Publication date: 29.04.22
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Unipro Publishes IFRS Financials for 3M 2022

Unipro Group publishes unaudited financials for 3M 2022 in accordance with the International Financial Reporting Standards (IFRS).

In January–March 2022, Unipro Group’s revenue grew by 30.3% as compared to the same period of 2021 amounting to RUB 28 bn. EBITDA amounted to RUB 11.4 bn (+65.9% as compared to Q1 2021). Underlying net profit increased by 81.6% up to RUB 7.4 bn.

Payments made under the Capacity Supply Agreement (CSA) for Power Unit No. 3 of Berezovskaya GRES have significantly increased the revenue for Q1 2022, as compared to 2021.

The financials for the reporting period grew, inter alia, due to the following drivers:

  • increased electric power generation caused by growth in energy consumption due to the economic recovery from COVID-19. It should be noted that in Q1 of the current year the maximum growth in generation was by Shaturskaya and Berezovskaya GRES: the electric power output by the power plants increased by 60% and 56%, respectively;
  • higher DAM prices due to an increase in electric power consumption, as well as indexation of gas prices since 01 July 2021 (+3%) and a rise in coal prices (about 20% as compared to 2021);
  • a significant increase in competitive capacity takeoff prices in 2022 as compared to last year (26% in Pricing Zone I, 18% in Pricing Zone II).


At that, the financial statements of Unipro Group for Q1 2022 showed an impairment of assets for RUB 19 bn caused by a change in the forecast of macroeconomic indicators against the backdrop of the geopolitical situation.


Unipro Group’s key financials for Q1 2022 in accordance with IFRS



3M 2022

3М 2021














Underlying net profit[4]





[1] Unipro Group’s key financials as per the management accounting records in accordance with IFRS.

2 EBITDA is defined as earnings before interest, taxes,  depreciation and amortization, and other one-offs.

3 EBIT is defined as earnings before interest, taxes, depreciation, and other one-offs.

4 Base net profit adjusted for depreciation and other one-offs.