E.ON Russia publishes IFRS reporting for 2013

E.ON Russia JSC publishes audited accounting statements prepared in accordance with the International Financial Reporting Standards (IFRS) for 2013.

Core activity revenues of E.ON Russia amounted to RUB 78.8 bln, having increased by 5% as compared with 2012. Operating expenses increased by 17.5% - up to RUB 63.9 bln.

EBITDA (defined as earnings before taxation less financial income and costs, depreciation and loss from fixed assets devaluation) amounted to RUB 29.1 bln being approximately at the same level as last year. Profit of E.ON Russia for the period decreased by 21.2% in 2013 and amounted to RUB 14.4 bln. Profit reduction is due to recognition of the non-current assets devaluation, which is dependent on the changes in the long-term industry development forecasts. Profit reduced by 6%, if this effect is excluded.

Increase in the company revenue is due to the increase in prices at the wholesale electricity and capacity market. Low level of accident rate also had an impact on the dynamics of this indicator: At the year-end 2013, UUF (unplanned unavailability factor, characterizing the number of unscheduled equipment repairs) amounted to 1.26 % (in 2012 - 1.24%).

Major indicators of E.ON Russia calculated on the basis of the IFRS financial statements data for 2013: