OREANDA-NEWS. October 25, 2010. ZAEN posted its 3Q2010 financials on October 22, having net income at UAH 37.1mn.

The company’s revenue rose by 15% yoy to UAH 1.2bn and EBITDA comprised UAH 126.7mn.

Millennium Capital sees the news as POSITIVE for the stock. In May 2010 the Energorynok, wholesale electricity market operator, has increased the purchasing price for the electricity produced by the thermal power plants by 27% from UAH 396.6 (Jan-Apr average) to UAH 502.6 (May-Sep average) per MWh. Since then ZAEN managed finally to give up losses and achieve net margin at about 5-7%.