Unipro Publishes RAS Accounting Statements for Q1 2022

Unipro PJSC publishes the accounting statements for January–March 2022 prepared according to the Russian Accounting Standards (RAS).

In Q1 2022, Unipro PJSC’s revenue increased by 29.4% year-on-year up to RUB 30.6 bn.

The increase was mainly due to the receipt of payments under the capacity contract for power unit No. 3 of Berezovskaya GRES. Revenue growth was also supported by an increase in power generation at Unipro plants driven by higher electricity consumption upon recovery from the effects of the COVID-19 pandemic. It should be noted that the maximum contribution in the reporting period was made by Berezovskaya and Shaturskaya GRES: the power plants increased their output by 56% and 60%, respectively.

The positive dynamics was also due to an increase in the DAM price, as well as a significant grows of KOM prices in 2022. As a result, gross profit for Q1 2022 grew by 84.7% and amounted to RUB 9.5 bn year-on-year.

At that, the financial statements of Unipro PJSC showed an impairment of assets for RUB 32 bn caused by a change in the forecast of macroeconomic indicators against the backdrop of the geopolitical situation, at the end of Q1 2022. Thus, loss for the first three months of 2022 amounted to RUB 18.7 bn.

Unipro PJSC’s RAS financials for Q1 2022 (RUB’000):