IR Releases

21.03.2012

JSC “LENENERGO” published financial reporting for 2011 under Russian Accounting Standards

Key indicators of Lenenergo performance for 2010 - 2011:

Indicator Unit of measurement 31.12.2010 31.12.2011 Δ in %

2011/2010
Productive supply of electric power mln kWh 29 095 28 975 -0.41%
Losses of electric power % 10.71% 10.60% -0.11%
Connected capacity kW 645 279 320 637 -50.31%
Revenue from sales of production, including: RUB mln 34 201 37 009 8.21%
- From electric power transmission services RUB mln 23 873 28 526 19.49%
- From grid connection services RUB mln 10 164 8 311 -18.23%
- From other industrial activity RUB mln 164 172 4.88%
Cost RUB mln 27 488 31 758 15.53%
Gross profit RUB mln 6 713 5 252 -21.76%
Profit before taxation RUB mln 5 282 2 361 -55.30%
Net profit RUB mln 3 806 1 417 -62.77%
For reference:
ROE % 7.80% 2.54% -5.26%
EBITDA RUB mln 10 356 8 630 -16.67%
EBITDA margin % 30,28% 23,32% -6.96%
Net Debt*/EBITDA - 1,39 2,34 -
Investment program (disbursement) RUB mln 15 813 15 061 -4.76%

In 2011, revenue of JSC Lenenergo totaled RUB 37 009 mln, including revenue from electric power transmission of RUB 28 526 mln, and revenue from grid connection of RUB 8 311 mln.

In 2011, cost reached RUB 27,758 mln, sales profit – RUB 6 442 mln, profit before tax – RUB 5 012 mln, and EBITDA – RUB 8 630 mln.

Capital investments of JSC Lenenergo in 2011 totaled RUB 15 061 mln, of which RUB 8 309 mln were directed on new construction. In 2011, the Company commissioned 996 MVA of new capacity; the capacity growth totaled 792 MVA.

Productive supply of electric power to the grid in 2011 amounted to 28 975 mln kWh. The amount of electric power losses in networks of JSC Lenenergo in 2011 decreased by 0.12 percentage points to 10.6% of the total supply to the grid. The Company is implementing a program to reduce electric power losses in the networks, in accordance with which the target level of electric power losses in the networks of JSC Lenenergo in 2015 shall be 9.1%.