TGC-1  |
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Compilation Date: | 15 Jan 21 |
Company Overview
General Info | |
Full Company Name | PJSC "Territorial Generating Company ¹1" |
Industrial Group | Power Industry |
Number of Employees | 6,567,800 |
Registration Date | 25 Mar 05 |
Registered Address | Bld."B", 6, Bronevaya St., St. Petersburg, 197198 |
Main Office | 16 Dobrolyubova Pr. Corp. 2, Litera A, Arena Hall Business Centre, St. Petersburg, 197198 |
Telephone / Fax | (812) 688-36-06 / (812) 688-34-77 |
e-mail | office@tgc1.ru |
Internet Home Page | hwww.tgc1.ru |
Registrar | JSC "Specialized Register for Shareholders of Gas Industry"" |
Auditor | BDO Unicon AO |
Financial Adviser | n. a. |
Legal Adviser | n. a. |
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Corporate Management |
Managing Director | Vadim Vederchik | Chairman of the Board | Vitaly Markelov |
Price Highlights | |
Price per Common Share, USD | 0,00016 |
YTD Price Change, % | 5,46 |
P/E Ratio | 11,4924 |
Market Capitalization, USD | 617,523,572 |
Common Shares in Free Float, % | n.a. |
Operations Summary | |
JSC "Territorial Generating Company ¹1" (TGC-1) was founded in March 2005 as part of Russia’s power industry reform. JSCs “Lenenergo,” “Kolenergo,” and “Karelenergogeneratsiya” acted as founders of TGC-1. On October 1, 2005, the company started its operating activity. On November 1, 2006, TGC-1 completed merging its assets and established an integrated operating company. TGC-1 JSC is the leading producer of electricity and heat in the North-West region of Russia and the second largest territorial generating company in Russia in terms of installed capacity. It operates 55 electric generating stations in four regions of Russia: St. Petersburg, Republic of Karelia, Leningrad Oblast, and Murmansk Oblast. TGC-1 shares started trading on RTS in December 2006, and on MICEX in January 2007.The company has rating by Fitch Rating (BB+). |
Shares Information
Charter Capital Structure |
Type of Share | Shares Outstanding | Nominal Value |
Common Share | 3,854,341,416,571 | 0,01 RUR |
Major Shareholders |
Name | % of Voting Stock | % of Charter Capital |
Gazprom Energoholding Ltd. | 51,79 | 51,79 | Fortum Power and Heat Oy | 29,45 | 29,45 |
Equity Positions in Other Companies |
Name | % of Charter Capital |
JSC "Murmansk TETS" | 98,85 | JSC "Saint-Petersburg Heating System" | 71,57 | JSC "Khibinskaya Heat Company" | 50,00 | TGC-Service Ltd. | 26,00 |
Dividends History |
