Today Acron (RTS, MICEX and LSE: AKRN) released its unaudited RAS financials for Q1 2011.
• Revenue was up 42% year-on-year to RUB 7,405 million, (Q1 2010: RUB 5,199 million)
• Sales profit was RUB 2,795 million, slightly more than double the figure for the same period of 2010 (RUB 1,315 million)
• EBITDA* doubled as well, to RUB 2,905 million, from RUB 1,429 million for the first quarter of 2010
• EBITDA margin increased to 39%, against 27% for the same period of 2010
• Net profit was RUB 3,527 million. This figure was affected by a positive RUB 1,333 million mark-to-market revaluation of financial investments (including for securities sold). Exclusive of the revaluation, Acron’s net profit more than doubled to RUB 2,194 million (Q1 2010: RUB 940 million ).
* EBITDA is calculated as operating profit (sales profit) plus depreciation and amortisation.