Managers of the Company gave comments on the production and financial results of 2009, including the IFRS, RAS reporting results for 2009. In accordance with the published IFRS reporting the Company revenue for 2009 amounted to 49,3 bln Rubles, the growth with regard to 2008 — 12,78 %.
Pavel Akilin noted: “In 2009 the Company revenue was growing by lower rates than the operational expenses, what is grounded by the productive supply decrease within the crisis year 2009. However, IDGC of Centre was bearing all planned expenses for ensuring reliable and uninterrupted power supply in full. The costs management program had been developed which brought the Company 1 bln Rubles in 2009“.
Traditionally investors were interested in issues of implementation of RAB-tariff regulation in the regions of the Company operation. According to Sergey Arkhipov’s words, the estimate conducted by the independent appraiser and negotiations with regulators give the forecast IRAB value of the Company in the amount of 118 bln Rubles. “In new tariff making system the management goal is not to allow reduction of the regulated assets base (RAB) by means of investments at the level which is not lower than the return of capital approved by the regulator”, — Sergey Arkhipov, First Deputy General Director, emphasized.
After the official part in the course of informal communication the participants of the meeting exchanged opinions concerning development prospects of IDGC of Centre and the power industry.