Publication date: 16.05.07
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OGK-4 1Q07 NET PROFIT, ACCORDING TO RAP, IS 724.3 MILLION RUBLES

In 1Q07, the net profit of Generation Company Four of the Wholesale Power Market (OGK-4), as calculated according to the Russian Accounting Principles (RAP) was 724.3 million rubles.

 

In January-March 2007, OGK-4's sales revenue (for goods, products, work, and services) was 7,968,900,000 rubles. In this connection, the product costs in the reporting period were 6,880,700,000 rubles.

 

In 1Q07, OGK-4's sales profit was 1,088,200,000 rubles, while the profit before tax was 1,008,800,000 rubles.  

 

Comparing OGK-4's financial performance in 1Q07 with 1Q06 would be incorrect. OGK-4 was registered as a corporate entity on March 4, 2005, and its main economic operations from September 1, 2005, to July 1, 2006, involved carrying out functions of a sole executive body. From July 1, 2007, when the Company completed its reorganization by taking over Surgutskaya TPP-2, BTPP-1, Shaturskaya TPP-5, Smolenskaya TPP, and Yayvinskaya TPP, OGK-4 has operated as a unified production company.