En+ Group revenue grows 23% to $5.8 bln in H1, adjusted EBITDA up 44% to $1.5 bln
MOSCOW. Oct 5 (Interfax) - En+ Group, a vertically integrated producer of electricity and aluminum that is controlled by Russian billionaire Oleg Deripaska, increased its revenue by 23% to $5.841 billion in the first half of 2017 from $4.748 billion in the same period of 2016, the group said in a statement.
The growth was driven primarily by a 21.8% increase in revenue at UC Rusal on the back of higher world aluminum prices.
En+ Group's adjusted EBITDA surged 44% to $1.513 billion in the first half.
Operating cash flow rose 9.3% year-on-year to $1 billion in H1 2017, from $916 million a year previously.
The EBITDA margin was 26%.
The power plants of En+ Power (EuroSibEnergo) boosted output 5.4% year-on-year in H1 to 33.9 billion kilowatt-hours. Hydropower plants raised output 8.6% to 27.3 billion kWh.
Thermal power plants reduced output 6.1% year-on-year to 6.6 billion kWh. Heat output fell 2.3% to 14.6 billion Gcal.
En+ Group financial results:
| $ mln | H1 2017 | H1 2016 | 2016 | 2015 | 2014 |
| En+ Group revenue | 5 841 | 4 748 | 9 776 | 10 529 | 11 917 |
| UC Rusal revenue | 4 764 | 3 896 | 7 983 | 8 680 | 9 357 |
| En+ Power revenue | 1 ,599 | 1 152 | 2 482 | 2 459 | 3 426 |
| En+ Group adjusted EBITDA | 1 513 | 1 051 | 2 ,311 | 2 732 | 2 168 |
| UC Rusal adjusted EBITDA | 985 | 656 | 1 489 | 2 015 | 1 514 |
| En+ Power adjusted EBITDA | 572 | 395 | 822 | 717 | 652 |