Unipro Publishes Financial Results for 2017 under IFRS

Марта 07, 2018

Unipro Group discloses the data of the audited consolidated financial statements prepared in accordance with the International Financial Reporting Standards (IFRS) for 2017.

Revenue received by Unipro Group for 2017 totalled RUB 76.5 bn (-1.9% vs. the same period in 2016).

In 2017 (if compared to 2016), the decrease in revenue was primarily caused by absence of income from Power Unit No. 3 of Berezovskaya GRES and decline in power generation by the company’s power plants. However, the decrease in revenue was mitigated by a positive factor – increased capacity payments due to revision of prices under capacity supply agreements for CCGT power units.

EBITDA for the reference period totalled RUB 47.5 bn. Increased earnings include insurance proceeds received for the accident at Power Unit No. 3 of Berezovskaya GRES in February 2016. As a reminder, lower EBITDA for 2016 (RUB 17.7 bn) considered the effects of reduction of carrying amount of the power unit due to disposal of assets damaged in the accident.

Underlying net profit for 2017 went up to RUB 34.5 bn.