Period | Payment per Share, USD | Number of Shares | Ex-Date | Payment Date | Payout Ratio, % | Dividend Yield, % |
2006 / com | 0,000004 | 2,925,245,464,492 | 04 May 07 | 18 Aug 07 | 20,499404 | 0,619492 | 1Q07 / com | 0,000001 | 2,925,245,464,492 | 04 May 07 | 18 Aug 07 | 5,630048 | 0,07353 | 2007 / com | n. p. | 3,850,959,750,205 | - | - | - | - | 2008 / com | n. p. | 3,854,341,416,571 | - | - | - | - | 2009 / com | 0,000001 | 3,854,341,416,571 | 11 May 10 | 25 Dec 10 | 2,076008 | 0,261689 | 2010 / com | 0,000002 | 3,854,341,416,571 | 11 May 11 | 26 Aug 11 | 2,644116 | 0,228755 | 2011 / com | 0,000002 | 3,854,341,416,571 | 28 Apr 12 | 16 Aug 12 | 4,441478 | 0,521609 | 2012 / com | 0,000004 | 3,854,341,416,571 | 29 Apr 13 | 15 Aug 13 | 7,051601 | 1,635377 | 2013 / com | n. p. | 3,854,341,416,571 | - | - | - | - | 2014 / com | 0,000003 | 3,854,341,416,571 | 09 Jul 15 | 13 Aug 15 | 12,379161 | 4,328141 | 2015 / com | 0,000004 | 3,854,341,416,571 | 06 Jul 16 | 11 Aug 16 | 15,156386 | 6,511199 | 2016 / com | 0,000006 | 3,854,341,416,571 | 06 Jul 17 | 11 Aug 17 | 27,94412 | 2,314678 | 2017 / com | 0,000008 | 3,854,341,416,571 | 22 Jun 18 | 30 Jul 18 | 22,06033 | 3,74156 | 2018 / com | 0,00001 | 3,854,341,416,571 | 25 Jun 19 | 31 Jul 19 | 23,578253 | 8,849634 | 2019 / com | 0,000014 | 3,854,341,416,571 | 06 Jul 20 | 11 Aug 20 | 43,873297 | 6,763366 |
Stock Market
Instruments on Exchanges |
Type of Instrument | Ticker | ISIN | Market |
TGC-1 | TGKA | RU000A0JNUD0 | MOEX | TGC-1 GDR | P88145T107 | US88145T1079 | PORTAL |
Price Chart |
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Participation in DR Programs |
Level | Effective Date | Underlying Share Ratio | CUSIP | Depositary Bank |
GDR Reg S | 09 Jul 08 | 1: 5000 | 88145T206 | Bank of New York Mellon | GDR 144 A | 09 Jul 08 | 1: 5000 | 88145T107 | Bank of New York Mellon |
Weightings in Indices |
Name | Weight | Inclusion Date | Notes |
RusIndex 100 | 0,09 | 01 Apr 07 | | RusIndex Fuel & Energy Complex | 0,17 | 01 Apr 07 | | RusIndex Industrials | 0,11 | 01 Apr 07 | | RusIndex Power Industry | 1,99 | 01 Apr 07 | |
Fixed Income Instruments
Issue Parameters |
Issue #/ Tranche # | Registration Number | Registration Date | Period | Par Value, RUR | Issue Volume, RUR thnd | Number of Coupons | Coupon Period | Guarantee |
01 | 4-01-03388-D | 21 Feb 07 | 2,548 | 1,000 | 4,000,000 | 14 | 182 | TGC-1 Finance | 02 | 4-02-03388-D | 21 Oct 08 | 1,820 | 1,000 | 5,000,000 | 10 | 182 | National Depositary Center | 03 | 4-03-03388-D | 08 Dec 11 | 3,640 | 1,000 | 2,000,000 | 20 | 182 | | 04 | 4-04-03388-D | 08 Dec 11 | 3,640 | 1,000 | 2,000,000 | 20 | 182 | | 05 | 4-05-03388-D | 08 Dec 11 | 3,640 | 1,000 | 2,000,000 | 20 | 182 | | 06 | 4-06-03388-D | 08 Dec 11 | 3,640 | 1,000 | 2,000,000 | 20 | 182 | |
