26 Apr 2019 16:13

OGK-2 genco boosts net profit to RAS 32.8% to 6.5 bln rubles in Q1

MOSCOW. April 26 (Interfax) - OGK-2 boosted net profit to Russian Accounting Standards (RAS) 32.8% year-on-year in Q1 2019 to 6.5 billion rubles, the generating company said in financial reporting.

EBITDA grew 21.6% to 11.5 billion rubles.

Revenue fell, by 4% to 37.4 billion rubles due to optimization of operating activity, the company said. Cost of sales fell 8.9% to 28.5 billion rubles.

The company had 16.1 billion rubles on its accounts at the end of the period.

Short-term receivables were 14.1 billion rubles and long-term were 0.6 billion rubles.

Long-term borrowing was 29.3 billion rubles and short-term - 8.5 billion rubles.

Gazprom EnergoHolding's OGK-2 generates around 7% of Russia's electricity and comprises 11 branches: Adler thermal power plant and Kirishi, Krasnoyarsk-2, Pskov, Novocherkassk, Ryazan, Serov, Stavropol, Surgut-1, Troitsk and Cherepovetsk state district power plants.