The Board of Directors of IDGC of the North-West, JSC has approved of the company business plan for 2012.
The Board of Directors of IDGC of the North-West, JSC has approved of the company business plan for 2012. The in-praesentia session took place in Moscow, at the premises of IDGC Holding, JSC, on January 20, 2012. Proceeds of IDGC of the North-West in 2012 are planned to amount to 32,042 mln RUR. The planned indicator value is in excess of 2011 expected proceeds (31,067 mln RUR) by 3.1%. Following the outcome for 2012, IDGC of the North-West expects a positive financial result. EBITDA will make 3,949 mln RUR. The planned indicator value is in excess of that expected following the outcome of 2011 (3,792 mln RUR) by 4.1%.
Net profit in 2012 is planned to amount to 21 mln RUR (expected net profit following the outcome of 2011 was 265 mln RUR). Under the conditions of restriction of tariff growth, a positive financial result is achieved through costs growth restriction. IDGC of the North-West is implementing an array of measures within the framework of the expenditures management program and that for energy saving and energy efficiency enhancement. Cash flow secured return on equity (ROE) is planned to be at the 0.08% level.
“As of December 31, 2012 compliance with all the target and maximally admissible Limits was planned. IDGC of the North-West is characterized by stable financial standing and ranks among Creditability Group A”, noted Deputy General Director for Economy and Finance of IDGC of the North-West Olga Makarova. “The planned debt load fails to limit attraction of borrowed funds. The debt/EBITDA ratio as of the end of 2012 is 2.46”.
The planned volume of electric energy transmission services in 2012 is planned to be 39,951 mln kWh. The preliminary business plan of IDGC of the North-West for 2012 was considered at the in-praesentia session of the Committee for Strategy and development under the Board of Directors of IDGC of the North-West and was recommended for approval by the Board of Directors.