Centrenergo Announces Preliminary 2006 Results
28 February 2008
Centrenergo (CEEN) posted USD 525 mln in net revenue (+37% yoy) in 2006. Its net income grew 44% yoy and amounted to USD 17 mln. Alexander Paraschiy: The company’s net revenue was lower than we forecasted (USD 570 mln), while its net income was higher than we estimated – USD 10 mln. The main reason for CEEN’s increase in net income in 2006 is its improvement in fuel efficiency due to the commissioning of a new power unit in late 2005, and the significant growth of CEEN’s capacities in 2006.
