OGK-5 Posts Over 1 Billion Roubles Income for Q1

18.05.2009 — News

In Q1 2009, OGK-5 OAO improved its net income performance. As compared against January-March 2008, it grew by 69% to reach 1,135 billion roubles.

As the company's representatives told RusBusinessNews, Q1 core earnings were 10,393 billion roubles, a 4% decrease y.o.y. The decrease is explained by lower energy consumption (-7.4% in the European part of Russia, including the Urals) and a price drop that followed.

OGK-5 spent 115 million roubles on its investment programme. In January-March 2009, the company posted a 21 million roubles net income from financial operations.

OGK-5 includes Sredneuralskaya, Reftinskaya, Konakovskaya and Nevinnomysskaya GRES power plants with the total nominal electricity- generating capacity of 8,672 MW and the heat-generating capacity of 2,242 GCal per hour. A 55.86% stake in the company is held by the Italy's power concern Enel Investment Holding B.V.