Enel OGK-5 net profit plunges 60% to 1 bln rubles in H1
MOSCOW. Aug 2 (Interfax) - Enel OGK-5 posted a net profit of 1.029 billion rubles in the first half of 2013 under Russian accounting standards (RAS), down from 2.433 billion rubles in the same period last year, the company said in its earnings report.
Revenue rose 4.5% to 32.732 billion rubles in the six months, up from 31.3 billion rubles a year earlier.
Pretax profit was down 55% to 1.418 billion rubles, down from 3.076 billion rubles.
Payables declined 37% to 6.640 billion rubles from 10.6 billion rubles at the end of 2012. Receivables fell 23% to 8.4 billion rubles.
Registered in Yekaterinburg, Enel's production facilities are the Nevinnomysskaya GRES, the Konakovskaya GRES, the Sredneuralskaya GRES and the Reftinskaya GRES, located for the most part in the Urals, as well as in the center and south of Russia. The company's total installed power capacity is 9,576 MW, and its heat capacity is 2,448 Gcal/h.
Italian Enel owns 56.43% of Enel OGK-5's stock. Another 26.43% belongs to PFR Partners Fund I Limited, 5.12% belongs to the European Bank for Reconstruction and Development (EBRD), and 12.02% belongs to other minority shareholders.
