TGC-1 releases audited consolidated Financial Statements for the 12 months period, ended 31 December, 2018 prepared in accordance with International Financial Reporting Standards (IFRS).

^{* 2017FY results restated dew to transfer of items “Government subsidy” and “Income from leased property” from “Other operating income” item to “Revenue”.}

^{** EBITDA is calculated as Operating profit + Depreciation of PP&E + Amortization of intangible assets and investment property.}

Consolidated TGC-1 Group revenue for 2018FY increased by 5.5% year-on-year, up to RUB 92,455 mln. The revenue dynamics were influenced by growing revenue from electricity and capacity, as well as from heat supply.

Group’s operating expenses grew by 4.7% year-on-year, up to RUB 77,390 mln. Variable costs grew by 7.9% up to RUB 48,813 mln, mainly on the account of increased fuel costs on the back of growing production. Variable costs grew by 1.9%, to RUB 20,600 mln.

Hence, Group’s operating profit for 2018FY increased by 8.0% year-on-year totaling RUB 12,948 mln. EBITDA amounted to RUB 20,926 mln, up by 2.4% year-on-year.

Profit grew by 31.5% year-on-year, up to RUB 10,421 mln.

Full TGC-1 and subsidiaries 2018FY 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. Major shareholders are Gazprom Energoholding LLC (51.79 %) and Fortum Power and Heat Oy (29.45 %). Total headcount of the Company, including subsidiaries, totals circa 7 thousand.