TGC-1 releases audited consolidated Financial Statements for the 12 months period, ended December 31, 2021 prepared in accordance with International Financial Reporting Standards (IFRS).

* EBITDA = Operating profit + Depreciation and Amortization + Accrual on non-financial assets impairment - Reversal on non-financial assets impairment  

Consolidated TGC-1 Group revenue for 2021 increased by 15.1% year-on-year, up to RUB 102,280 mln. Electricity and heat sales growth resulted from lower air temperature during 2021 heating season, earlier heating season start in 2021, as well as electricity consumption revival on the back of partial restrictions cancellation for business activity.

Group’s comparable operating expenses increased by 20.9%, up to RUB 93,023 mln year-on-year, mainly, on the account of growing fuel expenses and energy purchases, on the back of increased production.

Group’s operating profit decreased to RUB 9,513 mln, EBITDA amounted to RUB 22,882 mln. Profit for the period amounted to RUB 7,114 mln.

Full TGC-1 12M 2021 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 52 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 6.9 GW and heating capacity of 13,5 thous. GCal/hr. Major shareholders are Gazprom Energoholding LLC (51.79 %).