27 Aug 2014 16:45

Inter RAO narrows down 2014 EBITDA expectations to 48-49 bln rubles

MOSCOW. Aug 27 (Interfax) - Russian energy company Inter RAO UES is expecting earnings before taxes, depreciation, and amortization (EBITDA) to be 48-49 billion rubles in 2014, the company's CFO, Dmitry Palunin, said during a conference call with investors.

In May, Inter RAO announced it was expecting EBITDA of 46-49 billion rubles.

"We are prepared to narrow [it] down to 48-49 billion rubles," he said.

As reported, the company boosted EBITDA to International Financial Reporting Standards (IFRS) 30% to 28.1 billion rubles in January-June 2014. This figure was 39.2 billion rubles in 2013.

Management board member Ilnar Mirsiyapov said during a conference that the program to decommission inefficient generation capacity at Inter RAO Electrogeneration (2-3 GW), OJSC TGK-11 and LLC BGK could add 2 billion rubles to IFRS EBITDA by 2020.