Dniproenergo posts 61% y-o-y revenue growth in 3Q10

Dniproenergo (UX: DNEN UK), the electricity generating company with 8.2 GW installed capacity, reported 61% y-o-y revenue growth to UAH 1,802 mln in 3Q10, according to a company filing yesterday. EBITDA amounted to UAH 221 mln in 3Q10, with a margin of 12% vs. -2% in 3Q09, while net income amounted to UAH 35.3 mln, with a margin of 2% vs. -8% in 3Q09. Yegor Samusenko: Dniproenergo’s impressive y-o-y growth is a result of increased capacity utilization. The company, which operates three power plants was the least utilized in 2009 at 18% capacity utilization. Since improved electricity pricing in April-May 2010, its utilization has improved to 22%.