OREANDA-NEWS. October 27, 2010. CEEN posted its 3Q2010 financials on October 25, having net income at UAH 8.5mn (8.1x y-o-y, ). The Company’s revenue rose by 19.7% y-o-y to UAH 1.5bn, and EBITDA gained 4.9x to UAH 93mn.

Millennium Capital sees the news as positive for the stock. Despite of the Company’s output in 3Q2010 fell by 3.8% y-o-y, the revenue has raised by 19.9%. Millennium Capital attributes those changes to the Energorynok’s decision to increase of purchasing price of thermal power plants produced electricity in May 2010 by in average 27%.  Since that, the CEEN finally gave up losses and has showed net margin in 13.6% in 2Q2010 but only 0.6% in 3Q2010, that is caused by the increase of operational and financial expenses and deferred income tax payment.