Publication date: 07.05.19
Back to list

Unipro Group Publishes IFRS Results for Q1 2019

Unipro Group publishes its unaudited financial results for first three months of 2019 in accordance with International Financial Reporting Standards (IFRS).

The Unipro Group’s revenue in Q1 of this year have seen a consistent improvement and reached RUB 23.7 bn (+13.3% compared to the same period of 2018) following positive dynamics of Q4 2018.

These positive financial results were driven by the following factors:

- day ahead market price growth followed by gas prices indexation in August 2018, energy consumption growth, decrease of  transmission restraints in Urals, and absence of the electricity import from Kazakhstan:

- increase in power generation at Surgutskaya GRES-2 thanks to demand rise and full operational performance of the Power Unit 7 (CCGT-400) that was under its major overhaul over February–March last year; and at Berezovskaya GRES resulted by a higher load factor from the System Operator.

EBITDA grew to RUB RUB 9.1 bn in Q1 2019 (+18.4% compared to Q1 2018).

The underlying net profit over January – March 2019 increased by 22.5%, and reached RUB 6.2 bn.

Main indicators of Unipro Group for three months of 2019 according to IFRS (RUB ‘000):

 

3M 2019

3M 2018

Dynamics

Revenue

23 040 265

20 339 457

13,3%

EBITDA*

9 083 834

7 674 551

18,4%

EBIT**

7 568 828

6 151 076

23,0%

Underlying net profit ***

6 225 816

5 080 800

22,5%

 

* 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.

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