OREANDA-NEWS. October 22, 2009. Donbasenergo (DOEN) reported its 9M09 financial results yesterday according to Ukrainian Accounting Standards. The company's net revenues rose 8.6% yoy to UAH 1.7 bln; its net loss was UAH 100.6 mln (vs. net income of UAH 64.6 mln in 9M08).

Concorde Capital: We view these results as positive: EBITDA in 9M09 increased to zero from minus 2.6% in 1H09. We expect GenCos will be able to operate at close to zero EBITDA until the presidential elections. For the whole sector, we expect a return to positive profitability only after elections, when electricity tariffs are expected to be allowed to float.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.