Today, Acron Group (Moscow Exchange: AKRN) has released its consolidated IFRS financial statements for 9M 2023.
Key Financials
- Revenue was RUB 130,533 million (USD 1,579 million), down 34% year-on-year (9M 2022: RUB 197,462 million or USD 2,796 million).
- EBITDA* was RUB 51,784 million (USD 626 million), down 51% year-on-year (9M 2022: RUB 105,761 million or USD 1,498 million).
- EBITDA margin decreased to 40% from 54% last year.
- Net Profit was RUB 25,637 million (USD 310 million), down 70% year-on-year (9M 2022: RUB 86,318 million or USD 1,222 million).
- Net Debt as of 30 September 2023 was down 15% to RUB 33,603 million against RUB 39,424 million as of 31 December 2022. In US dollar equivalent, Net Debt was down 38% to USD 345 million from USD 560 million.
- Net Debt/LTM EBITDA** as of 30 September 2023 was 0.4, up from 0.3 as of 31 December 2022. In US dollar equivalent, the ratio was 0.3, unchanged.
Operating Results
- Output of key products was 6.271 million tonnes, up 1% year-on-year.
- Sales of key products totalled 6.340 million tonnes, down 1% year-on-year.