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Unipro 1H net profit reaches $168.8 mln against loss last year

The revenue increased by 13.5% to $635.65 mln

MOSCOW, August 1. /TASS/. Unipro received 15.5 bln rubles ($168.8 mln) of net profit in the first half of 2023 under IFRS against a loss of 1.9 bln rubles ($20.7 mln) for the same period last year, the company said on Tuesday.

Unipro's revenue increased by 13.5% to 58.3 bln rubles ($635.65 mln).

EBITDA increased by 9.4% to 23.1 bln rubles ($251.6 mln). Profit before tax amounted to 19.6 bln rubles ($213.62 mln) against a loss of 2.4 bln rubles ($26.09 mln) a year earlier.

"The main financial growth drivers of the reporting period were the following: increase in the volume of electric power generated by Unipro power plants in the first half of 2023 by 4.4% compared to last year; growth in day-ahead market and competitive capacity auction prices; receiving payments for capacity of the modernized power unit No.1 of Surgutskaya GRES-2 from June 2022; increase in payments under capacity supply agreements at power unit No.3 of Berezovskaya GRES. Additionally, the positive dynamics is due to the high payment discipline of former defaulters in the North Caucasian Federal District," the company said.