Unipro publishes the results under IFRS for Q1 2017

Unipro Group is publishing unaudited financial results for the first three months of 2017 in accordance with International Financial Reporting Standards (IFRS).

The Unipro Group revenue for January – March 2017 amounted to RUB 20.7 bln (-7.5% compared to the same period of 2016). The higher performance indicators of the previous year were conditioned by operation of Power Unit No 3 of Berezovskaya GRES in January 2016. The revenue decrease in the reporting period was also driven by reduction in generation at Surgutskaya GRES and Berezovskaya GRES. This was partly compensated by the positive effects due to the increase of prices within Capacity Supply Agreements for Yaivinskaya GRES and Shaturskaya GRES.

The EBITDA indicator for Q1 2017 amounted to RUB 7.2 bln. EBITDA for January –March 2016 was negative. The key factor having impact upon financial indicators in Q1 2016 was retirement of damaged assets and costs of repair of the equipment damaged as a result of the accident at Power Unit No 3 of Berezovskaya GRES.

The underlying net profit for the reporting period amounted to RUB 4.6 bln.

Key indicators of Unipro Group for Q1 2017 under IFRS (RUB, thousand):

* 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 indicator adjusted to the size of impairment.