IR Releases

On 26 January 2011, the telephone conference of JSC "Lenenergo" with the representatives of the company's management was held.

The following persons acted as speakers:



The company's management declared:



- Additional share offering

At present, the item of holding the additional public offering of ordinary shares in 2011-2013 for the total amount of around RUR 10 billion is at the stage of approval by the major shareholders of the company. The time period for holding the additional share offering is 2011-2013.

The company's management also considers an opportunity of the additional offering of preferred shares in favor of the strategic investor. It is assumed that the preferred shares of the new type will be issued, which will prevent the dividend yield from dilution and preserve the shareholders’ rights per the existing preferred shares of the company.

- Financial indicators for 2011 - 2015

The estimated gain in the product sale earnings in 2011-2015 will be 101 % and reach the level of RUR 85.4 billion. The EBITDA indicator will grow from RUR 12.2 billion in 2011 to RUR 41.7 billion in 2015, the return under EBITDA will go up from 28.8 % to 48.8 % accordingly.

The company's net profit based on the results of 2010 is expected on the level of RUR 3.5-3.7 billion and will reach RUR 23.4 billion by the end of 2015. The performed adoption of RAB since 1 January 2011 will ensure generation by the company of the net profit from the main activity - electricity transmission, as from 2013. By the end of the five-year regulation period, the share of the transmission-related net profit will be 90% from the total profit of the company.

- Long-term investment program

The investment program of JSC "Lenenergo" for 2011-2015 passed the approval by the executive authorities of Saint Petersburg and the Leningrad Region in the amount of more RUR 102 billion (without taking into account VAT). The main sources of financing are formed at the expense of the electricity transmission tariff - 67% and at the expense of payment for technological connection - 20 %. The rest 13% will be formed at the expense of the non-tariff sources. They include the funds to be raised as a result of the assumed additional share offering, a part of which will be assigned to finance the investment activities.

The company continues to implement the measures to increase transparency and improve investor relations.

The presentation of JSC "Lenenergo" devoted to the Conference Call is available in more detail in the section Shareholders and Investors.