Publication date: 13.11.14
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E.ON Russia publishes IFRS financial results for 9 months of 2014

E.ON Russia discloses the unaudited condensed consolidated interim financial information prepared in accordance with the International Financial Reporting Standards (IFRS) for 9 months of 2014.

The company’s revenue for 9 months of 2014 amounted to RUB 56.5bn (down by 1 % compared with the same period of 2013).

EBITDA* decreased by 7% - from RUB 20.7bn to RUB 19.3bn.

Underlying Net Income of E.ON Russia in accordance with IFRS for the reporting period amounted to RUB 11.9bn.

The EBITDA reduction was driven by a decrease of the margin, in particular: the results of the KOM auction in Siberia (Berezovskaya GRES) in 2014, electric power generation decrease, as well as the fact that the electricity price growth could not completely offset the increase of fuel costs in the first pricing zone.

Performance indicators of E.ON Russia for 9 months of 2014 (million rubles):

 

Indicator

 

9 months of 2014

9 months of 2013

Dynamics

Revenue

 

56 535

57 230

-1%

EBITDA*

 

19 328

20 677

-7%

EBIT**

 

13 377

13 406

0%

Underlying Net Income***

 

11 858

12 218

-3%

 

* EBITDA: Earnings before interest, taxes, depreciation, and amortization including fixed asset impairment.

** EBIT: Earnings before interest and taxes (adjusted for extraordinary effects).

*** Underlying Net Income (adjusted for extraordinary effects).