TGK-13 plans to boost RAS net profits this year
KRASNOYARSK. July 23 (Interfax) - Generating company OJSC Yenisei TGK , or TGK-13, which is the Krasnoyarsk branch of the Siberian Generating Company (SGC) group, plans to increase its net profits to Russian Accounting Standards (RAS) 120% to 2.462 billion rubles this year, company materials say.
The genco's sales revenues will contract 47.4% to 15.21 billion rubles as the company's contribution to total Siberian generation drops almost by half to 3.33%.
TGK-13 was established in 2006 as a result of the merger of the main generating assets in the Krasnoyarsk territory and the Republic of Khakassia. Siberian Energy Investments Ltd., which controls the generating business of Andrei Melnichenko, the main owner of OJSC Siberian Coal Energy Company (SUEK), holds the largest stake of the company's shares (61.34%). OJSC Sibenergoholding owns 13.63%.
Siberian Energy Investments Ltd was established in 2009 to manage OJSC Kuzbassenergo and TGK-13, which are controlled by OJSC SUEK. Siberian Energy Investments Ltd has reorganized its energy assets and on their basis created 16 independent companies and two branches. These two branches - Kuzbass and Krasnoyarsk - carry out the operational management of the spun-off entities. TGK-13, which kept the second and third Krasnoyarsk Combined Heat and Power Plants (CHPP), the Minusinskaya CHPP and the Abakanskaya CHPP in its structure, became part of the Krasnoyarsk branch.
TGK-13 made net profits to Russian Accounting Standards (RAS) of 1.099 billion rubles last year versus 1.452 billion rubles in net losses the year before. The company's 2012 sales revenues were up 38.6% at 28.45 billion rubles.
Siberian Energy Investments has a 61.92% stake in the genco, OJSC Sibireneroginzhiniring 13.63%.