Coupons |
Issue #/ Tranche # | Coupon # | Start Coupon Period | End Coupon Period | Coupon, % |
01 | 1 | 20 Mar 07 | 18 Sep 07 | 7,75 | 01 | 2 | 18 Sep 07 | 18 Mar 08 | 7,75 | 01 | 3 | 18 Mar 08 | 16 Sep 08 | 7,75 | 01 | 4 | 16 Sep 08 | 17 Mar 09 | 7,75 | 01 | 5 | 17 Mar 09 | 15 Sep 09 | 7,75 | 01 | 6 | 15 Sep 09 | 16 Mar 10 | 7,75 | 01 | 7 | 16 Mar 10 | 14 Sep 10 | 8,50 | 01 | 8 | 14 Sep 10 | 15 Mar 11 | 8,50 | 01 | 9 | 15 Mar 11 | 13 Sep 11 | 8,50 | 01 | 10 | 13 Sep 11 | 13 Mar 12 | 8,50 | 01 | 11 | 13 Mar 12 | 11 Sep 12 | 7,60 | 01 | 12 | 11 Sep 12 | 12 Mar 13 | 7,60 | 01 | 13 | 12 Mar 13 | 10 Sep 13 | 7,60 | 01 | 14 | 10 Sep 13 | 11 Mar 14 | 7,60 | 02 | 1 | 07 Jul 09 | 05 Jan 20 | 16,99 | 02 | 2 | 05 Jan 20 | 06 Jul 10 | 16,99 | 02 | 3 | 06 Jul 10 | 04 Jan 11 | 16,99 | 02 | 4 | 04 Jan 11 | 05 Jul 11 | 16,99 | 02 | 5 | 05 Jul 11 | 03 Jan 12 | 6,70 | 02 | 6 | 03 Jan 12 | 03 Jul 12 | 6,70 | 02 | 7 | 03 Jul 12 | 01 Jan 13 | 6,70 | 02 | 8 | 01 Jan 13 | 02 Jul 13 | 6,70 | 02 | 9 | 02 Jul 13 | 31 Dec 13 | 7,25 | 02 | 10 | 31 Dec 13 | 01 Jul 14 | 7,25 | 03 | 1 | 27 Dec 11 | 26 Jun 12 | 10,30 | 03 | 2 | 26 Jun 12 | 25 Dec 12 | 7,60 | 03 | 3 | 25 Dec 12 | 25 Jun 13 | 7,60 | 03 | 4 | 25 Jun 13 | 24 Dec 13 | 8,10 | 03 | 5 | 24 Dec 13 | 24 Jun 14 | 8,10 | 03 | 6 | 24 Jun 14 | 23 Dec 14 | 8,00 | 03 | 7 | 23 Dec 14 | 23 Jun 15 | 8,00 | 03 | 8 | 23 Jun 15 | 22 Dec 15 | 12,90 | 03 | 9 | 22 Dec 15 | 21 Jun 16 | 12,90 | 03 | 10 | 21 Jun 16 | 20 Dec 16 | 14,40 | 03 | 11 | 20 Dec 16 | 20 Jun 17 | 14,40 | 03 | 12 | 20 Jun 17 | 19 Dec 17 | 6,90 | 03 | 13 | 19 Dec 17 | 19 Jun 18 | 6,90 | 03 | 14 | 19 Jun 18 | 18 Dec 18 | 4,00 | 03 | 15 | 18 Dec 18 | 18 Jun 19 | 4,00 | 03 | 16 | 18 Jun 19 | 17 Dec 19 | 5,80 | 03 | 17 | 17 Dec 19 | 16 Jun 20 | 5,80 | 03 | 18 | 16 Jun 20 | 15 Dec 20 | 4,50 | 03 | 19 | 15 Dec 20 | 15 Jun 21 | n. a. | 03 | 20 | 15 Jun 21 | 14 Dec 21 | n. a. | 04 | 1 | 27 Feb 12 | 27 Aug 12 | 7,60 | 04 | 2 | 27 Aug 12 | 25 Feb 13 | 7,60 | 04 | 3 | 25 Feb 13 | 26 Aug 13 | 8,10 | 04 | 4 | 26 Aug 13 | 24 Feb 14 | 8,10 | 04 | 5 | 24 Feb 14 | 25 Aug 14 | 8,00 | 04 | 6 | 25 Aug 14 | 23 Feb 15 | 8,00 | 04 | 7 | 23 Feb 15 | 24 Aug 15 | 12,90 | 04 | 8 | 24 Aug 15 | 22 Feb 16 | 12,90 | 04 | 9 | 22 Feb 16 | 22 Aug 16 | 14,40 | 04 | 10 | 22 Aug 16 | 20 Feb 17 | 14,40 | 04 | 11 | 20 Feb 17 | 21 Aug 17 | 6,90 | 04 | 12 | 21 Aug 17 | 19 Feb 18 | 6,90 | 04 | 13 | 19 Feb 18 | 20 Aug 18 | 4,00 | 04 | 14 | 20 Aug 18 | 18 Feb 19 | 4,00 | 04 | 15 | 18 Feb 19 | 19 Aug 19 | 5,80 | 04 | 16 | 19 Aug 19 | 17 Feb 20 | 5,80 | 04 | 17 | 17 Feb 20 | 15 Feb 21 | 4,50 | 04 | 18 | 17 Aug 20 | 15 Feb 21 | 4,50 | 04 | 19 | 15 Feb 21 | 16 Aug 21 | n. a. | 04 | 20 | 16 Aug 21 | 14 Feb 22 | n. a. |
