IR Releases


LENENERGO released its 1H 2011 financial statements under Russian Accounting Standards

The balance value at the end of the first half of 2011 amounted to RUR 90,652 mln. As compared to the first half of 2010 the total amount of the Company's assets and sources of its formation has grown by RUR 5,066 mln (+5.9%).

Revenue of the Company's activity in the first half of 2011 constituted RUR 18,727 mln, that is 17.8% higher than in 2010. At the same time the Company's revenue from electric power transmission in 2011 increased by 32.0%, whereas from technological connection it decreased by 17.4%. The growth in revenue from electric power transmission is associated above all with the increasing rates of electrical networks maintenance, as well as with a significant increase in the transmission volumes. The decrease in revenue from the services on technological connection was mainly due to lower revenues on property agreements.

EBITDA for 1H 2011 amounted to RUR 4,746 mln, which is 1.1% higher than in 2010.

Equity for 2010 increased by 5.7% and constituted RUR 52,420 mln, which is associated with the growth of total financial result of past years.

Net profit for the first half of 2011 amounted to RUR 1,209 mln and decreased by 25.4% over the same period of 2010, due to outstripping growth of the prime cost as compared to the revenue growth.

ROE totaled 2.24% and decreased as compared to 2010 by 1.1 p.p., due to the multi-directional change in net profit and equity. Accounting statements of JSC "Lenenergo" for 2010 are available on the Company's website in the Section "Obligatory Information Disclosures".