“Inter RAO” in 2015, increased its net profit under IFRS in 2,4 times, to 22.9 billion rubles

MOSCOW, February 29. Net profit of “inter RAO” under IFRS in 2015 increased 2.4 times compared with 2014, to 22.9 billion roubles, is spoken in the message of the company.

Revenue increased by 8.6% and amounted in the reporting period 805,3 billion. Pre-tax income of $ 16.9 billion to 26.8 billion rubles.

EBITDA increased 1.3 times, up to 71,125 billion.

The burden of debt including share in debt of joint ventures decreased by 23% to 90,2 billion.

Despite the substantial recognition of impairment in respect of property, plant and equipment and assets under construction at Verkhnetagilskaya TPP, the group has achieved positive results thanks to the commissioning of new facilities under CSA, positive changes in the segment “trading” due to the weakening of the ruble against the major currencies of export contracts and the national currencies of the countries where the group operates, the report says.

On the dynamics results, in particular, was affected by the commissioning of new and modernized generating capacity under contracts on the granting of capacity (DPM), including Yuzhnouralsk GRES-2, Cherepetskaya SDPP, Nizhnevartovsk SDPP, Omskaya TETS-3 and Omskaya TETS-5, the increase in payments for capacity under contracts on capacity delivery (DPM) due to the increase in the yield of government bonds, lower prices for power sold in the segment of competitive capacity selection (KOM) and the growth of exports due to the weakening of the ruble against the export currencies.

However, the positive dynamics of the company was impacted by the sale of 50% shares of CJSC “Electric networks of Armenia” OJSC and “Hrazdan power company” (Rastas) in the 4th quarter of last year and the recognition of these companies as joint ventures with November 2015.

The group “inter RAO” – a diversified energy holding present in different segments of the electric power industry in Russia and abroad. The company occupies leading positions in Russia in the field of export-import of electricity. The strategy of “inter RAO UES” aims at creating a global energy company. Installed capacity of power plants included in the Group “inter RAO” and under its management exceeds at 34.3 GW.