OGK-4 Reports 26.5% Revenue Upturn in 1H2010
OREANDA-NEWS. August 16, 2010. OGK-4’s revenue rose by 26.5% in 6M2010, up to RUB 24.8 bn. COGS went up 15.3% to RUB 18.8 bn. Gross income grew 1.8x to RUB 5.99 bn. Pre-tax income inched up 0.5% to RUB 5.63 bn. In the reporting period, the genco incurred a RUB 762 mn paper loss due to FX differences, compared with a RUB 1.42 bn paper income in 1H2009.
The company previously projected its 1H2010 net income to rise 8.6% y-o-y to RUB 4.56 bn. OGK-4 includes the Surgut GRES-2, the Berezovskaya, the Smolensk, the Shatura and the Yavinskaya GRESes, with a total capacity of 8.63 GW. German-based E.ON controls 78.3% of the genco.
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