Inter RAO expecting IFRS EBITDA of 55 bln rubles in 2015
MOSCOW. Nov 27 (Interfax) - OJSC Inter RAO UES is expecting EBITDA under International Financial Reporting Standards (IFRS) to be 55 billion rubles in 2015, the head of the company's strategy and investment block, Ilnar Mirsiyapov, said during a conference call on Thursday.
Inter RAO expects EBITDA to total 48-49 billion rubles at the end of 2014.
According to the company's long-term development program to 2020, Inter RAO expects to have 61.3 billion rubles in EBITDA in 2015.
Mirsiyapov said that 61 billion rubles of this was managing EBITDA that consolidates the entire Russian portion of business, including a 100% reflection of Nizhnevartovskaya GRES' EBITDA and 50% of EBITDA from two JVs.
"If we switch to the language of IFRS, then the expected, forecast level of EBITDA including all factors that we already know about - both competitive capacity outtake and exchange rate differences - then it's around 55 billion rubles under IFRS for 2015," he said.
Mirsiyapov added that this figure might grow further in 2015. "Depending on the level of inflation in 2015, we are even expecting an upwards adjustment - accordingly, if inflation exceeds the scenarios that we are including as part of our business plan," he said.
Inter RAO is a diversified energy holding with assets in Russia, the CIS and Europe. Its power plants have 35,000 megawatts of installed capacity and generated 147.5 billion kilowatt-hours of electricity in 2013. Inter RAO is also the operator for Russia's electricity imports and exports.
Rosneftegaz has 27.63% of shares, Federal Grid Co - 18.6%, Norilsk Nickel - 13.21% and RusHydro - 4.92%. The company holds 19% of shares as quasi-treasury stock. Minority shareholders have 16.65%.