Today, Acron (Moscow Exchange and LSE: AKRN) has released its unaudited RAS financial statements for 1Q 2014.
• Revenue totalled RUB 8,782 million, down 4% year-on-year (Q1 2013: RUB 9,101 million)
• Sales profit was RUB 2,585 million, down 6% year-on-year (Q1 2013: RUB 2,748 million)
• EBITDA* was RUB 2,812 million, down 3% (Q1 2013: RUB 2,892 million)
• EBITDA margin was 32%, no change year-on-year
• Net loss totalled RUB 2,842 million, including a loss of RUB 1,761 million due to a mark-to-market revaluation of Acron’s financial investments, and foreign exchange loss of RUB 2,362 million. As a result, net profit excluding these items increased 17% to RUB 1,281 million against RUB 1,096 million year-on-year.
* EBITDA is calculated as operating profit plus depreciation and amortisation, profit (loss) from currency exchange and other non-cash and non-standard items.