Primary Market |
Issue #/ Tranche # | Start Placement Date | End Placement Date | Placement Price, % | Volume Placed, RUR thnd | Maturity date | Offer Date | Offer price, % | Status | Issue Placement Registration Date |
01 | 20 Mar 07 | 20 Mar 07 | 100,00 | 4,000,000 | 11 Mar 14 | 18 Mar 10 | 100,00 | redeemed | 17 Apr 07 | 02 | 07 Jul 09 | 07 Jul 09 | 100,00 | 5,000,000 | 01 Jul 14 | | | redeemed | 09 Jul 09 | 03 | 27 Dec 11 | 27 Dec 11 | 100,00 | 2,000,000 | 14 Dec 21 | | | outstanding | | 04 | 27 Feb 12 | 11 Mar 12 | 100,00 | 2,000,000 | 14 Feb 22 | | | outstanding | | 05 | | | | | | | | annuled | | 06 | | | | | | | | annuled | |
Key Financial Characteristics
Balance Sheet |
| 31 Dec 18 | 31 Dec 19 | 30 Sep 20 | 31 Dec 18 | 31 Dec 19 | 30 Sep 20 |
| RUR mn | RUR mn | RUR mn | USD mn | USD mn | USD mn |
RUR/USD Exchange rate | 69,52 | 61,91 | 78,78 |
ASSETS, of which | 167,911,79 | 182,504,21 | 174,650 | 2,415,24 | 2,948,1 | 2,216,8 |
Fixed Assets and Other Non-current Assets, of which | 141,941,75 | 154,060,69 | 155,392 | 2,041,69 | 2,488,63 | 1,972,36 |
| Fixed Assets | 138,343,33 | 148,606,62 | 150,074 | 1,989,93 | 2,400,53 | 1,904,86 |
| Intangible Assets | 2,258,15 | 3,107,63 | 3,524 | 32,48 | 50,2 | 44,73 |
| Other Assets | 1,340,26 | 2,346,45 | 1,794 | 19,28 | 37,9 | 22,77 |
Current Assets, of which | 25,970,05 | 28,443,52 | 19,258 | 373,55 | 459,47 | 244,44 |
| Inventories | 4,013,64 | 3,613,15 | 3,954 | 57,73 | 58,37 | 50,19 |
| Accounts Receivable | 14,967,64 | 13,871,96 | 11,110 | 215,29 | 224,08 | 141,02 |
| Cash | 6,866,95 | 880,72 | 1,707 | 98,77 | 14,23 | 21,67 |
| Other Current Assets | 121,81 | 10,077,69 | 2,487 | 1,75 | 162,79 | 31,57 |
OWNER'S EQUITY, of which | 124,842,54 | 131,673,27 | 137,053 | 1,795,74 | 2,127 | 1,739,59 |
| Charter Capital | 38,543,41 | 38,543,41 | 38,543 | 554,41 | 622,61 | 489,22 |
| Reserves | 24,661,01 | 24,480,72 | 98,510 | 354,72 | 395,45 | 1,250,37 |
| Retained Earnings | 61,638,12 | 68,649,13 | 0 | 886,6 | 1,108,93 | 0 |
LIABILITIES, of which | 43,069,25 | 50,830,94 | 37,597 | 619,51 | 821,1 | 477,21 |
| Long-Term Debt | 11,598 | 4,000 | 4,000 | 166,83 | 64,61 | 50,77 |
