Unipro Group publishes its unaudited financial results for the first half of 2022 in accordance with the International Financial Reporting Standards (IFRS).

Unipro PJSC demonstrated good financial results in the first half of 2022. Unipro Group's revenue increased by 22%, as compared to the same period of 2021, and amounted to RUB 51.4 bn. EBITDA totalled to RUB 21.1 bn (+47% as compared to the first half of 2021). Underlying net profit increased by 106% up to
RUB 17.9 bn.

The key drivers of the financials growth in the reporting period were as follows:

  • increase in electric power generation caused by increased electricity consumption. It has to be noted that the largest growth of electric power generation was achieved by the Berezovskaya GRES, with the plant increasing its generation volumes by 85%, which, apart from growing consumption, was caused by a drop in Siberian hydro power plants' generation volumes;
  • higher DAM prices due to an increase in electric power consumption, indexation of gas prices since July 1, 2021 (+ 3%) and a rise in coal prices (approx. 20% as compared to 2021);
  • payments under the Berezovskaya GRES Unit No. 3 Capacity Contract;
  • significant increase in prices at the Competitive Capacity Selection in 2022 as compared to the previous year (26% in Price Zone 1 and 18% in Price Zone 2).

The positive dynamics is also due to the high level of payment discipline achieved by former debtors in the North Caucasian Federal District.

Unipro Group's key financials for H1 2022 in accordance with IFRS
(thousand roubles)[1]:

6М 2022

6М 2021

Dynamics

Revenue

51,415,921

42,100,497

22.1%

EBITDA[2]

21,117,586

14,383,309

46.8%

EBIT[3]

17,302,949

10,689,566

61.9%

Underlying net profit[4]

17,901,090

8,685,850

106.1%

About Unipro PJSC

Unipro PJSC (till June 22, 2016 - E.ON Russia JSC) was registered in Surgut on March 4, 2005. The authorized capital of the company amounts to RUB 25,219,482,458.37, the par value of one share is RUB 0.4.

83.7% shares of Unipro PJSC are held by Uniper SE, the international energy company.

The Company's core operations comprise electric power and capacity generation and sales. Unipro PJSC is operating at the Russian market of distributed generation and engineering as well.

Unipro PJSC comprises five thermal power plants with a total capacity of 11,275 MW: Surgutskaya GRES-2 (5,687 MW), Berezovskaya GRES (2,410 MW), Shaturskaya GRES (1,500 MW), Smolenskaya GRES (630 MW), and Yayvinskaya GRES (1,048MW).

Electric power generation in 2021 amounted to 45.2 bn kWh, heat generation was 2101.0 thousand Gcal.

Unipro Group

Unipro Group including all consolidated entities and joint ventures is composed of: Unipro PJSC, Unipro Engineering LLC, AIP "Siberia" LLC, E.ON Connecting Energies OOO and Uniper Neftegaz LLC.

[1] Unipro Group's key financials as per the management accounting records in accordance with IFRS.

[2] EBITDA is defined as earnings before interest, taxes,

depreciation and amortization, and other one-offs.

[3] EBIT is defined as earnings before interest, taxes, depreciation, and other one-offs.

[4] Base net profit adjusted for depreciation and other one-offs.

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Unipro PJSC published this content on 02 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2022 08:09:02 UTC.