E.ON's Russian division sees 2014 EBITDA fall 9% in rubles, 25% in euro
MOSCOW. March 11 (Interfax) - The Russian division of E.ON saw earnings before taxes, depreciation, and amortization (EBITDA) fall 9% in 2014 to 26.4 billion rubles, the German concern said in a report.
EBITDA plummeted 25% in euro to 517 million euro versus 687 million euro in 2013.
The Russian division mostly comprises of OJSC E.ON Russia . E.ON also owns 15.5% of Nord Stream and 25% of the Yuzhno-Russkoye field.
Analysts told Interfax in a consensus forecast that they had expected E.ON Russia to have EBITDA of 26 billion rubles in 2014 versus 29.1 billion rubles in 2013. The company will release its IFRS report on March 17.
Overall, the concern saw EBITDA decline 9% to 8.3 billion rubles.
The Russia division's EBIT fell 9% in rubles to 18.9 billion rubles in 2014 and 25% in euro to 371 million euro.
OJSC E.ON Russia has five thermal power plants: Surgutskaya GRES-2 (with 5,597 MW of capacity), Berezovskaya GRES (1,600 MW), Shaturskaya GRES (1,493 MW), Smolenskaya GRES (630 MW) and Yayvinskaya GRES (1,025 MW). German E.ON is the controlling shareholder.