Publication date: 12.11.15
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E.ON Russia Publishes the Indicators According to the IFRS for 9 Months of 2015

E.ON Russia publishes the unaudited 9 months 2015 financial results prepared in accordance with International financial reporting standards.

The company’s revenue totaled RUB 52.6 bln (-7% as compared to the analogous period of 2014).

The EBITDA for the period from January to September of 2015 decreased by 26% and totaled RUB 14.4 bln. The underlying net profit of E.ON Russia according to the IFRS totaled RUB 8.0 bln.

Main reason for the earnings decline are two one off effects, the outage at Surgutskaya due to an accident in January and the penalties for delay of commissioning Berezovskaya new build. Without these effects, earning decline would be limited to ~5-8%. The underlying business of E.ON Russia is stable and will benefit from the commissioning of Berezovskaya new build in October this year.

The key figures of E.ON Russia according to the IFRS for 9 months of 2015 (RUB mln.):

 

9 months of 2015

9 months of 2014

Dynamics

Revenue

52,569

56,535

-7%

EBITDA*

14,383

19,328

-26%

EBIT**

9,045

13,377

-32%

Underlying net profit***

8,023

11,858

-32%

 

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

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

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