Financial Results

Address to Shareholders from the RAO UESR Executive Office

Company's Business Results

Asset Structure

Volume of Products, Subscriber Fees, Revenues' Structure

Production Cost, Profit and its use

Accounts Receivable and Payable

Balance Sheet

Profit and Loss Account

RAO UESR Stock in the Securities Market

Summary of UES of Russia Coordination and Management Results

Electric Power Production and Transfer

Electric and Heat Power Markets

UES of Russia Dispatch Manegement

Subsidiary Management

Investments

Foreign Business Activity

Scientific and Technical Development of UESR

Audit Report

Information for Shareholders

Appendix

• • • • • • • • • • •

Report's Home Page

Shareholder

UESR Home

RAO UESR Profit and Loss Account
(for shipped products)

	1997	1996
(RUR billion)
1. Revenue from sales (after deduction of value added tax)	12,099	9,653
2. Cost of sales	5,455	8,497
3. Profit from sales	6,644	1,156
4. Interest receivable	2	3
5. Interest payable	5	-
6. Revenues from participation in other organisations	33	253
7. Other operational revenues	529	653
8. Other operational expenses	773	991
9. Profit from financial and business activities	6,430	1,074
10. Other non-sales revenues	43	15
11. Other non-sales expenses	47	15
12. Representative year profit	6,426	1,074
13. Profit tax	695	158
14. Averted funds	153	670
15. For establishing investment funds	1,762	-
Retained earning for the representative year	3,816	246
Besides, retained earning of previous periods	448
Total	4,264
including profit in accounts receivable	3,275
Profit for distribution	989
of which advanced use for accumulation and consumption in 1997	400

RAO UESR Acting Chief Executive Officer		Oleg V. Britvin
RAO UESR Chief Accountant		Andrey G. Amosov