Ru En

Acron Releases Q1 2020 RAS Statements

  Today, Acron (MOEX and LSE: AKRN) has released its non-consolidated RAS financial statements for the first quarter of 2020. 

Key Financials

  • Revenue was down 25% year-on-year to RUB 14,920 million (Q1 2019: RUB 19,876 million)

  • Sales profit was down 66% year-on-year to RUB 2,405 million (Q1 2019: RUB 7,070 million)

  • EBITDA* was down 55% year-on-year to RUB 3,809 million (Q1 2019: RUB 8,392 million)

  • EBITDA margin was 26% against 42% in Q1 2019

  • Net loss was RUB 10,174 million against profit of RUB 7,009 million in Q1 2019. The loss in the reported period was a foreign exchange loss. The adjusted net profit excluding this item was RUB 59 million.

*EBITDA is calculated as sales profit plus depreciation and amortisation of fixed and non-tangible assets.