Unipro Group Publishes IFRS Results for Q1 2019

The Unipro Group’s revenue in Q1 of this year have seen a consistent improvement and reached RUB 23.7 bn (+13.3% compared to the same period of 2018) following positive dynamics of Q4 2018.

These positive financial results were driven by the following factors:

- day ahead market price growth followed by gas prices indexation in August 2018, energy consumption growth, decrease of  transmission restraints in Urals, and absence of the electricity import from Kazakhstan:

- increase in power generation at Surgutskaya GRES-2 thanks to demand rise and full operational performance of the Power Unit 7 (CCGT-400) that was under its major overhaul over February–March last year; and at Berezovskaya GRES resulted by a higher load factor from the System Operator.

EBITDA grew to RUB RUB 9.1 bn in Q1 2019 (+18.4% compared to Q1 2018).

The underlying net profit over January – March 2019 increased by 22.5%, and reached RUB 6.2 bn.