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Performance of Novosibirskenergo in 2003 was characterized by the following trends:
 significant increase in the volume of sales;
increase in profits from sales;
increase in net profit;
decrease in receivables.
In 2003 the Company recorded sales of goods and services in the amount of 10,526,995 thousand rubles that is by 2,192,837 thousand rubles (or by 26.3%) greater than sales in 2002.
Sales of electricity amounted to 7,074,635 thousand rubles or 125.3% of the last year's sales; heat sales were 3,258,564 thousand rubles or 131.3% of the last year's; other sales were 193,796 thousand rubles.
Main Financial Indicators, in thousand rubles
| Indicator |
2002 |
2003 |
2003/2002, absolute change |
2003/2002, % |
| Total sales |
8,334,158 |
10,526,995 |
2,192,837 |
126.3% |
| Cost of goods and services |
7,464,630 |
9,467,327 |
2,002,697 |
126.8% |
| Cost in kopecks to 1 ruble of sales |
89.6 |
89.9 |
0.4 |
100.4% |
| Gross profit |
869,528 |
1,059,668 |
190,140 |
121.9% |
| Gross profit margin, % |
10.4% |
10.1% |
- |
96.5% |
| Other operating income and expenses |
-414,734 |
-257,696 |
157,038 |
62.1% |
| Operating profit |
454,794 |
801,972 |
347,178 |
176.3% |
| Operating profit margin, % |
5.5% |
7.6% |
- |
139.6% |
| Non-sale income and expenses |
-126,399 |
-120,961 |
5,438 |
95.7% |
| Profit before taxes |
328,395 |
681,011 |
352,616 |
207.4% |
| Profit tax and other taxes |
278,274 |
531,852 |
253,578 |
191.1% |
| Net (undistributed) profit |
50,121 |
149,159 |
99,038 |
297.6% |
| Net profit margin, in kopecks to 1 ruble of sales |
0.60 |
1.42 |
- |
235.6% |
The gross profit margin of electricity sales has decreased from 9.2% in 2002 to 8.3% in the reporting period; the gross profit margin of heat sales has increased from 9.7% to 10.4%; profit margin of other sales has increased as compared to the last year by 14.6 percentage points and was 68.1% in 2003.
Overall, because of the decrease in the gross profit margin of electricity sales, which constitute 67% of total sales, the total gross margin has decreased from 10.4 kopeck on 1 ruble of sales in 2002 to 10.1 kopeck on 1 ruble of sales in the reporting period.
Profits from sales in 2003 were 1,059,668 thousand rubles that is greater than that of the last year by 190,140 thousand rubles or 21.9%.
Operating and non-sales expenses in the amount of 378,657 thousand rubles have decreased profits of the Company to 681,011 thousand rubles.
Net (undistributed) profit in 2003 was 149,159 thousand rubles, having increased from the last year threefold. As a result, return on assets has increased in comparison to 2002 by 0.57 percentage points and was 0.85%, and return on own capital has increased by 0.76 percentage points and was 1.13%.
Net profit margin in the reporting period was 1.42 kopeck on 1 ruble of sales against 0.6 kopeck on 1 ruble of sales in 2002.
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