OGK 2 : RAS Net Profit for the 1H 2018 grew by 8.5%

OGK-2 RAS Net Profit for the 1H 2018 grew by 8.5%
27.07.2018

OGK-2 releases its Accounting Statements for the 1H 2018, prepared in accordance with Russian Accounting Standards (RAS).

Key Highlights of the Statement of Financial Results (mn RUR)	1H 2017	1H 2018	Change(%)	Change(∆)
Revenue	69,716	69,860	+0,2%	+144
Cost of sales	(57,548)	(56,922)	-1,1%	-626
Gross profit	12,167	12,938	+6,3%	+771
Net profit	6,919	7,506	+8,5%	+587
EBITDA	15,530	16,107	+3,7%	+577

Company revenue for 1H 2018 totaled RUR 69 bln 860 mn, increasing by 0.2% year-on-year. The revenue dynamics were considerably influenced by growing revenue from capacity sales. Cost of sales amounted to RUR 56 bln 922 mn. The change resulted from fuel cost optimization.

EBITDA increased by 3.7% year-on-year, up to RUR 16 bln 107 mn.

Gross profit totaled RUR 12 bln 938 mn (+6.3%). Net profit grew by 8.5% to 7 bln 506 mn.

Detailed information about OGK-2 performance for the 1H 2018 in accordance with RAS is available at the company's website in the RAS Accounting Reports section.

For reference:

OGK-2 is a leading heat generator comprising 11 active power plants. The Company includes: Adlerskaya TPS, Kirishskaya State District Power Plant, Krasnoyarskskaya State District Power Plant 2, Pskovskaya State District Power Plant, Novocherkasskskaya State District Power Plant, Ryazanskaya State District Power Plant, Serovskaya State District Power Plant, Stavropolskaya State District Power Plant, Surgutskaya State District Power Plant 1, Troitskskaya State District Power Plant, Cherepovetskaya State District Power Plant.The Company's controlling shareholder is 'Gazprom Energoholding' LLC (100% subsidiary of 'Gazprom' JSC).