PJSC Enel Russia provided earnings guidance for 2016, 2017 and 2019. The company expecting earnings before interest, taxes, depreciation and amortization (EBITDA) at RUB 10 billion in 2016. The company 2016-2019 strategy envisages EBITDA targets at RUB 10.0 billion in 2016, RUB 15.9 billion in 2017 and RUB 16.9 billion in 2019. The slight reduction of 2016 EBITDA versus 2015 (RUB 10.8 billion) is mainly due to the higher fixed costs stemmed from higher forecasted inflation in 2016. In comparison with the business plan for the same period that was presented in 2015, expectations for EBITDA fell from RUB 17.1 billion. Under the 2016-2019 strategic plan, the company is expected to post a net income of RUB 0.5 billion in 2016 and continue growing from 2017 onwards, also supported by declining interest charges due to the restructuring of
Enel Russia's debt. As a result, net income in 2017 is expected to reach RUB 6.1 billion in 2017 and RUB 7.6 billion in 2019.