OJSC Tyumenenergo increased its stake in OJSC Kubanenergo to 21.6358% from 19.07%, Tyumenenergo informed.
Tyumenenergo (tax number: 8602060185) is the largest power supply system of the Ural region ranking the second largest power supply system in the Russian Federation, officially recognized as an inter-regional distribution company. Tyumenenergo's centralized electric power supply covers an area of over 1 million sq. km. The company has 12 branches.
Tyumenenergo's authorized capital is RUB 2.737 billion represented by 273,738,951 common shares at par value of RUB 10 each. No preferred shares are issued to represent the authorized capital. The sole shareholder of Tyumenenergo is OJSC IDGC Holding.
Net profit (RAS) of OJSC Tyumenenergo for 9 months 2011 decreased by 23.31% to RUB 3.150 billion from RUB 4.107 billion for the same period in 2010. Revenue grew by 4.61% to RUB 35.177 billion from RUB 33.625 billion, sales profit decreased by 6.96% to RUB 5.782 billion from RUB 6.215 billion.
OJSC Kubanenergo (tax number: 2309001660) is the principal supplier of electric power of Krasnodar Krai and Republic of Adygea. The power supply system includes 11 electronetwork enterprises (Krasnodarskiye, Sochinskiye, Armavirskiye, Adygeyskiye, Timashevskiye, Tikhoretskiye, Leningradskiye, Slavyanskiye, Yugo-Zapadniye, Labinskiye, Ust-Labinskiye). The total spread of the power transmission lines is 90 thousand km. The served area is 76 thousand square kilometers, with the population exceeding 5.5 million. Kubanenergo is part of OJSC IDGC of South.
According to the information and retrieval system DataCapital, net loss (RAS) of OJSC Kubanenergo for 2011 decreased by 22% to RUB 1.861 billion against RUB 2.389 billion for 2010. Revenue rose by 17% to RUB 28.707 billion from RUB 24.535 billion Sales loss decreased by 29.5% to RUB 922.322 million from RUB 1.309 billion, loss before tax by 17.4% to RUB 2.22 billion from RUB 2.69 billion.