E.ON Russia publishes the key figures of IFRS reporting for Q1 2014

E.ON Russia JSC publishes the key figures of unaudited accounting statements prepared in accordance with International Financial Reporting Standards (IFRS) for Q1 2014.

For the first three months of 2014 the company sales decreased by 1% to RUB 20.6 bn  compared to the similar period last year. EBITDA decreased by 22%  to RUB 6.3 bn. The underlying net income of E.ON Russia decreased by 31% to RUB 3.7bn

Main reason for the weaker financial performance is the decrease of the gross margin. In the first pricing zone the electricity price growth could not completely offset the increase of fuel costs. In the second pricing zone reduced capacity payments (KOM) for Berezovskaya and the lower day ahead market price - mainly caused by a high share of hydro generation based on strong water inflow – are the main drivers.

Key indicators of E.ON Russia are calculated on the basis of data of financial statements according to IFRS for Q1 2014: