TGC-1 releases unaudited interim consolidated Financial Statements for the 6 months period, ended 30 June 2019 prepared in accordance with International Financial Reporting Standards (IFRS).
|
Consolidated Statement of Comprehensive Income Highlights (RUB mln) |
6M 2018* |
6M 2019 |
|
Revenue |
48,064.0 |
52,712.5 |
|
Operating Expenses |
(39,128.8) |
(41,404.3) |
|
Operating Profit |
9,349.3 |
12,078.8 |
|
EBITDA** |
13,220.1 |
16,940.9 |
|
Profit for the Period |
7,957.5 |
9,301.7 |
* 6M 2018 results were restated dew to “Government subsidies” and “Income from rent” items transfer from “Other operating income” to “Revenue”
** EBITDA is calculated as Operating profit + Depreciation and Amortization.
Consolidated TGC-1 Group revenue for H1 2019 increased by 9.7% year-on-year, up to RUB 52 billion 712.5 million. Growth in prices of electricity in the first price zone and capacity sale in the CDA segment was the key factor driving the revenue rise.
The Group's comparable operating expenses increased by 5.8% to RUB 41 billion 404.3 million, on the back of increased CHPP production.
As a result, the Group's operating profit rose by 29.2% to RUB 12 billion 078.8 million. EBITDA increased by 28.1% to RUB 16 billion 940.9 million.
Profit had an increase of 16.9% and reached RUB 9 billion 301.7 million.
Full TGC-1 6M 2019 results under IFRS are available at the corporate website in the “Reports” section.
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. Installed electric capacity of the Company’s stations amounts to 6.95 GW and heating capacity of 13,75 thous. GCal/hr as of 30 June 2019. Major shareholders are Gazprom Energoholding LLC (51.79 %) and Fortum Power and Heat Oy (29.45 %).
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