TGC-1 published its 6 months 2019 financial statements under the Russian Accounting Standards (RAS).
|
Statement of financial performance (mln RUB) |
6M 2018 |
6M 2019 |
|
Revenue |
45,630.5 |
48,641.5 |
|
Costs |
(38,725.6) |
(40,572.1) |
|
Gross profit |
6,904.9 |
8,069.4 |
|
EBITDA* |
11,397.0 |
13,773.3 |
|
Net profit |
5,851.1 |
7,995.1 |
* EBITDA = profit before taxation – interest receivable + interest payable – revenue from participation in other companies + depreciation & amortization.
The Company's revenue totalled RUB 48 billion 641.5 million, which is 6.6% higher than for the same period in 2018 - mainly due to the growth of electricity sales volume at the day-ahead market and CDA sales.
Production costs increased by 4.8% to RUB 40 billion 572.1 million mostly due to the increase of production at CHPPs.
TGC-1's gross profit amounted to RUB 8 billion 069.4 million (an increase of 16.9%).
EBITDA grew by 20.9% and reached RUB 13 billion 773.3 million.
Net profit for the reporting period amounted to RUB 7 billion 995.1 million, which is 36.6% higher than for the first half of last year.
To find out more about the financial performance of TGC-1 for the 6 month of 2019, please visit the Reportssection at the corporate website.
About
TGC-1 is the leading producer of electricity and heat in the North-West region of Russia. It operates 53 electric generating stations in four regions of Russia: St. Petersburg, Republic of Karelia, Leningrad Oblast, and Murmansk Oblast.
TGC-1 installed electric capacity of the Company’s stations amounts to 6.95 GW and heating capacity of 13.75 thous. Gcal/hr. Major shareholders are Gazprom Energoholding LLC (51.79%) and Fortum Power and Heat Oy (29.45%).
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