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13.2 FINANCIAL RESULTS OF THE
HOLDING COMPANY
In 2003, the Holding Company's net profit increased 25% compared to the
previous year.
In the year under review, the revenue from sales of products (works, services)
throughout RAO "UES of Russia" Holding Company calculated in accordance with the
Russian Accounting Standards made RUB724,864.0 million, an increase of RUB145,855.9
million, or 25%, compared to 2002.
Key financial figures of the Holding Company, RUB million
Key financial figures of the Holding Company, RUB million
|
|
| Indicators |
2001 |
2002 |
2003 |
2003/2002,% |
|
| Sales revenue, net |
453,579.6 |
579,008.1 |
724,864.0 |
125.2 |
| Sales expenses, taking into account business and administration costs |
380,512.0 |
-510,421.0 |
-640,306.8 |
125.4 |
| Gain (loss) on sales |
73,067.6 |
68,587.1 |
84,557.2 |
123.3 |
| Return on sales, % |
16.1 |
11.8 |
11.7 |
|
| Operational income and expenses (net), total |
-7,238.7 |
-19,355.8 |
-14,222.5 |
73.5 |
| Profit (loss) from financial and business activities |
65,828.9 |
49,231.3 |
70,334.7 |
|
| Extraordinary items (income and expenses, net) |
-19,683.1 |
2,826.3 |
-12,996.6 |
-459.8 |
| Profit before taxes |
46,145.8 |
52,057.6 |
57,338.1 |
110.1 |
| Income tax |
-32,143.3 |
-25,788.8 |
-25,188.1 |
97.7 |
| Net profit (loss) |
14,002.5 |
26,096.0 |
32,485.3 |
124.5 |
| Rate of net profit (kopecks per RUB1 of sales revenue) |
3.1 |
4.5 |
4.5 |
100.0 |
|
The sales revenue in the reporting year amounted to RUB84,557.2 million, which ensured
a return on sales of 11.7%.
The results of other operations and extraordinary items during the reporting period
compared to last year are as follows:
- increase in revenues from short-term financial investments by 2.8 times (from RUB705.8
million to RUB2,000.2 million) and income from investments by 1.7 times (from RUB2,173.4
million to RUB3,724.5 million);
- decrease in interest expense on loans from RUB9,128.4 million to RUB8,669.2 million; the
losses from other operating activities in the reporting year fell by over RUB5 billion;
- loss from extraordinary items in the reporting period totalled RUB12,996.6 million
compared to the profit from extraordinary items in 2002 as a result of additional revenue
from the Czech transaction.
In the reporting period, the RAO "UES of Russia" Holding Company received net
profit of RUB32,485.3 million, up RUB6.4 billion (25%) from 2002.
The net profit margin throughout RAO "UES of Russia" Holding Company was 4.5
kopecks per RUB1 of sales revenue.
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