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Acron Releases 2009 RAS Consolidated Financial Statements

Today Acron (RTS, MICEX and LSE: AKRN) released its consolidated RAS financial results for 2009.

RAS Financial Highlights for 2009

• Acron’s revenue was down 16% year-on-year to RUB 37,850 million, against RUB 45.105 million in 2008
• Acron’s sales profit totalled RUB 6,857 million, down 64% year-on-year from RUB 19,086 million in 2008
• EBITDA* slipped 60% to RUB 7,917 million, against RUB 19,858 million in 2008
• Acron posted an EBITDA margin of 21%, against 44% in 2008;
• In the reporting period Acron’s net profit totalled RUB 15,315 million. Net profit was influenced by a RUB 10,668 million mark-to-market revaluation of financial investments. Acron’s net profit exclusive of the financial investments revaluation declined 55% year-on-year to RUB 4,647 million, against RUB 10,332 million in 2008.

* EBITDA is calculated as operating profit (sales profit) plus depreciation and amortisation.

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