TGC-1 published its 6 months 2017 financial statements under the Russian Accounting Standards (RAS).  

_{* EBITDA = profit before tax – interest receivable + interest payable – revenue from participation in other companies + depreciation & amortization.} 

The revenue amounted to RUB 42 billion and 454 million, which is 8.8% higher than in 2016, in particular due to commissioning under capacity delivery agreements (CDA) of high-performance power units of the gas turbine plant at Power Plant No. 1 of the Centralnaya CHPP in St. Petersburg.

Production costs increased by 9.2% to RUB 36 billion and 276.9 million, in particular due to heat transfer and fuel costs, which was caused by the growth of heat generation.

Gross profit of TGC-1 amounted to RUB 6 billion and 177.1 million, having increased by 6.2%.

EBITDA grew by 14.2% to make RUB 10 billion and 601.7 million.

Net profit increased by 21.5% and reached RUB 4 billion and 582.7 million.

To find out more about the financial performance of TGC-1 in the 6M 2017, please visit the Reportssection at the corporate website.

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.

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.