Publication date: 03.11.22
Back to list

Unipro Publishes IFRS Financials for 9M 2022

Unipro Group publishes its unaudited financials for 9M 2022 in accordance with the International Financial Reporting Standards (IFRS).

Unipro PJSC demonstrated good financial results in January–September 2022. Unipro Group’s revenue increased by 21.8%, as compared to the same period of 2021, and amounted to RUB 77.6 bn. EBITDA amounted to RUB 32.1 bn (+46% as compared to 9 months of 2021). Underlying net profit amounted to RUB 21.5 bn (+65.3%).

The key drivers of the financial growth in the reference period were as follows:

  • increase in electric power generation caused by the rise in energy consumption in Russia (Berezovskaya GRES was the prime contributor, with the plant’s generation volumes almost tripling in the 9 months of 2022 vs. the same period in the previous year, which is also attributed to the decline in Siberian hydro power plants generation, in addition to growing consumption);
  • growth of the day ahead market price due to the increase in power consumption, gas prices indexation (by 3% since July 2021 and by 5% since July 2022) and increase of coal prices (about 20% vs. 2021);
  • payments received under the Berezovskaya GRES Power Unit No. 3 capacity supply agreement;
  • significant increase in prices at the competitive capacity selection (KOM) in 2022 as compared to the previous year (26% in Price Zone 1 and 18% in Price Zone 2).

Apart from that, positive dynamics is due to the high level of payment discipline achieved by former debtors in the North Caucasian Federal District.

Key IFRS financials of Unipro Group for January–September 2022 (RUB’000)[1]:

 

9М 2022

9М 2021

Change

Revenue

77,626,723

63,723,385

21.8%

EBITDA[2]

32,058,193

21,953,531

46.0%

EBIT[3]

26,445,763

16,110,739

64.1%

Underlying net profit[4]

21,524,353

13,022,606

65.3%

 

 

 

 

 

 

 

 


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

[2] EBITDA is defined as earnings before interest, taxes,

depreciation and amortization, and other one-offs.

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

[4] Underlying net profit adjusted for depreciation and other one-offs.