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Name | Symbol | Market | Type |
---|---|---|---|
RusHydro PJSC (PK) | USOTC:RSHYY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.48 | 0.00 | 01:00:00 |
Notice of 1H 2013 IFRS results and management conference-call
JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces that it will publish condensed consolidated interim reviewed financial statements under International Financial Reporting Standards (IFRS) for the 1st half of 2013 on Thursday, August 29, 2013.
The results will be published after 13.00 (Moscow time) in the form of a report, accompanied by a press-release and presentation.
The Company will host a conference call on the results at 16.00 (Moscow time) on August 29, 2013. The call will be held in English by Ivan Savelyev, Head of M&A and ECM, and Dmitry Finkel, Chief Accountant. Please see below the dial-in details.
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In compliance with IFRS standards, the Company ran the impairment tests and identified the impairment losses in the amount of over RUR 10 bn that will be included in the official financial statements for January-June 2013. The identified losses are non-cash; adjusted net profit reflects the cash-based profit.
Over RUR 6 bn of the amount indicated above is related to impairment of shares of OJSC Inter RAO UES, owned by RusHydro, due to prolonged decline in their market value. The o ther part of accrual non-cash loss is mainly related to the project of Boguchansky energy and metals complex (BEMO), that includes Boguchanskaya hydropower plant and Boguchansky smelter, due to expected decline in future cash flows reflected in the financial model of the project resulting from changes to the previously used assumptions.
Dial-in details:
Russia Toll Free Number: 8 10 8002 097 2044
UK Call-in Number: +44 145 256 9335
US Toll Free Number: +1 (866) 655 1591
Conference ID: 35216059
Please dial 10-15 minutes prior to the scheduled time of the call.
Replay Details
International Replay Number: +44 145 255 0000
UK Toll Free Number: 0800 953 1533
US Replay Number: +1 (866) 247 4222
Conference ID: 35216059
The conference call replay will be available through September 9, 2013.
The conference call is sponsored by Morgan Stanley.
About RusHydro:
RusHydro Group is one of Russia?s largest generating companies. RusHydro is the leading producer of renewable energy in Russia with over 70 generating facilities in Russia and abroad. The company also manages a number of R&D, engineering and electricity retail companies. Group?s thermal assets are operated by subsidiary ? RAO Energy System of East in the Far East of Russia. Total electricity generation capacity of the Group is 36.5 GW, heat capacity ? 16.2 thousand GCal/h.
Russian Federation owns 67.1% in RusHydro, the rest is held by other institutional and individual shareholders (over 360,000). The company?s stock is traded on the MICEX and RTS stock exchanges, and included in MSCI EM ? MSCI Russia indexes. Company?s GDRs in the IOB section of LSE, ADRs ? in OTCQX.
For more information:
JSC RusHydro, Investor Relations Department
Tel. +7 (495) 225-3232 ext. 1319, 1607
ir@rushydro.ru
DISCLAIMER
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. One can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements.
We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia and rapid technological and market changes in our industries, as well as many other risks specifically related to RusHydro and its operations.
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