OGK-6 Net Profit Reaches 2.4 bln Rubles in 2009 (IFRS)

OGK-6 Net Profit Reaches 2.4 bln Rubles in 2009 (IFRS)

The company revenues in 2009 reduced 1% compared to 2008 to 41,9 bln rubles. The operating expenses fell 14% in 2009. Operating profit reached 3,4 bln. rubles. Net profit in the reported period amounted to 2,4 bln rubles compared to 829 mln rubles of losses in 2008.
The company revenues fell 1% compared to 2008 due to the general decrease in electricity demand.
The reduction of operating expenses by 14% was caused by the change in the Company fuel mix, as well as by the decrease in electricity production.
JSC "OGK-6" was founded on March 17, 2005 within the framework of the Russian electric power industry reform. The core business of JSC "OGK-6" is electric and thermal power generation as well as supply&sales to consumers. The primary market for sales of the products of the Companyis the wholesale electricity (capacity) market.
The total electric installed capacity of JSC “OGK-6” plants amounts to 9,052 MW. This renders JSC “OGK-6” the fourth largest company by installed capacity size among all OGKs and TGKs created as a result of the reform of electric power industry in Russia.
The JSC “OGK-6” shares are traded at Russian MICEX and RTS. In July, 2008 the GDR program under Reg S and Rule 144A of JSC “OGK-6” shares was opened by Deutsche Bank Trust Company Americas.