Alexander Ignatyuk, analyst of Energocapital IC

– The first year of Atomenergoprom was quite successful

State Atomic Energy Corporation «Rosatom», the sole shareholder of JSC Atomenergoprom, approved Atomenegroprom’s 2008 annual report and accounting statements.  The annual report structure meets the requirements of the Federal Financial Risks Service, includes information directly related to JSC Atomenergoprom and does not contain consolidated financial data for subsidiaries and affiliates. The Company’s annual report is available at www.atomenergoprom.ru.

First of all, I would like to point out the high information openness of Atomenergoprom and the other structures of Rosatom State Nuclear Energy Corporation. And they are open just to narrow expert groups but to wide public.

I think that the first year of Atomenergoprom was quite successful. It did really much. Last year the production of electricity grew by 2% with no additional capacities launched. The capacity factor was raised to 80%, which is the level of the best European nuclear operators. That is, we in Russia have a corporation fully controlled by the state and showing high profitability and positive development dynamics. One of the key components of the holding’s success in 2008 was its active work in the field of corporate construction. The results of this work are lower general costs, higher yield on capital investments, well-organized procurement system. Atomenergoprom is effectively working to demonopolize the production of equipment for nuclear power plants and is laying the foundations of the future of our nuclear industry by winning tenders abroad and establishing uranium mining JVs.