Eight more Oblenergos announce 1H08 results: net income grows1.4x-16.2x yoy

                                             Net revenue       EBITDA         Net income
                                             USD mln  Chg yoy USD mln  Chg yoy  USD mln yoy  
—————————————————————————-
Chernivtsioblenergo (CHEN: BUY)   35.7    35.5%     6.2    71.0%     3.7    16.2x  
Cherkasyoblenergo (CHON: BUY)    64.3    31.7%    11.8    35.2%     7.1    71.6%  
Dniprooblenergo (DNON: BUY)       844.9    15.4%    37.6    64.0%    20.0   7.5x   
Donetskoblenergo (DOON: N/R)      302.6    23.7%    39.9   116.3%   7.6    n/m   
Khmelnitskoblenergo (HMON: BUY)  61.2    38.6%    10.7    54.6%     6.1    4.7x   
Krymenergo (KREN: BUY)               132.4    27.9%    10.7    16.6%   1.4    63.2%   
Vinnitsaoblenergo (VIEN: BUY)        62.7    31.6%    10.7    76.6%     4.1    4.2x    
Zhytomiroblenergo (ZHEN: BUY)      59.2    24.3%     9.2    45.1%     2.5    44.3%  
—————————————————————————-

Source: smida.gov.ua

Alexander Paraschiy: As we forecasted in our Oblenergo update report of July 16, 2008, the sector’s bottom line will more than double in 2008; further triple-digit growth is expected in 2009, when tariff policy reform is scheduled to be implemented.