OJSC TGC-1 releases its abbreviated interim unaudited consolidated Financial Statements for the 3 months period, ended March 31, 2015 prepared in accordance with International Financial Reporting Standards (IFRS).

* Includes state subsidies

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

Consolidated TGC-1 revenue for 3M 2015 increased by 0.3% year-on-year, up to 22,035 mn RUR due to the following factors:

-      balanced electricity capacity utilization in favour of new effective capacity (in the first quarter 2015 electricity production by new units increased by 13.5% year-on-year, up to 2,025.5 mn kWh);

-      prises increase at the “day-ahead” electricity market;

-      warmer average weather temperature in the first quarter 2015 was ànegative factor for the revenue and caused to decrease in heat sales.

Operating expenses for the 3 months of 2015 decreased by 0.1% year-on-year, down to 17,458 mn RUR.

Variable costs decrease by 1.8%, down to 12,473 mn RUR was caused by the reduction of electricity generation by non-effective THP units and decrease in Other Materials Expenses statement item.

Fixed costs decreased by 7.3% down to 3,289 mn RUR mainly due decrease of Other Operating Expenses statement item.

Operating profit for 3M 2015 grew by 1.8% year-on-year totaling 4,577 mn RUR. EBITDA amounted to 6,364 mn RUR, which corresponds to 3.2% increase year-on-year.

According to the Financial Statements the Profit and Total comprehensive income for the period increased by 5.1%, up to 3,295 mn RUR.

Full OJSC TGC-1 3M 2015 results under IFRS can be found at the corporate website in the «Reports» section.