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EBITDA of JSC "Akron" IFRS for the first quarter of 2018 increased by 11% to $ 140 million. USA
PJSC "Akron" (Ticker on the Moscow exchange and LSE: AKRN) today announces the results of the consolidated financial statements for the first quarter of 2018.
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Financial results:

Revenues amounted to 24 million rubles. 050, has changed slightly compared to the same period 2017 – 24 073 million rubles In dollar terms, revenue grew 3%, from 409 million us dollars. USA to 423 million dollars. USA.

EBITDA* increased by 7%, to 958 7 million rubles, compared with the result for the first quarter of 2017 – 7 434 million rubles In dollar terms EBITDA increased 11%, from 126 million dollars. USA up to $ 140 million. USA.

Level EBITDA margin was 33% against 31% for the same period of 2017.

Net profit increased 2.6 times, up to 4 146 mln rubles (73 million dollars. USA), compared to the result for the first quarter of 2017 – 1 571 mln rubles (27 million dollars. USA).

Net debt increased by 4% and amounted to RUB 62 738 million compared with the result at the end of 2017 – 60 of 221 million rubles In dollar terms, this indicator grew by 5% from 1 045 to 1 096 million dollars. USA.

Net debt/LTM EBITDA** was 2.1 compared to 2.0 at the end of 2017. In dollar terms, this figure also amounted to 2.1 vs. 2.0 at the end of 2017.

 

Operating results:

Volume of production of the main products amounted to 1 900 million tonnes, which is 7% higher than similar indicator for first quarter of 2017.

Sales of core products amounted to 1 810 thousand tons, which is 1% higher than the same indicator for the first quarter of 2017.

Commenting on the results, Chairman of the Board of Directors Alexander Popov said:

"Financial indicators of the Group "Akron" continued to show strong growth. In the first quarter of 2018 Group revenue increased by 3% to 423 million dollars. USA compared to the same period last year. Thanks to cost control, EBITDA increased by 11%, to $ 140 million. USA. The EBITDA margin rose to 33%. Keeping the debt burden at a moderate level in the first quarter, we paid dividends of $ 78 million. USA.

As we have stated before, the new investment Group is flexible and allows you to adjust annual investment. Having started in the second quarter to the construction of shafts at the Talitsky area at the expense of own means, we slightly shifted the timing of implementation of investment projects in the "Akron" and "Dorogobuzh". The total capex of the Group this year will be about $ 200 million. USA. Because of this, the focus on the payment of dividends will continue and the debt burden will remain moderate".



Translated by service "Yandex.Translation"
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