10 August 2009

ОАО “IDGC of Urals”: 1H 2009 Revenues totaled US$ 617.3 mln.

Ekaterinburg (Ural Federal District, Russia) - ОАО "IDGC of Urals" (RTS and MICEX: MRKU) reports on the 1H 2009 results under Russian Accounting Standards (RAS)

- Revenues from services in 1H 2009 totaled US$ 617.3 mln. ^[1] (-16.9% on 1H 2008).

- 1H 2009 expenses reached US$ 556.1 mln. (-22.3%).

Table 1. Financial result of OAO "IDGC of Urals" as of 1H 2008 and 2009.^[2]

^[1] Figures in dollar terms are shown just for information. Due to high 1H 2009 ruble devaluation, the figures in dollar differ greatly from those in ruble terms and they distort the real economic situation.

^[2] For better comparison here and henceforth financial and economical figures as of 1H 2008 are calculated as the sum of the results by managing company OAO "IDGC of Urals" and OAO "Permenergo", OAO "Sverdlovenergo", OAO "Chelyabenergo".

^[3] EBITDA is calculated according to the following formula: net profit + income tax and other obligatory payments + interest payable + depreciation and amortization.

* Here and henceforth currency conversions are based on average exchange rates: 1H 2009 - RUR 33.3, 1H 2008 - RUR 23.9.

Table 2. 1H 2009 Operating Results:

More detailed information on the Company's revenues and expenses as well as operating results can be found here (pdf, 305 kB).

For 1H 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/356).

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