Publication date: 08.05.18
Back to list

Unipro Publishes IFRS Results for Q1 2018

Unipro Group publishes its unaudited financial results for the period from January to March 2018 in accordance with International Financial Reporting Standards (IFRS).

The Unipro Group’s revenue for the first three months of 2018 reached RUB 20.3 bn (-1.7 % compared to the same period in 2017).

Main negative factor for the revenue development compared to the same period in 2017 was lower power generation at the company’s power plants. However, the negative effect from decreased production was mitigated by increased capacity payments as a result of revision of prices under capacity supply agreements for power units of Surgutskaya GRES-2 CCGT.

EBITDA for the reference period reached RUB 7.7 bn (+6.9 %, compared to the previous year) due to reduced operational expenses, including reduced expenses on repair works at Power Unit No. 3 of Berezovskaya GRES.

The underlying net profit reached RUB 5.1 bn in January-March 2018.

Basic indicators of Unipro Group for three months of 2018 according to IFRS (RUB ‘000):

 

3 months 2018

3 months 2017

Dynamics

Revenue

20,339,457

20,688,623

-1.7%

EBITDA*

7,674,551

7,178,966

6.9%

EBIT**

6,151,076

5,676,084

8.4%

Underlying net profit***

5,080,800

4,644,173

9.4%

 

* EBITDA is defined as Earnings Before Interest, Taxes, Depreciation and Amortisation.

** EBIT is defined as Earnings Before Interest and Taxes adjusted for the depreciation amount.

*** Underlying net profit adjusted for the depreciation amount.