Total assets of the Group of OGK-1 in the period from January to June 2009 increased by 1,8% and amounted to 50.8 billion rubles. Of these, the cost of fixed assets amounted to 35.8 billion rubles (4.8%).

Current assets totaled 15 billion rubles, or 4.8% lower than that at the beginning of 2009 is primarily attributable to the reduction of accounts receivable in advance of the issued, the report said OGK-1.

receivable for the period decreased by 1.4 times - up to 3.1 billion rubles. Meanwhile, due to the deterioration of payment discipline in the electricity market and power receivables grew by 47,9% and amounted to 2.1 billion rubles. Net assets of the WGC-1 from January to June 2009 increased by 7,2% to 35.2 billion rubles.

Total liabilities for the period decreased by 8,6% and amounted to 15.6 billion rubles. Changes related to repayment of short-term loans.

In the first half of 2009, work was undertaken to optimize the loan portfolio and reduce the debt load the company: the volume of loans in the first half of 2009 decreased by 1.8 billion rubles (17%) and amounted to 8, 85 billion rubles. As a result of this fact, as well as increased rate EBITDA, Debt /EBITDA ratio has decreased from 2,5 to 1,53.

As at July 1 half-year 2009 net debt of the Group of OGK-1 significantly decreased and amounted to -0.2 billion rubles, indicating that full coverage of existing debt in cash

Revenue OGK-1 for 1 half of 2009 amounted to 23.3 billion rubles, or 6.1% less than in the first half of 2008 The main reason for the decline of this indicator was optimized formulation plants of OGK-1 due with falling consumption in the regions where the power station and the unloading of the priority of thermal generation, and reducing competitive prices in the free sector of the electricity market.

costs of the current activities of the Group of OGK-1 for 1 half of 2009 decreased by 12,5% to 21,0 billion rubles. Higher rate of cost reduction compared with the rate decreasing revenues due, mainly, the reduction of variable and fixed costs.

Financial income for the first six months of 2009 totaled 0.2 billion rubles, as against 0.1 billion rubles of financial expenditure for the same period in 2008

In connection with the more rapid decrease in cost compared with a decrease in revenue earnings from continuing operations of the Group of OGK-1 for 1 semester of this year increased compared with the same exponent 1 half of 2008 by 196% to 2.2 billion rubles.

Profit before tax of the Group of OGK-1 for January - June 2009 increased by 284% over the same period of 2008 and amounted to 2.4 billion rubles. Income tax on profit in 1 half of 2009 increased by 39% to 0.5 billion rubles.

Net profit of the Group of OGK-1 for the first half of 2009 rose by 564%, amounting to 1.9 billion rubles, as against 291 million rubles of net profit obtained in the same period in 2008

cash inflows from operating activities of the company during the reporting period grew 8.2 times to 4.3 billion rubles, which have a positive impact on the liquidity of the Group of OGK-1.
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