Today, Acron Group (Moscow Exchange: AKRN) released its consolidated IFRS financial statements for H1 2023.
Key Financials
- H1 2023 revenue was RUB 87,957 million (USD 1,144 million), down 40% year-on-year (H1 2022: RUB 147,529 million, or USD 1,934 million).
- H1 2023 EBITDA* was RUB 36,783 million (USD 478 million), down 55% year-on-year (H1 2022: RUB 81,439 million, or USD 1,067 million).
- EBITDA margin was down to 42%, against 55% year-on-year.
- H1 2023 Net profit was RUB 19,043 million (USD 248 million), down 74% year-on-year (H1 2022: RUB 74,330 million, or USD 974 million).
- Net debt was down 19% to RUB 31,988 million, against RUB 39,424 million as of 31 December 2022. In US dollar equivalent, net debt was down 34% to USD 368 million from USD 560 million.
- Net debt/LTM EBITDA** denominated both in roubles and US dollars was 0.3, unchanged from 2022 end.
Operating Results
- Output of key products was 4.300 million tonnes, up 6% year-on-year.
- Sales of key products totalled 4.208 million tonnes, up 1% year-on-year.