E.ON Russia H1 2013 IFRS profit rises by 8%

Сентября 03, 2013

In first half of 2013 E.ON Russia's net profit made RUB 9.4 bln, that is 8% more than for H1 2012 (RUB 8.7 bln). EBITDA grew by RUB 735 mln (+5.4%) and made RUB 14.5 bln against RUB 13.7 bln year before.

Within the period under report, the Company profit grew by 9.1% as compared to previous year: from RUB 35.2 bln upto RUB 38.4 bln. Growth of E.ON Russia's profit in H1 2013 as compared to corresponding period of 2012 is due to electricity price increase at the day-ahead market and indexation of capacity price for competitive capacity outtake.

Operating expenses grew by 10.4% reaching RUB 28.2 billion as compared to previous year (RUB 25.5 billion). The rise in prices for gas became the major factor which has affected growth of the expenses. In 6 months of 2013 weighted average price of the gas purchase has increased by 12.3% as compared to similar period of 2012.