March 03, 2014 17:00
RusHydro expects to maintain, even improve financials in 2014
MOSCOW. March 3 (Interfax) - OJSC RusHydro (MOEX: HYDR), which operates the majority of Russia's hydroelectric power plants, predicts that its financial indicators for this year will be like last year's or even better, chairman of the RusHydro management board Yevgeny Dod told the press on Monday.
"The maintenance, or better, the improvement of the financial indicators and parameters across the holding and the optimization of the work of the Far East," he predicted. "We plan no mega-deals, a regime of economization," he said.
Among the holding's priorities for this year are completing the reconstruction of the Sayano-Shushenskaya hydroelectric power plant (GES), replenishing the Boguchany GES (MOEX: BGES) reservoir, reconstruction after the accident at Zagorsk 2 hydroelectric pumped-storage power station (GAES), and a program for technical re-equipping and reconstruction.
RusHydro increased its earnings before interest, taxes, depreciation, and amortization (EBITDA) to Russian Accounting Standards (RAS) by 26% to 61.8 billion rubles last year, and its adjusted net profits 40% to 40.9 billion rubles.
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