Acron’s net profit in 1H2023 amounted to $248 million

Acron reported the results of its audited consolidated financial statements under International Financial Reporting Standards (IFRS) for the first half of 2023.

Financial results

Revenue decreased by 40% to 87.96 billion rubles ($1.144 billion), compared with the result for the first half of 2022 – 147.53 billion roubles ($1.934 billion).

EBITDA decreased by 55% to 36.783 billion rubles ($478 million), compared with the result for the first half of 2022 – 81.44 billion roubles ($1.067 billion).

The EBITDA margin was 42% versus 55% in the first half of 2022.

Net profit decreased by 74% to 19.043 billion roubles ($248 million) compared to the result for the first half of 2022 – 74.330 billion roubles ($974 million).

Net debt decreased by 19% to 31.988 billion roubles compared to 39.424 billion rubles at the end of 2022. In dollar terms, this indicator decreased by 34%, from $560 to $368 million.

Net debt/LTM EBITDA since the end of 2022 remained unchanged both in rouble and dollar terms and amounted to 0.3.

Operating results

The volume of production of the main products amounted to 4.3 million tons, which is 6% higher than the result for the first half of 2022.

The volume of sales of the main products amounted to 4.208 million tons, which is 1% higher than the result for the first half of 2022.