15 Aug 2018 15:39

En+ energy segment boosts net profit 16% to $139 mln in H1

MOSCOW. Aug 15 (Interfax) - The energy segment of Oleg Deripaska's En+ Group boosted net profit 15.8% year-on-year to $139 million rubles in H1, the company said.

Adjusted EBITDA rose 9.6% to $627 million. Revenue increased 7% to $1.711 billion.

Profits were down 25% for the energy segment in Q2 to $6 million, adjusted EBITDA was up 1.2% to $259 million and revenue fell 1.2% to $713 million.

Total electricity generation at all plants rose 3.6% to 35 billion kWh in H1 and to 17.3 billion kWh in Q2. Hydro power plants (HPP) reduced generation 3.3% year-on-year to 26.3 billion kWh and down 1.4% to 14.1 billion kWh in Q2.

Krasnoyarsk HPP's total power generation increased by 4.2% to 10.0 billion kWh on the back of more favorable hydrological conditions, in Q2 2018, power generation accounted for 5.5 billion kWh, up 12.2% year-on-year. The group's Angara cascade HPPs (Irkutsk, Bratsk and Ust-Ilimsk HPPs) decreasing power generation by 1.3 billion kWh to 16.3 billion kWh in H1 2018. Despite the water flows into Lake Baikal approaching normal levels in Q2, the water level itself remained low.

Thermal power plants increased output 31.8%, generating 8.7 billion rubles in H1 due to lower monthly average air temperature from January-May and lower production at the Angara Cascade HPPs. Generation was up 60% in Q2 to 60%.

Heat production increased 7.5% to 15.7 million Gcal included 4.5 million Gcal in Q2, up 2.3%.

The group's energy division comprises of power plants with a total installed capacity of 19.7 GW including 15.1 GW of hydroelectric assets. The division includes Irkutskenergo , JSC Krasnoyarsk HPP , EuroSibEnergo and other companies.