UPDATE: Enel Russia IFRS net profit falls 25.2% to 2.3 bln rbl in Jan–Mar

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MOSCOW, Apr 26 (PRIME) -- The net profit of power producer Enel Russia fell 25.2% on the year to 2.3 billion rubles in January–March, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Thursday.

Revenue decreased 5% on the year to 18.5 billion rubles in the period.

Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 16.2% to 4.6 billion rubles.

Net debt shrank 2.4% in the period to 17.5 billion rubles as of March 31.

“We are focused on delivering our strategic targets while continuing to address the current market situation characterized by persistent overcapacity and lower power demand in some of our areas of presence. The impact of these challenges on our results confirmed our conservative operating and pricing assumptions for 2018,” the company quoted General Director Carlo Palasciano Villamagna as saying.

(61.7494 rubles – U.S. $1)

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