OREANDA-NEWS. Inter RAO Group announced interim condensed consolidated financial statements prepared under the International Financial Reporting Standards for the first six months of 2015. The financial statements were reviewed by Ernst & Young.

Group revenue increased by 11.0% (38.7 billion rubles) to 391.6 billion rubles.

Trading Segmentshowed the most significant revenue growth. Segment revenue increased by 19.8 billion rubles (by a factor of 2) to 39.6 billion rubles. The main reasons for this large increase include an uplift in domestic trading volume and the depreciation of ruble against the currencies of our export contracts in the end of 2014, which allowed to increase both the volume of export sales and revenue expressed in rubles.

As a result, Group EBITDA increased by 39.1% to 37.3 billion rubles. The largest contribution to EBITDA is attributable to the Generation - Russian Assets Segment, which brought in 25.1 billion rubles. EBITDA increased in both electric power generation (by 3.8 billion rubles up to 18.2 billion rubles) thermal power generation (by 1.1 billion rubles to 6.9 billion rubles) sub-segmentsas a result of optimized equipment utilization, fixed cost control, selection of fuel suppliers offering the best pricing.

Group's share of profits of associates and joint ventures increased from 0.03 to 1.3 billion rubles.

The 1.3 billion ruble increase in the Group's share of profits of associates and joint venturesreflects the following: increased output of Nizhnevartovskaya TPP following the addition of the third power generation unit under CDA framework in March 2014; 0.2 billion ruble share of profit of Ekibastuzskaya TPP-2 compared to 0.4 billion ruble share of loss in the same period a year ago due to reduction of foreign exchange losses resulting from revaluation of ruble and US dollar loans.

Net income for the first six months of 2015 was 19.7 billion rubles compared to 6.9 billion rubles in the first six months of 2014.

The Group generated net income of 19.7 billion rubles for the first six months of 2015 as a result of increased efficiency of the Generation Segment and addition of new CDA facilities, as well as major positive changes in the Trading Segment following the depreciation of ruble against the core currencies of export contracts.