TGC-1 releases unaudited interim consolidated Financial Statements for the 3 months period, ended March 31, 2017 prepared in accordance with International Financial Reporting Standards (IFRS).
|
Consolidated Statement of Comprehensive Income Highlights (RUB mln) |
3Ě 2016 |
3Ě 2017 |
|
Revenue |
25 238 |
25 776 |
|
Operating Expenses* |
(19 310) |
(19 830) |
|
Operating Profit |
5 929 |
5 946 |
|
EBITDA** |
7 683 |
7 974 |
|
Profit for the Period |
4 386 |
3 966 |
* With account to Other operating income and Government subsidy.
** EBITDA is calculated as Operating profit + Depreciation of PP&E + Amortization of intangible assets and investment property.
Consolidated TGC-1 Group revenue for 3M 2017 increased by 2.1% year-on-year, up to RUB 25,776 mln.
Operating expenses for 1Q 2017 grew by 2.7% year-on-year, up to RUB 19,830 mln. Variable costs remained flat at RUB 13,932 mln. Fixed costs increased by 2.2%, up to RUB 4,049 mln.
TGC-1 operating profit increased by 0.3% year-on-year totaling RUB 5,946 mln. EBITDA amounted to RUB 7,974 mln, up by 3.8% year-on-year.
Profit for 1Q 2017 declined by 9.6% year-on-year, down to RUB 3,966 mln, mostly on the account of growing income tax.
Full TGC-1 3M 2017 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.
TGC-1 installed electric capacity of the Company’s stations amounts to 6.95 GW and heating capacity of 14,53 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.
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