Publication date: 11.08.20
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Unipro Publishes IFRS Financials for 1H 2020

Unipro Group publishes its unaudited financial results for six months 2020 in accordance with the International Financial Reporting Standards (IFRS).

In 1H 2020, Unipro Group’s revenue amounted to RUB 37.6 bln. A 12.1% decline in revenue was due to lower generation by the company’s power plants and lower DAM prices resulting from:

  • Abnormally warm weather in 1Q 2020;

  • Effects of OPEC+ deal to cut oil production, resulted in a demand decrease in Pricing Zone 1;

  • Coronavirus pandemic in 2Q 2020.

    It is worth mentioning, that if we do not consider the exceptionally strong financials of 1Q 2019, Unipro PJSC revenue in the reference period returned to the level of 1H 2018.

    EBITDA in January–June 2020 amounted to RUB 13.0 bln (-20,9% as compared to the previous year).

    Underlying net profit amounted to RUB 8.2 bln. A decline of 26.1% was due to the factors mentioned above.

Unipro Group’s key financials for 1H 2020 in accordance with IFRS (RUB’000)[1]:

 

6M 2020

6M 2019

6M 2018

Change

(2020/2019)

Change

(2020/2018)

Revenue

37,552,654

42,715,985

37,595,594

-12.1%

-0.1%

EBITDA*

13,045,173

16,500,067

13,669,397

-20.9%

-4.6%

EBIT**

9,993,919

13,510,271

10,557,859

-26.0%

-5.3%

Underlying net profit***

8,203,267

11,102,212

8,618,555

-26.1%

-4.8%

 

* EBITDA is defined as earnings before interest, taxes, depreciation and amortization, and other one-offs.

** EBIT is defined as earnings before interest, taxes, depreciation, and other one-offs.

*** Underlying net profit adjusted for depreciation and other one-offs.

 

 

[1] Unipro Group’s key financials as per the management accounting records in accordance with IFRS