OREANDA-NEWS. April 22, 2010. ОАО "IDGC of Urals" (RTS and MICEX: MRKU) reports on 2009 results under Russian Accounting Standards (RAS), reported the press-centre of ОАО "IDGC of Urals".
 
- Revenues from services in 2009 totaled USD 1 299.9 mln. [1] (in USD -10.0%, in RUR +14.8%).

- 2009 expenses reached USD 1 152.8 mln. (in U USD -15.4%, in RUR +7.9% on 2008).

Valery RODIN, the Company's CEO, commented: "2009 was a check-out period for the Company in terms of efficiency under severe economic environment. The Urals region was among the regions mostly affected by economic recession that caused a significant decrease of energy consumption. In this severe environment the Company's management focused its efforts on internal resource generation and cost saving, meanwhile ensuring required supply reliability and investment program execution. Energy supply in 2009 totaled 75.8 bln. kWh (-10.5 bln. kWh or -12% on 2008) that is greatly influenced by economic recession and energy consumption decrease by large industrial  consumers (metallurgy and machine-building). Despite it, overall 2009 revenues totaled USD 1.3 bln., net profit - US\\$ 33.2 mln. These positive results were achieved due to a range of measures aimed at increasing the Company's efficiency, including the switch-over of repair, metering and IT services onto non-contracted form".

More detailed information on the Company's financial and operating results can be found here (pdf, 268 kb).

For 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/672).