May 16 Volzhskaya TGK BOD considered preparation to the annual meeting set for June 27, the company informed.
The agenda is expected to include restructuring of the Company through the merger and increase in the share capital. BOD proposed to pass the dividends and approve Ernst & Young as an auditor.
Volzhskaya Generating Company (TGK-7, TIN 6315376946) was formed in 2005 within the realization of the energy systems restructuring (Samarskaya, Ulyanovskaya, Orenburgskaya, Saratovskaya). TGK-7 provides energy generation and transfer. It involves generating and heat supply assets of Samaraenergo, Saratovenergo and Ulyanovskenergo. 100% in Orenburgskaya TGK are contributed into the share capital of TGK-7 (in 2007). The Company involves 21 stations of 6879.7MW and 30687.2Gcal in capacities. It is included into KES Holding (Complex Energetic Systems).
The 2013-net profit boosted 2.28 fold (IAS) to 2.299bn rub. from 1.008bn rub. prior year; revenues moved up 11.06% to 70.269bn rub. from 63.274bn rub.; operating profit - 91.63% to 4.137bn rub. from 2.16bn rub.; pretax profit - 82% to 3.075bn rub. from 1.689bn rub.
The 2013 net profit (RAS) rallied up 7.81 fold to 2.122bn rub. from 271.638mln rub. prior year; revenues moved up 11.53% to 59.065bn rub. from 52.961bn rub.; profit from sales - 2.43 fold to 3.257bn rub. from 1.338bn rub.; pretax profit - 3.6 fold to 2.896bn rub. from 803.645mln rub.