OREANDA-NEWS. On 15 May 2009 Acron (RTS, MICEX and LSE: AKRN) announced its RAS results for Q1 2009.

• Revenues totaled RUR 5.22 billion, a 28% decline year-on-year (Q1 2008: RUR 7.21 billion).

• Operating profit worked out at RUR 1.61 billion, a 59% decrease as compared with RUR 3.90 billion in Q1 2008.

• EBITDA* shrank 57% year-on-year to RUR 1.71 billion (Q1 2008: RUR 3.98 billion).

• EBITDA margin was 33 % - down from 55% in Q1 2008.

• Net profit totaled RUR 3.50 billion, including gain of RUR 4.07 billion due to mark-to-market revaluation of Acron’s financial investment. Therefore, net loss before revaluation was RUR 563 million against net profit of RUR 2.93 billion in Q1 2008.

*EBITDA is calculated as operating profit plus depreciation and amortization