OPG Power Ventures Plc - Financial Performance

Year ended 31st March

Financial Highlights	FY 2012	FY 2011	FY 2010
Summary Income Statement	£m	£m	£m
Revenue	45.25	33.15	11.52
EBITDA	12.57	15.54	6.95
Net finance costs	(2.02)	(1.32)	(1.51)
Underlying PBT	9.59	13.01	7.83
Pre-operative Expenditure on projects under construction	0.63	0.40	1.17
ESOP Charge	(1.45)	(1.45)	(1.21)
Impact on account on change of control (legacy units)	(4.82)	-
Electricity consumption tax relating to prior years	(0.43)	-
Profit before Tax	2.26	11.16	5.45
Taxation	(2.04)	(2.41)	(1.43)
Profit after tax	0.22	8.75	4.02
Pre-exceptional Earnings per share (pence)	1.705	2.129	0.323

Summary Cash Flow	FY 2012	FY 2011
Cash from Operations	12.23	15.15
Net Changes in Working Capital	(7.59)	(9.43)
Interest and Taxes	(5.36)	(4.61)
Net Cash from Operating activities	(0.72)	1.11
Investment in project assets	(71.35)	(19.67)
Financial and Other Income	2.59	1.32
Net Cash used in Investing activities	(68.77)	(18.35)
Net Increase in Borrowings	37.12	16.99
Proceeds from Issue of Shares (net of costs)	-	57.38
Net Cash provided by Financing activities	37.12	16.99
Net movement in Cash	(32.36)	57.12
Opening cash	71.10	14.17
Add / Deduct Exchange Movements	(0.88)	(0.19)
Add / Deduct net movement in cash for the period	(32.36)	57.12
Closing Cash Balance*	37.87	71.10
^Excludes Available for sale investments in mutual funds £1.39m*

Summary Balance Sheet	FY 2012
Assets
Property Plant and Equipment	93.03
Investment and other Assets	55.17
Cash, cash equivalents & Restricted cash	42.45
Trade and other receivables	17.40
Inventories	5.54
Total Assets	213.61
Liabilities and Shareholders' Equity
Short term borrowings	14.80
Trade and other payables	9.20
Long term borrowings	56.05
Current and deferred tax liabilities	1.55
Other liabilities	0.23
Total Liability	81.86
Total Shareholder Equity	131.75
Total Liabilities and Equity	213.61

Financial Performance

Share price

67.50

Financial Highlights

Summary Income Statement

Summary Cash Flow

Summary Balance Sheet