Dniproenergo, Donbasenergo and Zakhidenergo Disclose 9M07 Results

——————-  ————-  ——————-  ——————-
                     Sales,USD mln    EBITDA, USD mln    Net Income, USD mln 
                                    9M07     yoy   9M07    yoy   margin   9M07     yoy   margin
——————-  ————-  ——————-  ——————-
Dniproenergo   DNEN    494.7     30%   55.50  16.71  11.2%   13.93   13.47   2.8%
Donbassenergo  DOEN  201.7     14%   37.74   26.48  18.7%   21.31  32.30   10.6%
Zakhidenergo   ZAEN    519.7      14%  29.64   1.53     5.7%    0.58    8.47     0.1%
——————-  ————-  ——————-  ——————-

Source: State Statistics Committee

The yoy performance was positive for all GenCos. The third quarter usually is unprofitable due to low power output and additional costs for winter preparations. Over 3Q07, Dniproenergo posted -20.5% net margin, while Zakhidenergo -8.0% net margin. Donbasenergo’s results (net margin for 3Q07 of 21%) are due to a decrease in bad debt provisions by USD 20.2 mln (or 33% of 3Q07 sales).