Net profit of FGC UES IFRS in 2012 amounted to 29.956 billion rubles

Operating revenues for the period amounted to 140.313 billion rubles, which is 0.53% higher than in 2011.

RAB tariff regulation has had a positive impact on the development of the Unified National Power Grid. For example, in 2012 the total cost of these objects to fixed assets under IFRS amounted to 162.2 billion rubles.

Commenting on the results for 2012, Chairman of the Board of JSC "FGC UES" Oleg Budargin said:

"If the volume of existing equipment in the company has been steadily declining number of process failures, accidents on the backbone network for the year 2012 has been reduced by 13%. The investment program of the Federal Grid Company in 2012 executed successfully. " A total of 2012 put under strain production capacity at 75 facilities, including 12 facilities ahead of schedule. Permission for 3 643.2 km of transmission lines and 17,827 MVA of transformer capacity.
In the course of implementation of the investment program focused on the effectiveness of the procurement process. For 2012, the rate of cost savings for the launch of the objects was more than 10%.  

Ensure the timely commissioning of the energy infrastructure of Primorsky Krai, the first stage of the ESPO pipeline, which is a strategic public infrastructure projects, as well as objects of power of the 4th unit of Kalinin NPP. In accordance with the schedule of projects on energy supply Vankor group of fields, the 2014 Olympics in Sochi, and others.

First Deputy Chairman of the Board of JSC "FGC UES" Andrew Kazachenkov added:

"Taking into account the factors of tariff revision in 2011, and changes in the period of transition for the annual tariff from January 1 to July 1, 2012, the priority of the Federal Grid Company for the year 2012 was to maintain a balanced financial and economic policies in order to ensure a stable supply of electric power and reliability Unified national electric grid. " Consolidated revenue from operations of $ 140,313 million rubles. Adjusted operating profit in 2012 decreased by 28.1% compared with 2011 to 33,250 million rubles., Primarily due to increased depreciation of fixed assets, as well as a slower increase in revenues due to the postponement of tariff increases .

Consolidated Adjusted EBITDA for 2012 amounted to 82,133 million rubles. Adjusted profit for the period amounted to 29,956 million rubles.

Total debt of the Federal Grid Company amounted to 216,418 million rubles. As of December 31, 2012 as compared to 132,780 million rubles. As of December 31, 2011. Growth was driven by the need to finance large-scale investment program. The company used diversified instruments in the Russian market for new loans: Russian bonds, including those issued in August 2012 a 10-year local bonds worth 10 billion rubles, coupon payments is tied to the consumer price index (CPI), and bank loans . In December 2012, the company has also successfully placed its first Eurobond issue of 17.5 billion rubles. maturing in 2019 and a coupon rate of 8.45%.


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