Unipro RAS net profit drops 50% to 4.6 bln rubles in 9M
MOSCOW. Oct 21 (Interfax) - Unipro halved net profit to Russian Accounting Standards (RAS) in January-September 2016 to 4.58 billion rubles, down from 9.2 billion rubles in the same period last year, the generating company said in an earnings report.
Sales revenue fell 10.2% to 59.4 billion rubles.
"The main factor resulting in decrease of financial performance was the reflection of disposals of assets damaged as a result of the accident on Power Unit 3 of Berezovskaya GRES. Without this, the net profit of Unipro would have been higher than in the corresponding period of the previous year," the company said.
Pretax profit fell 48.5% to 5.9 billion rubles, while cost of sales rose 7.3% to 46.9 billion rubles.
Gross profit grew 22.8% to 12.4 billion rubles, other income fell nearly 80% to 1.6 billion rubles and other expenses grew 17% to 8.6 billion rubles.
Receivables grew from 8.2 billion rubles to 11.4 billion rubles during 9M 2016. Payables decreased from 6.4 billion rubles to 5.7 billion rubles.
Unipro PJSC, known as E. On Russia until June 22, 2016, consists of five heat power plants with the total capacity of 11,145 MW: Surgutskaya GRES-2, Berezovskaya GRES), Shaturskaya GRES, Smolenskaya GRES and Yaivinskaya GRES. Uniper Russia Holding GmbH, a wholly owned subsidiary of Uniper SE, owns 83.73% of the company's shares.