Dorogobuzh (a company of Acron Group) today announces its RAS results for Q1 2009.
• Revenues totaled RUB 2.57 billion, a 7% decline year-on-year (Q1 2008: RUB 2.75 billion).
• Operating profit worked out at RUB 629 million, a 45% decrease as compared with RUB 1.14 billion in Q1 2008.
• EBITDA* shrank 42% year-on-year to RUB 681 million (Q1 2008: RUB 1.17 billion).
• EBITDA margin was 27% - down from 43% in Q1 2008.
• Net profit totaled RUB 1.06 billion, including gain of RUB 713 million due to mark-to-market revaluation of Dorogobuzh’s financial investment. Therefore, net profit before revaluation declined 57% year-on-year to RUB 351 million against RUB 820 million in Q1 2008.
*EBITDA is calculated as operating profit plus depreciation and amortization.