Acron Releases Its RAS Non-Consolidated Results for 9Months of 2008
OREANDA-NEWS On 31 October JSC Acron (LSE, RTS and MICEX: AKRN) released its RAS non-consolidated results for the nine months of 2008.
• Acron’s revenue reached RUB 22,943 million, up 104 per cent year-on-year (nine months 2007: RUB 11,225 million).
• Operating profit amounted to RUB 12,460 million, up 235 per cent year-on-year (nine months 2007: RUB 3,717 million).
• EBITDA* rallied 224 per cent to reach RUB 12,720 million, against RUB 3,929 million in nine months of 2007.
• EBITDA margin totaled 55 per cent, against 35 per cent in the same period last year.
• Acron’s net profit reached RUB 7,891 million. Net profit was affected by mark to market revaluation of financial investments, which resulted in RUB 1,805 in losses. Therefore, net profit before financial investments revaluation grew 284 per cent to RUB 9,696 million against RUB 2,528 million in the previous year.
*EBITDA is calculated as operating profit (sales) plus depreciation and amortisation.
Acron is set to release its RAS consolidated financial statements for the nine months of the year on November 10, 2008.