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10 April 2009

ОАО “IDGC OF URALS”: 2008 RAS RESULTS

April 10, 2009 (Ekaterinburg) - ОАО "IDGC of Urals" (RTS and MICEX: MRKU), united operating company of the Urals region exercising control over distributive grid complexes in Sverdlovsk, Chelyabinsk, Kurgan and Perm regions - reports on 2008 financial and operating results under RAS.

Table 1. Consolidated financial result of united operating company in 2007 and 2008.[1]

Item

2007

2008

Change, %

Revenues from services, US$ thous.*

1 276 404.9

1 444 365.7

+13.2 %

Expenses, US$ thous.

1 168 574.6

1 363 340.2

+16.7 %

Operating profit, US$ thous.

107 830.2

81 025.5

-24,9 %

Operating margin

8.4 %

5.6%

 

EBITDA[2] ,US$ thous.

107 515.1

138 800.8

+29.1%

EBITDA margin

8.4%

9.6%

 

Pre-tax profit, US$ thous.

43 387.7

51 744.0

+19.3 %

Net profit, US$ thous.

36 776.8

34 622.0

-5.9%

Net margin

2.9%

2.4 %

 

[1] Here and henceforth financial and economical figures as of 2008 are calculated as the sum of the results by managing company ОАО "IDGC of Urals" and ОАО "Permenergo", ОАО "Sverdlovenergo", ОАО "Chelyabenergo" in January-April  2008 (prior to the merger) and the results of united operating company in May-December 2008 (following the merger). For better comparison, the managing company results as of 2007 also include results of Permenergo, Sverdlovenergo and Chelyabenergo.

[2] EBITDA is calculated as follows: net profit + income tax and other obligatory payments + interest payable + amortization and depreciation.

* Here and henceforth currency conversions are based on average exchange rates: 2008 - RUR 24.9 and 2007 - RUR 25.6.

Table 2. Operating results as of 2008:

Item

2008

Network and equipment

Aerial lines, km

122 342

Cable lines, km

4 840.1

Quantity of transformer substations PS-35/110-220 kW

999

Installed capacity of transformer substations PS-35/110-220 kW, МVА

20 327.0

Quantity of transformer substations TP-6-20/0.4 kW

27 213

Installed capacity of transformer substations TP-6-20/0.4 kW, МVА

7 129.5

Energy supply and losses

 

2007

2008

Change, %

Energy supply, mln. kWh.

86 093.8

86 365.8

+0.3%

Productive supply, mln. kWh.

79 118.9

79 902.0

+1.0%

Energy losses, mln. kWh.

6 974.9

6 463.8

-7.3%

More detailed information on the Company's revenues and expenses can be found here.

For full accounting statements prepared under Russian Accounting Standards (RAS), please, visit our corporate web-site at "Financial Statements" Section (www.mrsk-ural.ru).

For additional information on the Company, please, visit the Company's corporate web-site (www.mrsk-ural.ru) as well as Complex Information Disclosure System (www.skrin.ru),    Interfax (www.interfax.ru) and AKM (www.akm.ru).

IR Department

Tel./ Fax: (343) 215 26 58/ 215 25 84

IR@mrsk-ural.ru


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