Positive Technologies swings to IFRS net loss of 470 mln rbl in Q1

MOSCOW, May 5 (PRIME) -- Russian cybersecurity company Positive Technologies posted a net loss of 469.96 million rubles in January–March against a net profit of 145.992 million rubles in the same period a year earlier, as calculated under International Financial Reporting Standards (IFRS), the company said on Friday in a statement.

Revenue rose by 9.6% to 1.538 billion rubles.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 15% to 307.938 million rubles, and the earnings before interest, taxes, depreciation, amortization, and coronavirus (EBITDAC) quadrupled to 1.353 billion rubles.

The company’s sales were flat on the year at 1.23 billion rubles. “The expected volume of shipments in 2023 is seen at 20–25 billion rubles against 14.5 billion rubles upon results of the previous year given the maintained high level of operating effectiveness,” Operations Director Andrei Kuzin said.

(78.6139 rubles – U.S. $1)

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