OGK 2 : IFRS Profit for the 9 months of 2018 down by 0.3%

OGK-2 IFRS Profit for the 9 months of 2018 down by 0.3%
16.11.2018

OGK-2 releases interim abbreviated consolidated unaudited Financial Statements for the 9 months ended September 30, 2018, prepared in accordance with International Financial Reporting Standards (IFRS).

Highlights of the Consolidated Income Statement (mn RUR)	9М 2017	9М 2018	Change (%)	Change (∆)
Revenue	103,690	105,272	+1.5%	+1,582
Operating Expenses	(88,979)	(91,043)	+2.3%	+2,064
Operating Profit	13,978	12,883	-7.8%	-1,095
EBITDA*	22,329	22,487	+0.7%	+158
Profit for the Period	7,672	7,650	-0.3%	-22

* EBITDA= Operating profit + Depreciation and Amortization.

The Group revenue for 9M 2018 totaled RUR 105,272 mn, up by 1.5% year-on-year.

Operating expenses totaled RUR 91,043 mn, growing by 2.3% year-on-year, among other factors, on the account of depreciation and amortization.

Thus, operating profit decreased by 7.8% year-on-year down to RUR 12,883 mn. EBITDA totaled RUR 22,487 mn, slightly up year-on-year. Profit remained flat year-on-year at RUR 7,650 mn.

The detailed information about OGK-2 performance the 9 months of 2018

in accordance with IFRS is available at the company's website in the IFRS Financial Reports section.

For reference:

OGK-2 is a leading thermal generator, including 11 power plants. The Company includes: Kirishskaya State District Power Plant, Krasnoyarskskaya State District Power Plant 2, Pskovskaya State District Power Plant, Novocherkasskaya 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 and Adlerskaya TPS. The Company's controlling shareholder is 'Gazprom Energoholding' LLC (100% subsidiary of 'Gazprom' JSC).