OREANDA-NEWS. On 09 April 2009 Dorogobuzh (a company of Acron Group) announced its RAS-based results for 2008.

Non-consolidated RAS Financial Results for 2008

• Revenues grew 32% year-on-year reaching RUB 9,826 million against RUB 7,416 million in 2007.

• Operating profit worked out at RUB 3,703 million, an 86% growth year-on-year (2007: RUB 1,991 million).

• EBITDA* increased 84% year-on-year to RUB 3,842 million (2007: RUB 2,086 million).

• EBITDA margin was 39 % - up from 28% in 2007.

• Net loss totaled RUB 9 million, including loss of RUB 2,976 million due to mark-to-market revaluation of financial investment. Net profit before revaluation grew 104% to RUB 2,967 million against RUB 1,453 million in 2007.

Consolidated RAS Financial Results for 2008

• Revenues were up 30% year-on-year reaching RUB 10,016 million against RUB 7,713 million in 2007.

• Operating profit totaled RUB 3,733 million, an 84% growth year-on-year (2007: RUB 2,028 million).

• EBITDA* increased 82% year-on-year to RUB 3,880 million (2007: RUB 2,131 million).

• EBITDA margin was 39% - up from 30% in 2007.

• Net loss totaled RUB 3 million, including loss of RUB 2,976 million due to mark-to-market revaluation of financial investment. Net profit before revaluation grew 102% to RUB 2,973 million against RUB 1,471 million in 2007.

*EBITDA is calculated as operating profit plus depreciation and amortization.