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26 May 2010

ÎÀÎ “IDGC OF URALS”: 2009 IAS REVENUES TOTALED US$ 1.5 bln.

Ekaterinburg (Ural Federal District, Russia) - ÎÀÎ "IDGC of Urals" (RTS and MICEX: MRKU) reports on 2009 results prepared under International Accounting Standards (IAS)

2009 revenues totaled US$ 1 511.7 mln. (-9.5% on 2008). 2009 expenses totaled 1 413.2 mln (-12.5%).

Operating profit in 2009 totaled US$ 102.6 mln (+88.4% on 2008), operating margin - 6.8%. Pre-tax profit totaled US$ 75.7 mln. (+124.6%).

Net profit totaled US$ 61.7 mln. (+53.0%), net margin - 4.1%.

Table 1. 2008 and 2009 financial results, US$ thous.

Item

2009

2008

Changes, %

Revenues from services, US$ thous. [1]

1 511 668.9

1 670 419.1

-9.5%

Expenses, US$ thous.

1 413 169.6

1 616 054.3

-12.5%

Operating profit, US$ thous.

102 625.2

54 466.9

+88.4%

Operating margin

6,8%

3,3%


Pre-tax profit, US$ thous.

75 708.8

33 713.3

+124.6%

Net profit, US$ thous.

61 655.8

40 309.5

+53.0%

Net margin

4,1%

2,4%


[1] Here and henceforth currency conversions are based on average exchange rates: 2009 - RUR 31,77, 2008 - RUR 24,9.

For 2009 accounting statements prepared under International Accounting Standards (IAS), please, visit our corporate web-site at "Financial Statements" section (or follow the link: http://www.mrsk-ural.ru/en/673 ).

Download IR release (pdf, 190 kb)

_________________

ÎÀÎ "IDGC of Urals"(est. in February 2005) is grids company responsible for energy transmission and technological connection of consumers to electric networks in Sverdlovsk, Chelyabinsk and Perm regions.

Electric network reform process in the Urals came to an end in April, 2008, and since May 1, 2008 ÎÀÎ "IDGC of Urals" is a united operating company exercising control over 3 regional subsidiaries (Sverdlovenergo, Chelyabenergo and Permenergo) as well as 3 core-asset affiliated companies (ÎÀÎ "Ekaterinburg Electric Grid Company", ÎÀÎ "Ekaterinburgenergosbyt").

Common shares are traded on MICEX (Quotation list "B") and in RTS (Stock admitted for trading without listing). Free float is about 20%. In December, 2009 Consortium "RID-Expert RA" assigned us Corporate Governance rating at level "6+".

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

IR Department

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


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