Annual General Meeting of OAO Irkutskenergo Shareholders in Irkutsk, June 24, 2011
On June 24, 2011 annual general meeting of shareholders of OAO Irkutskenergo took place in Irkutsk. The shareholders’ attendance amounted to 94.82 %. The shareholders made the following decisions:
• Approve the annual report, annual financial statements, including the profit and loss statement (profit and loss accounts), distribution of Company’s profit following the results of the fiscal year. In particular:
Energy production in 2010 totaled 61.4 bln kWh, which is 4.6 bln kWh more year-on-year. The supply of heat energy from reservoir units totaled 25,768.0 thousand Hcal (increased year-on year by 341.7 thousand HCal). Productive supply of electricity in 2010 increased by 4.5 bln kWh year-on-year and comprised 58.8 bln kWh; productive supply of heat energy to customers —23,003.4 thousand Hcal, which is 265.6 thousand Hcal more year-on-year.
In 2010, revenue from energy sales totaled 52.35 bln RUR and increased by 4.45 bln RUR (+9%) as compared to planned index. Profit from heat energy sales totaled 12.42 bln RUR (+4% of the plan); from selling energy and self-produced capacity — 27.79 bln RUR (+13% of the plan); from selling purchased energy —11.63 bln RUR (+10% of the plan). Production costs of commodities, products, works and services totaled 38.98 bln RUR (+4% of the plan); taxes — 4.25 bln RUR (+19% of the plan). EBITDA index was bigger than the planned for 2.92 bln RUR (+23% of the plan). The net profit of the Company in 2010 equals 9.46 bln RUR (+5.87 bln RUR year-on-year).
Actual implementation of investment in 2010 totaled 4.32 bln RUR. The total volume of investment in 2010 increased twice in comparison with the level of 2009. Main share of capital investments consists of investment in reliability program (68% from total investment volume) and in efficient projects (19%). Implementation of energy consumption deficit coverage program (generating capacity development program) which started in 2008, continued in 2010 and it amounted to 2.95 bln RUR. This amount has been transferred at the procedures on HPP reliability increase, including this increase after the Sayano-Shushenskaya HPP accident (RUR 130 mln). Application of funds on efficient projects totaled RUR 821 mln. Following projects have been completed: project on replacing 6 rotor wheels at BHPP; construction of heat network under large efficiency project Maliy Yug; Installation of new turbine unit R-6-3.4/0.5-1; reconstruction of turbine unit at CHPP-9 with capacity increase of up to 10 MW. Also, investment projects on development of generating capacities at CHPP-11, N-I CHPP, N-Z CHPP, providing general increase of installed capacity of up to 220 MW.
• Distribute the 2011 profit in the amount of 9.46 bln RUR, received by OAO Irkutskenergo following the 2010 results for the following purposes: for investment activities and production purposes — 1.02 bln RUR; for the implementation of innovative development program (NIOKR) — 1.53 bln RUR; regional social events — 125 mln RUR; payment of remuneration for work in the Board of Directors — 6 mln RUR; replenishment of working capital — 6.23 bln RUR.
• General meeting of shareholders made decision to pay the annual dividend for regular shares of OAO Irkutskenergo — 554.86 mln RUR — with 0.1164 RUR per one share no later than in 60 days since the made decision.
• The general meeting of shareholders elected new 11 members of the Board of Directors of OAO Irkutskenergo:
1. Igor Ageichev — Deputy CEO, Director for Project Support of LLC EN+ Development;
2. Oled Deripaska — CEO of CJSC RUSAL Global Management B.V.;
3. Evgeny Dod — Chairman of the Board of OJSC RusGidro;
4. Vladimir Kiryukhin — CEO of LLC En+ Development
5. Boris Kovalchuk — Chairman of the Board of OJSC INTER RAO UES;
6. Igor Lerner — Project Manager at LLC En+ Management;
7. Andrey Likhachev — Deputy CEO of LLC En+ Management;
8. Alexander Martynenko — Deputy financial director — Financial controller of OJSC EvroSibEnergo;
9. Alexander Sergeev — Managing Director of LLC En+ Management;
10. Rashid Sharipov — Deputy CEO of LLC KFK-Konsalt;
11. Andrey Shishkin — Deputy Minister of energy of the Russian Federations.
• The general meeting of shareholders approved new 5 members of the Audit Committee of the Company:
1. Galina Lavshuk — Chief Specialist on Corporate Relations and Property of the Legal Department of LLC EvroSibEnergo;
2. Stanislav Legenza — Director of Department of economy and finance of OJSC Krasnoyarskaya HPP;
3. David Pogosbekov — Tax manager; chief accountant of OJSC EvroSibEnergo;
4. Elena Talalykina — Chief accountant; Deputy director of the financial department of OJSC EvroSibEnergo;
5. Irina Travkova — Head of Accounting of Financial Department at LLC EvroSibEnergo.
• The general meeting of shareholders approved LLC FinEkspertiza as the Company’s Auditor for 2011.
• The general meeting of shareholders approved the internal documents regulating the work procedure of management bodies of OAO Irkutskenergo (Regulations on the Board of Directors, Regulations on the Governance, Regulations on the CEO) in new versions.
Press service of OAO Irkutksenergo
June 24, 2011
June 24, 2011