (Reserve Accrual) on Non-finance Assets
Company revenue totaled RUR 78 bln 365 mn, increasing by 14.6% year-on-year. The revenue increased on the account of increased demand for generating equipment at the wholesale market and growing electricity price.
Cost of sales increased to RUR 59 bln 863, up by 17.6%. The main change factor is growing fuel costs on the back of increased output.
Gross profit totaled RUR 18 bln 502 mn (+5.7%). EBITDA increased by 2.5% year-on-year, up to RUR 22 bln 193 mn.
Net profit amounted to 12 bln 753 mn, up by 1.5%.
OGK-2 is an energy company, comprising 12 branches with total installed capacity of circa 16.3 GW: Surgutskaya GRES-1, Ryazanskaya GRES, Kirishskaya GRES, Stavropolskaya GRES, Novocherkasskaya GRES, Troitskaya GRES, Cherepovetskaya GRES, Serovskaya GRES, Pskovskaya GRES, Adlerskaya TPP, Groznenskaya TPP and Svobodnenskaya TPP.