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Acron Releases RAS Consolidated Statements for H1 2011

Today, Acron (RTS, MICEX and LSE: AKRN) released its non-audited consolidated RAS financial statements for H1 2011.

Financial Highlights

• Revenue totalled RUB 30.21 billion, up 36% year-on-year (H1 2010: RUB 22.16 billion).
• EBITDA* was up 90% year-on-year to RUB 10.14 billion (H1 2010: RUB 5.34 billion).
• EBITDA margin was 34%, up from 24% in H1 2010.
• Net profit totalled RUB 11.28 billion, including a gain of RUB 3.79 billion due to a mark-to-market revaluation of Acron’s financial investments. Net profit before revaluation increased by a factor of 4.1 to RUB 7.48 billion, against RUB 1.83 billion for the same period of 2010.
• Net debt was up 4% to RUB 29.42 billion.

*EBITDA is calculated as sales profit plus depreciation and amortisation.

 Financial Statement (in Russian)