3 Apr 2012 12:15

TGK-9 posts net loss to RAS in 2011

PERM. April 3 (Interfax) - Perm-based territorial generating company TGK-9 , which is part of IES Holding, posted net losses to Russian Accounting Standards (RAS) of 5.7 billion rubles in 2011, compared to net profit of 474.5 million in 2010, the company reported.

The report does not disclose the reason for the loss.

Revenue climbed 3% to 47.4 billion rubles. Electricity sales revenue was 17.8 billion rubles, an increase of 21.1%, while sales of thermal energy amounted to 23.2 billion rubles, down 2.4%.

TGK-9 financial highlights ('000 rubles):

	2011	2010
Sales revenue	47 454 561	46 064 392
Cost of sales	46 409 180	43 388 786
Gross profit	1 045 381	2 675 606
Operating profit	1 045 381	2 675 606
Pretax profit	(7 008 953)	903 125
Net profit	(5 682 297)	474 529

TGK-9 runs power plants in the Sverdlovsk region, the Perm territory and the Republic of Komi with installed capacity of 3.279 GW for electricity and 16,866 Gcal/h heat.