E.ON Russia publishes financial statements under the RAS for 2011

E.ON Russia JSC publishes the financial statements prepared in accordance with the Russian Accounting Standards (RAS) for 2011.

 

The company's revenue amounted to 67.3 billion roubles having increased by 25.1% as compared to 2010. Production costs increased by 18.5% and amounted to 48.2 billion roubles. Profit before taxes increased by 46.6% up to 18.5 billion roubles.

 

Net profit of E.ON Russia JSC amounted to 15 billion roubles under RAS in 2011 which is 44.6% more than in 2010.

 

Growth in revenue and profitability of E.ON Russia is primarily attributed to commissioning of the new more effective power units at Shaturskaya GRES, Surgutskaya GRES-2 and Yaivinskaya GRES. As a result of the commissioning of the new power units with the higher load of the modernized units of Berezovskaya GRES the electric power generation of E.ON Russia increased by 12% in 2011 and amounted to 62.5 billion kWh. Besides, the following factors had impact on the company's indicators growth: the company's cost optimization, high availability of equipment, and rise in prices at the wholesale electric power market.