OGK-2 IFRS EBITDA in 2017 will not be lower than 2016
MOSCOW. August 28 (Interfax) - OGK-2's earnings before interest, taxes, depreciation and amortization (EBITDA) to International Financial Reporting Standards (IFRS) in 2017 will not be lower than 2016 levels, OGK-2 Head Accountant Larisa Klishch told investors and analysts during a conference call.
"We do not expect to sink below 2016," she said. The company posted 19 billion rubles in EBITDA in 2016.
EBITDA was already at 17 billion rubles through the first seven months of 2017.
The forecast was made given that the company must complete the maintenance program and has certain factors associated with reserves, along with other considerations, Klishch said.
OGK-2 accounts for about 7% of the power generated in Russia. It consists of 11 power plants: Adlerskaya Thermal Power Plant, Kirishskaya District Power Plant (GRES), Krasnoyarskaya GRES-2, Pskovskaya GRES, Novocherkasskskaya GRES, Ryazanskaya GRES, Serovskaya GRES, Stavropolskaya GRES, Surgutskaya GRES-1, Troitskskaya GRES, and Cherepovetskaya GRES. Gazprom Energoholding is the controlling shareholder.