August 09, 2008

HydroOGK profit in 2007 up by 470% YoY

RIA Novosti reported that Russian Russia's largest hydroelectric power company HydroOGK net profit calculated to Russian Accounting Standards grew by 470% YoY in 2007 to RUB 8.62 billion (USD 365 million).

HydroOGK which unites about 50 hydropower plants across Russia with installed capacity of 25,000 MW said that its revenues in the reporting period climbed by 660% YoY to RUB 41.80 billion (USD 1.8 billion), production costs grew by 459% YoY to RUB 33.29 billion (USD 1.4 billion) and pre tax profit rose by 629% YoY to RUB 10.88 billion (USD 461 million).