OREANDA-NEWS. Acron (Moscow Exchange and LSE: AKRN) released its RAS financial statements for 2013

Financial Highlights

Revenue totalled RUB 33.42 billion, down 7% year-on-year (2012: RUB 36.06 billion)

Sales profit was RUB 9.22 billion, down 35% year-on-year (2012: RUB 14.11 billion)

EBITDA* was RUB 9.8 billion, down 33% from RUB 14.64 billion in 2012

EBITDA margin was 29% against 41% in 2012

Net loss totalled RUB 2.9 billion. The financial results were influenced by a loss of RUB 5.62 billion due to a mark-to-market revaluation of Acron's financial investments. Thus, net profit before revaluation of the financial investments decreased 65% to RUB 2.72 billion against RUB 7.85 billion year-on-year.

*EBITDA is calculated as operating profit (sales profit) plus depreciation and amortisation.