E.ON Russia publishes RAS reporting for Q1 2014
E.ON Russia publishes the accounting statements prepared according to the Russian Accounting Standards (RAS) for Q1 2014.
The company's revenue in three months of 2014 amounted to 21.1 mln roubles, which is nearly equal to the same period of the last year. Production costs increased by 8.1% and amounted to 15.3 bln roubles. Profit before taxes increased by 13.8% up to 5.9 bln roubles.
Net profit of E.ON Russia in the first three months of 2014 according to RAS amounted to 4.8 bln roubles, which is 14.5% less than in 2013.
Reduction in the financial performance of E.ON Russia is due to the change in the power balance in the Tyumen region that had a negative impact on the DAM prices in the first price zone by the CCA effect in UES of Siberia in 2014 and by the fall in power consumption in the company's presence regions.
Major indicators of E.ON Russia according to RAS reporting for Q1 2014:
|
|
Q1 2014 |
Q1 2013 |
Dynamics |
|
Revenue, ths roubles |
21,097,756 |
21,128,775 |
-0.1% |
|
Cost of sales, ths roubles |
15,348,228 |
14,189,023 |
+8.1% |
|
Gross profit, ths roubles |
5,749,528 |
6,939,752 |
-17.1% |
|
Profit before taxes, ths roubles |
5,996,929 |
6,960,594 |
-13.8% |
|
Net profit, ths roubles |
4,833,953 |
5,653,912 |
-14.5% |