Rosenergoatom expects revenue to grow 6.6% on average, EBITDA to drop 4% in 2014
MOSCOW. May 22 (Interfax) - Rosenergoatom, Russia's state nuclear power company, expects revenue to grow by 6.3-6.9% in 2014, but earnings before interest, tax, depreciation and amortization (EBITDA) to drop 3.3-4.9%, according to the materials presented by the company's deputy CEO for economics Alla Arkhangelskaya at an international conference on the safety, efficiency and economics of nuclear power.
The document presents the initial financial targets for 2014, as well as a revised forecast. The initial and revised projects were 247.6 billion rubles and 249 billion rubles respectively for revenue, and 99.6 billion rubles and 101.2 billion rubles for EBITDA.
The company initially targeted electricity output at 171 billion kWh, but then revised the forecast to 174.2 billion kWh.
The company's EBITDA was 104.7 billion rubles in 2013. Rosenergoatom closed 2013 with net profit to Russian Accounting Standards of 2.2 billion rubles on revenue of 232.9 billion rubles, and it produced 172.2 billion kWh of electricity.
Rosenergoatom, a division of Rosatom, operates all active nuclear power plants in Russia.
