Publication date: 08.08.17
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Unipro Publishes IFRS Results for H1 2017

Unipro Group publishes its unaudited financial results for the first half of 2017 in accordance with the International Financial Reporting Standards (IFRS).

The Unipro Group revenue for January–June 2017 amounted to RUB 37.8 bn
(-4,6 % compared to the same period of 2016).

This was primarily caused by the following factors:

  • The absence of payments under CSA for capacity of Power Unit No. 3 of Berezovskaya GRES which is under emergency repair;

  • Reduction in generation volume at Berezovskaya GRES as a result of increased water inflow in Siberia compared to the same period in 2016;

  • Reduction in generation at Surgutskaya GRES-2 as a result of increased cold reserves (System Operator dispatching); and

  • Reduced electricity generation by Shaturskaya GRES due to the major inspection of the CCGT power unit.

Meanwhile, a positive impact was exerted by increased payments for capacity, as a result of the CSA prices being reviewed for CCGT power units of Yayvinskaya GRES and Shaturskaya GRES, and receipt of increased payments under CSA (delta CSA) for CCGT of Yayvinskaya GRES, Shaturskaya GRES, and Surgutskaya GRES-2 starting from the seventh year of capacity supply.

EBITDA for the reporting period totalled RUB 33.1 bn. In May 2017, Unipro PJSC received the final part of the insurance indemnity in the amount of RUB 20.4 bn for the accident at the third power unit of Berezovskaya GRES. EBITDA for H1 2016 amounted to RUB 2.5 bn. The key factor that had an impact on the financial results for Q1 2016 was the disposal of damaged assets as a result of the accident at Power Unit No. 3 of Berezovskaya GRES.

The underlying net profit reached RUB 24.5 bn in H1 2017.

Basic indicators of Unipro Group for six months of 2017 according to IFRS (RUB ‘000):


6M 2017

6M 2016














Underlying net profit/loss***





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

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

*** Base net profit indicator adjusted to the size of impairment.