MOSCOW, August 18. /TASS/. Net profit of En+ Group under IFRS in the first half of 2022 fell by 19.3% year-on-year and reached $1.8 bln, the company announced on Thursday.

The group's revenue increased by 27.9% to $8.32 bln. At the same time, adjusted EBITDA over the six months increased by 25.8% year-on-year, reaching $2.38 bln.

The decline in net profit was attributed to an increase in interest expenses due to fluctuations in the Bank of Russia's key rate, while the increase in EBITDA and revenue was attributed to an increase in the weighted average selling price of aluminum on the London Metal Exchange, as well as a 21.6% increase in the price of electricity in the day-ahead market in the second price zone (Siberia).

The group's six-month capital expenditures reached $639 mln, down 7.8% from a year earlier.

Net debt for the reporting period increased to $11.44 bln from $8.58 bln in January-June 2021.

En+ Group is a vertically integrated producer of aluminum and electricity. It combines power plants with a capacity of 19.7 GW and aluminum production with a capacity of 3.9 mln tonnes per year through a controlling stake in Rusal.