Acron incurs 1.5 bln rubles in Q3 RAS net losses
MOSCOW. Oct 27 (Interfax) - OJSC Acron posted net losses to Russian Accounting Standards (RAS) of 1.47 billion rubles in the third quarter, a company statement says.
The company ended September with Q1-Q3 net profits of 6.153 billion rubles, well up from 429.449 million rubles in the same nine months of last year.
Net profit growth was driven by a revaluation of financial investments at market value, the effect of which amounted to 1.098 billion rubles. Discounting that, net profits were up 110% at 5.055 billion rubles.
Company sales revenues increased 45% year-on-year to 22.921 billion rubles in Jan-Sept, sales profits 120% to 8.979 billion rubles, and EBITDA (earnings before interest, taxes, depreciation, and amortization) 110% to 9.344 billion rubles. The EBITDA margin was 41% for the period versus 27% for Jan-Sept last year.