| Short-Term Debt | 7,461,59 | 13,257,86 | 3,343 | 107,33 | 214,16 | 42,43 |
| Accounts Payable | 10,518,87 | 13,514,38 | 9,147 | 151,3 | 218,31 | 116,1 |
| Other Liabilities | 13,490,79 | 20,058,7 | 21,107 | 194,05 | 324,02 | 267,91 |
Financial data standard | IAS | IAS | IAS | IAS | IAS | IAS |
Audited | Audited | Unaudited | Audited | Audited | Unaudited |
Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated |
P&L Account |
| 31 Dec 18 | 31 Dec 19 | 30 Sep 20 | 31 Dec 18 | 31 Dec 19 | 30 Sep 20 |
| RUR mn | RUR mn | RUR mn | USD mn | USD mn | USD mn |
Average RUR/USD Exchange rate | 62,68 | 64,74 | 70,84 |
Sales | 92,455,18 | 97,255,65 | 61,645 | 1,475,01 | 1,502,36 | 870,16 |
Production Costs | 79,507,04 | 85,107,1 | 53,412 | 1,268,44 | 1,314,69 | 753,95 |
Operating Profit | 12,948,14 | 12,148,55 | 8,233 | 206,57 | 187,66 | 116,21 |
Other Income | -632,42 | -1,809,94 | -413 | -10,09 | -27,96 | -5,83 |
Income Before Taxes | 12,315,72 | 10,338,61 | 7,820 | 196,48 | 159,71 | 110,38 |
Net Income | 10,421,4 | 7,990,23 | 6,375 | 166,26 | 123,43 | 89,99 |
Financial data standard | IAS | IAS | IAS | IAS | IAS | IAS |
Audited | Audited | Unaudited | Audited | Audited | Unaudited |
Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated |
Key Ratios |
| 31 Dec 18 | 31 Dec 19 | 30 Sep 20 |
Company Valuation Coefficients | |
P/BV | 0,25 | 0,38 | 0,31 |
P/S | 0,30 | 0,53 | 0,00 |
P/E | 2,65 | 6,48 | 11,49 |
Company Efficiency Coefficients | |
Sales/Employee, USD thnd | 231,06 | 234,43 | -163,09 |
Net Profit Margin, % | 11,27 | 8,22 | neg. |
ROA, % | 6,35 | 4,60 | 1,91 |
ROE, % | 8,75 | 6,30 | 2,55 |
Turnover Coefficients | |
Receivables Turnover | 5,86 | 6,84 | -6,290,73 |
Assets Turnover | 0,56 | 0,56 | -442,43 |
Inventory Turnover | 26,49 | 25,89 | -20,970,03 |
Liabilities Turnover | 2,06 | 2,09 | -1,953,31 |
Capital Structure Coefficients | |
Equity Ratio | 0,74 | 0,72 | 0,78 |
Debt Ratio | 0,26 | 0,28 | 0,22 |
Equity/Debt | 2,90 | 2,59 | 3,65 |
Current Liquidity | 1,32 | 1,02 | 1,22 |
Quick Liquidity | 1,12 | 0,89 | 0,97 |
Production Overview
Production |
Product | Measure | 2018 | 2019 | 3Q20 | Units |
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Electric power generation | 1,000,000,000 | 29,33 | 28,28 | 20,11 | kWh | Heat generation | 1,000,000 | 24,89 | 24,17 | 15,3 | GCal |
Capacity |
Product | Measure | Capacity | Units |
Installed electricity generating capacity | 1 | 6,950 | MW | Installed heat generating capacity | 1 | 13,646 | GCal/h |
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