Net profit of JSC “OGK-5″ for 2008 by RAS was 1 563 million rubles. That 241 million rubles. lower than in 2007 (-13%). Profit before tax amounted to 2 244 million rubles. That 212 million rubles. higher than the figure for 2007 (10%).
Revenue OAO “WGC-5″ from operating activities amounted to 42 846 mln., an increase of 9 382 million rbl. increase over last year (28%). Increased revenue is primarily due to an increase in the useful vacation electricity by 12% (from 36 481 to 40 thousand MVtch MVtch 729 thousand), due to the improved rate of readiness and the utilization rate of installed power stations, as well as an increase sredneotpusknoy cost of electricity and power and increase the proportion of free Sales of electricity (28% of total sales went to the market “for a day in advance).
Gross profit amounted to EUR 4 044 million. that the 1 504 mln. above this figure for 2007 (59%).
profit on sales amounted to 3 440 million rubles. that the 1 367 mln. higher than in 2007 (66%).
Net financial expenses amounted to 156 million rubles., while in 2007 the company showed a net financial income of $ 390 million. This decrease can be attributed to the financing of capital expenditures made by the company during the year related to the construction of two power units PGU-410 at Sredneuralskiy and Nevinnomyssk plants, construction of dry zoloshlakoudaleniya on Reftinskoy TPP, as well as the upgrading of existing equipment.
Net result from other activities amounted to 040 mln -1. (-431 Mln. The year before). The change is mainly caused by a single cost in the amount of EUR 513 million. Primarily related to restructuring.
It is noteworthy that in 2008 the company incurred additional costs for non-recurrent income tax liability in the amount of 154 million rubles. These costs mainly due to revaluation of the tax value of fixed assets and Konakovskoy Nevinnomyssk plants, which were attached to the JSC “OGK-5″ in 2006. However, in reporting for 2007 reflects the non-recurrent income tax expense of $ 338 million.
Excluding the impact of the above articles of recurrent costs, net profit of the company increased by 17% compared to 2007.
Balance sheet as at on 31 December 2008
Total assets at the end of 2008 amounted to 57 863 mln. that at 3 305 million rubles. higher than in 2007.
Non-current assets amounted to 47 741 mln., an increase of 9 395 million rbl. higher than in 2007 due to capital expenditure undertaken by the society in 2008.
Current assets amounted to 10 121 mln., 6 090 million. lower than at the end of 2007. The decline is mainly due to the use of funds raised during the IPO, to finance the investment program of the society.
The total capital and reserves at the end of 2008 amounted to 46 672 mln. that the 1 563 mln. higher than at the end of 2007. The change is due to net profit for the period.
Total liabilities amounted to 11 191 mln. that the 1 741 mln. higher than the figure for 2007. The change is primarily due to increases in short-term borrowings (1 864 mln.) Used to bridge the financing of long-term loans, which at the end of 2008 were in the final stages of negotiation.
Statement of Cash Flows for the year 2008
The net inflow of funds for ongoing activities in 2008 amounted to 3 601 million rubles. that 374 million rubles. higher than in 2007 (24%).
Net outflow from investing activities amounted to EUR 6 671 million. that 4 655 mln. higher than the previous year due to an increase in debt associated with an investment program.
Net inflows from financing activities amounted to EUR 1 866 million., while in 2007 the company showed a net outflow of $ 533 million.
Audit accounting for RSA for 2008 was made ZAO KPMG, approved as an auditor of OAO “WGC-5″ for 2008 annual general meeting of shareholders of OAO “WGC-5″ in May 2008.
FOREX Forecast » Net profit of OGK-5 for 2008 on the RAS decreased by 13% and amounted to 1 563 million rubles
Net profit of JSC “OGK-5″ for 2008 by RAS was 1 563 million rubles. That 241 million rubles. lower than in 2007 (-13%). Profit before tax amounted to 2 244 million rubles. That 212 million rubles. higher than the figure for 2007 (10%).
Revenue OAO “WGC-5″ from operating activities amounted to 42 846 mln., an increase of 9 382 million rbl. increase over last year (28%). Increased revenue is primarily due to an increase in the useful vacation electricity by 12% (from 36 481 to 40 thousand MVtch MVtch 729 thousand), due to the improved rate of readiness and the utilization rate of installed power stations, as well as an increase sredneotpusknoy cost of electricity and power and increase the proportion of free Sales of electricity (28% of total sales went to the market “for a day in advance).
Gross profit amounted to EUR 4 044 million. that the 1 504 mln. above this figure for 2007 (59%).
profit on sales amounted to 3 440 million rubles. that the 1 367 mln. higher than in 2007 (66%).
Net financial expenses amounted to 156 million rubles., while in 2007 the company showed a net financial income of $ 390 million. This decrease can be attributed to the financing of capital expenditures made by the company during the year related to the construction of two power units PGU-410 at Sredneuralskiy and Nevinnomyssk plants, construction of dry zoloshlakoudaleniya on Reftinskoy TPP, as well as the upgrading of existing equipment.
Net result from other activities amounted to 040 mln -1. (-431 Mln. The year before). The change is mainly caused by a single cost in the amount of EUR 513 million. Primarily related to restructuring.
It is noteworthy that in 2008 the company incurred additional costs for non-recurrent income tax liability in the amount of 154 million rubles. These costs mainly due to revaluation of the tax value of fixed assets and Konakovskoy Nevinnomyssk plants, which were attached to the JSC “OGK-5″ in 2006. However, in reporting for 2007 reflects the non-recurrent income tax expense of $ 338 million.
Excluding the impact of the above articles of recurrent costs, net profit of the company increased by 17% compared to 2007.
Balance sheet as at on 31 December 2008
Total assets at the end of 2008 amounted to 57 863 mln. that at 3 305 million rubles. higher than in 2007.
Non-current assets amounted to 47 741 mln., an increase of 9 395 million rbl. higher than in 2007 due to capital expenditure undertaken by the society in 2008.
Current assets amounted to 10 121 mln., 6 090 million. lower than at the end of 2007. The decline is mainly due to the use of funds raised during the IPO, to finance the investment program of the society.
The total capital and reserves at the end of 2008 amounted to 46 672 mln. that the 1 563 mln. higher than at the end of 2007. The change is due to net profit for the period.
Total liabilities amounted to 11 191 mln. that the 1 741 mln. higher than the figure for 2007. The change is primarily due to increases in short-term borrowings (1 864 mln.) Used to bridge the financing of long-term loans, which at the end of 2008 were in the final stages of negotiation.
Statement of Cash Flows for the year 2008
The net inflow of funds for ongoing activities in 2008 amounted to 3 601 million rubles. that 374 million rubles. higher than in 2007 (24%).
Net outflow from investing activities amounted to EUR 6 671 million. that 4 655 mln. higher than the previous year due to an increase in debt associated with an investment program.
Net inflows from financing activities amounted to EUR 1 866 million., while in 2007 the company showed a net outflow of $ 533 million.
Audit accounting for RSA for 2008 was made ZAO KPMG, approved as an auditor of OAO “WGC-5″ for 2008 annual general meeting of shareholders of OAO “WGC-5″ in May 2008.