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TGC-1

August 1, 2013

JSC TGC-1 releases the first half of 2013 RAS Results

JSC TGC-1 has published its financial report for the first half of 2013, prepared in accordance with Russian Accounting Standards.

Main indicators of the Report on Financial Results (mln RUR)

6 months of

2013

6 months of

2012

Revenue

36,234.3

30,739.6

Cost of sales

(31,544.4)

(27,464.3)

Gross profit

4,689.8

3,275.3

Interest receivable

117.2

92.4

Interest payable

(1,080.3)

(806.4)

Other income

2,246.1

1,353.1

Other expenditure

(2,523.6)

(1,167.0)

Net profit

2,668.1

2,132.7

The company's revenue for the 6 months of 2013 increased by 17.9 % compared to the same figure last year and reached 36.2343 billion roubles.

The main share of revenue comes from the income from the sale of electric energy, which according to the results of the first half of 2013 increased by 20.0 % to 15.9692 billion roubles, mainly due to increased sales volumes and price increases on the balancing market and the day-ahead market.

Thanks to the effective work of new units, revenue from sales of power increased by 28.5 % to 7.0384 billion roubles, while revenues from the sale of power on power supply contracts (DPM) increased more than 1.5 times compared to the same figures from the first half of 2012 and reached 3.6194 billion roubles. Earnings from the sale of power on competitive selection of power (KOM) increased by 14.5 %, reaching 2.414 billion roubles.

Revenues from the sale of heating energy increased by 9.7 % to 13.0165 billion roubles, which is due to the increase in heating tariffs in the second half of 2012. Other sales account for 210.2 million roubles.

According to the results for the 6 months of 2013, the cost of production increased by 14.9 % to 31.5444 billion roubles. The key impact on the changing costs was the growth in depreciation charges on new equipment and expenditure on fuel.

As a result, gross profit of JSC TGC-1 for the first half of 2013 was 4.6898 billion roubles, increasing by 43.3 %. The EBITDA indicator exceeded the previous year’s level by 29.8 %, reaching 8.2224 billion roubles.

Net profit of the reporting period increased by 25.1 % compared to the same figures in 2012 and was fixed at the level of 2.6681 billion roubles.

Further information about the financial results of JSC TGC-1 operations for the first half of 2013 according to RAS can be found on the company website in the section ‘Reports’.

 

 

 

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