TGC-1 releases 9M 2021 financial statements under the Russian Accounting Standards (RAS).

* EBITDA = profit before taxation — interest receivable + interest payable — revenue from participation in other companies + depreciation & amortization.

The Company’s revenue amounted to RUB 68 billion 555.3 million, which is 17.4% higher than for the same period of 2020. Among the factors of the revenue increase there were growing wholesale electricity and heat demand in the North-West and growing heat output on the back of lower air temperature in the heating period of 2021.

Production costs increased by 14.7% to RUB 60 billion 618.4 million, resulting from increased production volume. The main cause for the costs growth was growing fuel expenses, on the back of increased electricity and heat production.

TGC-1’s gross profit increased to RUB 7 billion 936.8 million. EBITDA amounted to RUB 14 billion 244.1 million. Net profit amounted to RUB 7 billion 144.7million (+58.9%).

To find out more about the financial performance of TGC-1 for the 9M 2021, please visit the Reports section at the corporate website.

About

TGC-1 (part of the Gazprom Energoholding Group) is a leading producer and supplier of electricity and heat in the North-West of Russia. TGC-1 comprises 52 power plants within four constituent entities of the Russian Federation: St. Petersburg, the Republic of Karelia, and Leningrad and Murmansk Oblasts.

TGC-1 installed electric capacity of the Company’s stations amounts to 6.9 GW and heating capacity of 13.5 thous. Gcal/hr. Major shareholder are Gazprom Energoholding LLC (51.79%).