Power Machines OJSC Publishing 2008 Financial Statements Prepared in Accordance with IAS

One has generated consolidated 2008 financial statements of Power Machines OJSC prepared in accordance with the International Accounting Standards (IAS).

2008 sales revenues amounted to $1,312,285 thousand having thus increased by $542,237 thousand as compared to the 2007 rating ($770,048 thousand).

The Company’s net profit during 2008 amounted to $79,626 thousand in comparison with $304,080 thousand loss in 2007.

Power Machine OJSC 2008 financial statements prepared in accordance with IAS

$ thousand

2007

2008

Sales revenues

770,048

1,312,285

Sales cost

789,245

1,013,87

Gross profit/(loss)

(19,197)

298,407

Operational profit/(loss)

(230,169)

50,548

Profit/(loss)before taxation

(275,367)

58,217

Net profit /(loss)

(304,080)

79,626

EBITDA

(247,880)

128,393

Free cash flow

41,968

457,402

Net debt

68,483

(195,375)