In the first quarter of 2013 OJSC Irkutskenergo’s revenue (RAS) totals RUB 20.448 bln

In the first quarter of 2013 OJSC Irkutskenergo’s revenue (RAS) totaled RUB 20.448 bln, which is 1.56 percent lower than in the same period in the previous year; the cost of sales amounted to RUB 14.986 bln (- 3.3% year-on-year); gross profit totaled RUB 5.462 bln (+3.4% year-on-year), while net profit totaled RUB 3.461 bln (a 8.8% year-on-year decrease).

During the period from January through March 2013, the Company’s power plants reduced their electricity output by 4.1% compared to the first quarter of 2012 to 15,671.2 GWh. Irkutskenergo’s HPPs produced 10,217.7 GWh (a 1.3% increase), while the CHPPs generated 5,453.5 GWh (a 13% decrease). Heat output at CHPPs decreased by 2.7% to 8,836.4 thousand GCal.

Evgeny Fedorov, CEO of OJSC Irkutskenergo: “A year-on-year increase in gross profit was achieved through efficient cost management as CHPPs reduced their electricity output. At the same time, the Company’s net profit decreased due to the creation of provisions for uncollectible accounts receivable in the wholesale market in relation to electricity supply companies forming part of the Energostream group.”

Press service of OJSC Irkutskenergo

April 26, 2013
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