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Company Ticker Net revenue EBITDA Net income
USD mln yoy USD mln yoy mgn USD mln yoy mgn
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Dniproenergo DNEN 712.1 44% 59.6 8% 8% 13.9 -1% 2%
Donbasenergo DOEN 310.8 53% 33.8 -11% 11% 12.9 -40% 4%
Zakhidenergo ZAEN 687.5 32% 26.1 -12% 4% -4.0 neg -1%
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Alexander Paraschiy: The reining in of wholesale electricity tariffs on the background of rising coal and gas costs made most GenCos decrease their reported profits. Only Dnirpoenergo, which has accumulated a large coal stockpile over the summer increased its EBITDA in 9M08. As the policy of restraining tariffs is likely to continue at least until the end of the year, we expect GenCos’ bottom lines to decline yoy in 2008.