IDGC of Volga, JSC disclosed the audited financial reporting of the Company for 2007-2008, prepared in accordance with International Financial Reporting Standards (IFRS). To compare the indicators, calculations and consolidation of data for 2007-2008 were made as if the Company had started its activities on January 1, 2006. According to the report, the net profit of the Company in 2008 grew by 16.7% as compared with the net profit in 2007, and amounted to RUR 2,035 mln. The Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) amounted to RUR 5,683 mln (14.5% more than a year ago). Earnings amounted to RUR 30,725 mln. All the indicators showing the quality of financial results of IDGC of Volga, JSC grew in 2008 as compared with the results a year ago. ROE grew from 9.80% to 10.26%. The Company’s total assets grew by 17.5% year on year. Simultaneously, the value of working assets grew by 2% and amounted to RUR 4,533 mln; the value of fixed assets grew by 21% and amounted to RUR 26,706 mln, which was due to the increasing volume of permanent assets. The growth of receivables by 12% is related to the growing number of technological connections and growing debts of sales companies before IDGC of Volga, JSC. To view the Company's financial reporting according to IFRS for 2007 click here, in Russian click here; for the 2008 financial reporting click here. Reference Information: IDGC of Volga, JSC has served as the unified operating company since April 1, 2008. The Company consists of seven branches: Orenburgenergo, Penzaenergo, Chuvashenergo, Mordovenergo, Saratov Distribution Grids, Samara Distribution Grids, and Ulyanovsk Distribution Grids. The authorized capital of the Company amounts to RUR 17,857,780,114.60, and has been split into 178,577,801,146 ordinary shares, RUR 0.10 each. IDGC Holding, JSC is the majority shareholder in IDGC of Volga, JSC. Its share in the authorized capital of the Company is 67.626%.