OJSC "OGK-2" presented unaudited interim Financial statement for three months of 2010, ended 31 March 2010, prepared in accordance with International Financial Reporting Standards (IFRS).
Revenue of the Company for the three months of 2010 increased by 49% in comparison to 1st Quarter of 2009 - up to 14 682 mln RUR. Revenue from sales of electricity and power following the three - month results of 2010 is 14 278 mln RUR, what is 50% higher than the revenue for the 1st Quarter of 2009 (9 505 mln RUR). Herein revenue from sales of power increased by 15% and figures up 365 mln RUR. Revenue growth is stipulated by liberalization of wholesale market for electricity and power, and, therefore, increase in sales volume of electricity and power in the result of competitive procedure and free bilateral treaties, and, moreover, growth of weighted average realization price for electricity and power at non - regulated contracts for electricity and power. Operating expenses increased up to 12 638 mln RUR (by 40%), in particular, because of expenses on fuel.
Profit before income tax increased 2,8 times - and figures up 1 869 mln RUR, profit for the period (net profit) is 1 472 mln RUR, what 3,2 times higher than for the 1st Quarter of 2009.