Unipro Publishes IFRS Financials for 2021

Unipro Group discloses the data of the audited consolidated financial statements for 2021 prepared in accordance with the International Financial Reporting Standards (IFRS).

In 2021, Unipro Group’s revenue grew by 17.0% as compared to 2020 and amounted to RUB 88.1 bn. EBITDA amounted to RUB 30.1 bn (+14.1% as compared to 2020). Underlying net profit increased by 8.9% up to RUB 17.9 bn.

The following drivers contributed to the growth of financials in 2021:

• completion of repair and reconstruction of Power Unit No. 3 of Berezovskaya GRES and resumption of payments under the capacity supply agreement (CSA) starting from May 2021, which fully compensate for the decrease in payments for the capacity of four CCGT units after transition from the CSA to payment for the capacity at competitive capacity selection (KOM) prices and regulated rates;
• higher electric power generation due to higher energy consumption as a result of economic recovery from COVID-19, impact of cold winter in early 2021 and temperature records in summer, as well as growth in electric power exports after the crisis decline in 2020;
• higher DAM prices due to an increase in domestic consumption and export of electric power, as well as indexation of gas prices since July 1, 2021 and a rise in coal prices.

Unipro Group’s Key IFRS Financials for 2021
(RUB’000)[1]:

*EBITDA is defined as earnings before interest, taxes, depreciation and amortization, and other one-offs.

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

***Underlying net profit adjusted for depreciation and other one-offs.