Leaders of the market: profitability growth has supported demand on OGK - 1In first half of auctions on Tuesday, on May, 18th, against raznonapravlennoj dynamics of the Russian market appreciable growth was shown by ordinary actions of Open Society “ OGK - 1 “. In the meantime is much worse than the others exclusive papers of Open Society " looked; Dalsvjaz “.
Actions OGK - 1 in the session beginning have grown in the price for 3 %. By 13:30 Moscow time demand for papers has a little fallen, and their gain has made 2,18 %. The day before OGK - 1 has published results of activity on MSFO for 2009ã., which as analysts " mark; Uralsib Kepital “ despite impressing growth of profitability, have appeared slightly worse expectations from - for some less company effective control over constant costs. The sales volume and gain OGK - 1 remained stable, having made 49,3 mlrd rbl. (1,56 mlrd dollars) and 46,3 mlrd rbl. (1,47 mlrd dollars) Accordingly. Analysts notice that the company has considerably raised profitability at the expense of several factors: 2009ã. It has appeared very profitable for all teplogenerirujushchih the companies as growth of adjustable tariffs for the electric power has considerably outstripped rise in prices for gas. At the same time in 2009ã. The company could realise to 40 % of the electric power on the liberalised prices against 20 % in 2008ã. At last, OGK - 1 has introduced effective enough program of control over constant costs.
in spite of the fact that the published results look impressively, analysts consider them as neutral news to stock quotes genkompanii. “ On the one hand, OGK - 1 has already published the reporting on RSBU for 2009ã., which after consolidation with results of the Nizhnevartovsk state district power station is rather close to the published data on MSFO. With another - OGK - 1 has reported about EBITDA on 4 % below the forecast of analysts “ Uralsib Kepital “. Thus now the attention of investors is concentrated on expected dopemissii shares of company and the subsequent dynamics of financial results of the company, analysts mark.
actions OGK - 1 are under the pressure of a line of a descending trend (2) which originates from resistance level for 1,55 rbl. (3). Decrease in actions genkompanii occurs very actively, therefore “ bulls “ sometimes arrange rigid counterattacks. However obvious domination " at present is available; bears “ therefore decrease in quotations OGK - 1 will proceed within the next few days, and as the purpose of papers the line of an ascending trend (1) will act.
Preference shares “ Dalsvjazi “ in the beginning of the auctions on May, 18th have fallen in cost almost to 8 %. By 13:30 Moscow time the situation has not changed, and decrease in quotations of the telecommunication company has made 7,74 %. On Monday the company has closed the register of shareholders before annual general meeting which should take place on June, 28th 2010ã. During meeting shareholders will confirm the annual report, the annual accounting reporting, including the report on profits and losses by results of 2009. Besides, shareholders will select new structure of board of directors and a revision committee. Besides other, the question on reorganisation " will be considered; Dalsvjazi “ in the form of joining to “ to Rostelecom “.
we Will remind, board of directors “ Dalsvjazi “ has preliminary confirmed the annual report for 2009ã. Also recommended to pay dividends on its results. So, on payment of dividends under preference shares it is offered to direct 213 million 594 thousand 244,77 rbl., on payment of dividends under ordinary actions - 325 million 712 thousand 808,34 rbl., on increase in own capital - 1 mlrd to 632 million 170 thousand 132,89 rbl. Thus, the size of dividends recommended to general meeting makes 6,8528 rbl. on one preference share and 3,4077 rbl. - on one ordinary. Dividendnye payments for 2009ã. In comparison with 2008ã. Can increase by 25 %.
Preference shares “ Dalsvjazi “ in April 2010ã. Have punched downwards a line of a local ascending trend (4), and in May their decrease has proceeded. On May, 18th papers have reached support lines for 77 rbl. (3), however at this level they, most likely, for a long time will not be late, having continued to fall. The most probable purpose of exclusive papers “ Dalsvjazi “ the mark 65 rbl. (2) strengthened by a line of a global ascending trend (1) is.