RusHydro reduces EBITDA to IFRS by 25% in Q1 to 19.1 bln rubles
MOSCOW. June 30 (Interfax) - The earnings before interest, taxes, depreciation and amortization (EBITDA) of RusHydro to International Financial Reporting Standards (IFRS) fell by 25% year-on-year in Q1 2015 to 19.113 billion rubles, the company said in a report.
The net profit of the company fell by 17% to 11.862 billion rubles.
The company's revenue was 94.6 billion rubles against 91.6 billion rubles a year earlier. State subsidies fell by 3% to 3 billion rubles. Operating expenses were 84.8 billion rubles, which is 13.6% more than a year earlier.
RusHydro has calculated the results of January-March according to Russian Accounting Standards (RAS). According to the presented data, adjusted net profit in Q1 fell 18% year-on-year to 8.4 billion rubles. EBITDA fell 18% to 13.3 billion rubles.
RusHydro is a power company and includes hydropower plants and thermal power plants with over 38 gigawatts of capacity. The state owns 66.8% of shares.