Publication date: 03.11.21
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Unipro Publishes IFRS Financials for 9M 2021

Unipro Group publishes its unaudited financials for 9M 2021 in accordance with the International Financial Reporting Standards (IFRS).

In January-September of this year, Unipro PJSC’s revenue grew by 16.3% as compared to the same period of last year amounting to RUB 63.7 bn. EBITDA grew by 14.5% to RUB 22.0 bln. Underlying net profit amounted to RUB 13.1 bn (+21.5% compared to the same period of 2020).

The financials for the reporting period grew due to the following drivers:

  • completion of the repairs and reconstruction of Power Unit 3 at Berezovskaya GRES and resumption of payments under CSA starting from May 2021, which exceeded the financial losses caused by transition from CSA to capacity payment in accordance with the tariffs of CCS and DD of the four combined cycle power units of Shaturskaya GRES, Yaivinskaya GRES, and Surgutskaya GRES-2;
  • DAM price growth in the first price zone due to increased power consumption caused by the gradual economy recovery, relaxation of restrictions under the OPEC+ agreement, cold winter and record high temperatures in the summer of 2021, an increase in electricity exports to Finland and the Baltic countries, as well as an annual indexation of gas prices starting from 1 July 2021.

Unipro Group’s key financials for 9M 2021 as per IFRS (RUB’000)*:

 

 

9M 2021

9M 2020

Dynamics

Revenue

63,723,385

54,794,772

16.3%

EBITDA*

21,953,541

19,179,802

14.5%

EBIT**

16,110,749

13,306,804

21.1%

Underlying net profit***

13,136,682

10,812,579

21.5%

 

* 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.

 

 

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