Publication date: 16.03.16
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E.ON Russia Publishes Financial Results According to IFRS for 2015

E.ON Russia publishes the audited consolidated financial statements in accordance with the International Financial Reporting Standards (IFRS) for 2015.

The company’s revenue has not changed significantly comparing to 2014 and amounted to RUB 76.7 bln.

EBITDA in 2015 was down by 5% to RUB 24.9 bln and underlying net income came down 16% to RUB 14.4 bln. This deterioration was mainly due to two - non-recurring - negative effects: The first one is related the outage at Surgutskaya-2 power station in the first half last year and related costs of repair. The second one is related to fines due to the delayed commissioning of the third power unit at Berezovskaya GRES. Without these non-recurring effects, earnings would have exceeded the last year results.

Key performance indicators of E.ON Russia according to IFRS (RUB ths.) for 2015:

 

 

12 months 2015

12 months 2014

Dynamics

Revenue

76,705,554

77,693,134

-1%

EBITDA*

24,889,637

26,167,965

-5%

EBIT**

17,396,885

19,237,117

-10%

Underlying net income***

14,353,055

17,058,075

-16%

 

* EBITDA is defined as earnings before interest, taxes, depreciation and amortization.

** EBIT is defined as earnings before interest and taxes adjusted for the size of the impairment (impairment loss for fix assets in 2015 reached RUB ths. 703 212).

*** Underlying net income adjusted for the size of the impairment (impairment loss for fix assets in 2015 adjusted for tax shield reached RUB ths. 562 570).