Net loss OGK-6 for 2008 under IFRS amounted to 829.4 millionrubles
Net loss of OJSC OGK-6 for 2008 under IFRS amounted to 829.4 million rubles against 1.546 billion rubles of net profit in 2007.
the company's revenues for 2008 increased by 20% compared to 2007 and reached 42 275 million rubles (35 333 million rubles in 2007). The main factors of revenue growth of 20% was the continued liberalization of the electricity market and power, as well as the growth of free electricity prices for almost the entire year.
In 2008, the loss from operating activities amounted to 2.568 billion rubles against the profit of 2.901 billion rubles in 2007.
Proceeds from sales of electricity and the power of free market prices rose by 165% and their share in total sales reached nearly 30% compared with 13% a year earlier, said OGK-6.
However, the increase in costs devaluated effect of revenue growth. To increase spending on current activities influenced by two main factors:
- increase in fuel prices;
- depreciation of fixed assets of $ 1 971 million rubles as a result of the revaluation of fixed assets as at 01.01.2008 and 31.12.2008.
Faced with a significant increase in fuel prices, the company concentrated its efforts on reducing fuel costs through negotiations to conclude a long-term contracts for coal, as well as by optimizing the fuel mix - said General Director of OAO WGC-6 Alexei Mityushov.
The main results of the company
| Name of target | Period | Change (%) | |
|---|---|---|---|
| Financial Indicators (in thousands of rubles.) | 2008 | 2007 | ; |
| Revenue | 42 275 050 | 35 333 819 | 20% |
| Operating Expenses | -44 687 693 | -32 801 688 | 36% |
| Other operating (expenses) /income | -155 796 | 369 058 | -142% |
| (Loss) /profit from operating activities | -2 568 439 | 2 901 189 | -189% |
| Financial income | 829 010 | 25642 | 3133% |
| Financial expenses | -357 907 | -606 935 | -41% |
| (Loss) /Profit before tax | -2 097 336 | 2 319 896 | -- 190% |
| Income /(expense), tax expense | 1 267 933 | -773 293 | 264% |
| (Loss) /profit for the year | -829 403 | 1 546 603 | -154% |
| (Loss) /profit on ordinary share - basic /(th) and diluted /(th) (USD per share) | (0,0257) | 0,0578 | -154% |
| performance | ; | ; | ; |
| generate electricity mln.kVtch | 38 857 | 34 065 | 14% |
| Holidays heat, Gcal | 4 350 | 4 321 | 0% |
| The utilization of installed capacity (KIUM) | 49% | 43% | 6 PP |
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The glass half empty or still is?
Trends in Forex during the day once again will be determined by the situation in the capital stages
Review of the FOREX market for 17.06.09
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