ОАО “IDGC of Urals”: 1H 2009 Revenues totaled US$ 617.3 mln.

10 August 2009

Ekaterinburg (Ural Federal District, Russia) - ОАО «IDGC of Urals» (RTS and MICEX: MRKU) reports on the 1H 2009 results under Russian Accounting Standards (RAS)

- Revenues from services in 1H 2009 totaled US$ 617.3 mln. [1] (-16.9% on 1H 2008).

- 1H 2009 expenses reached US$ 556.1 mln. (-22.3%).

Table 1. Financial result of OAO «IDGC of Urals» as of 1H 2008 and 2009.[2]

Item

1H 2009

1H 2008

Change, %

Revenues from services, US$ thous. *

617 300.1

743 119.4

-16.9%

Expenses, US$ thous.

556 074.1

715 437.0

-22.3%

Operating profit, US$ thous.

61 226.0

27 682.4

+121.2%

Operating margin

9.92%

3.73%


EBITDA, US$ thous. [3]

42 178.1

53 377.3

-21.0%

EBITDA margin

6.8%

7.1%

-

Pre-tax profit, US$ thous.

667.2

6 436.4

-89.6%

Net profit, US$ thous.

151.9

644.4

-76.4%

Net margin

0.02%

0.09%

-

[1] Figures in dollar terms are shown just for information. Due to high 1H 2009 ruble devaluation, the figures in dollar differ greatly from those in ruble terms and they distort the real economic situation.

[2] For better comparison here and henceforth financial and economical figures as of 1H 2008 are calculated as the sum of the results by managing company OAO «IDGC of Urals» and OAO «Permenergo», OAO «Sverdlovenergo», OAO «Chelyabenergo».

[3] EBITDA is calculated according to the following formula: net profit + income tax and other obligatory payments + interest payable + depreciation and amortization.

* Here and henceforth currency conversions are based on average exchange rates: 1H 2009 - RUR 33.3, 1H 2008 - RUR 23.9.

Table 2. 1H 2009 Operating Results:

Item

1H 2009

Network and Equipment

Aerial lines (in chains)/ Cable lines, thous. km

122.3 / 4,9

Transformer substations PS-35/110-220 kW:

- quantity, pcs.

 

999

- installed capacity, MVA

20 287

Transformer substations TP-6-20/0.4 kW:

- quantity, pcs.

27 335

- installed capacity, MVA

7 260

Energy supply and losses

 

1H 2009

1H 2008

Change, %

Energy supply, mln. kWh

37 199 705.4

44 827 469.7

-17.0%

Productive supply, mln. kWh

33 861 720.2

41 375 935.2

-18.2%

Energy losses, mln. kWh

3 337 985.2

3 451 534.5

-3.3%

         

More detailed information on the Company's revenues and expenses as well as operating results can be found here (pdf, 305 kB).

For 1H 2009 accounting statements prepared under Russian Accounting Standards (RAS), please, visit our corporate web-site at «Financial Statements» section (or follow the link: www.mrsk-ural.ru/ru/356).

IR Department

Tel./ Fax: (343) 293 26 58/ 293 25 84

IR@mrsk-ural.ru
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