TGC-1 releases 9M 2021 financial statements under the Russian
Accounting Standards (RAS).
Consolidated Statement of Comprehensive Income Highlights
(RUB mln)
|
9M 2020
|
9M 2021
|
Revenue
|
58,399.1
|
68,555.3
|
Costs
|
-52,845.3
|
-60,618.4
|
Gross Profit
|
5,553.9
|
7,936.8
|
EBITDA*
|
10,987.4
|
14,244.1
|
Net profit
|
4,496.4
|
7,144.7
|
* EBITDA = profit before taxation —
interest receivable + interest payable — revenue from
participation in other companies + depreciation & amortization.
The Company’s revenue amounted to RUB
68 billion 555.3 million, which is 17.4% higher than
for the same period of 2020. Among the factors of the
revenue increase there were growing wholesale electricity and heat
demand in the North-West and growing heat output on the
back of lower air temperature in the heating period
of 2021.
Production costs increased by 14.7% to RUB
60 billion 618.4 million, resulting from increased
production volume. The main cause for the costs growth was growing
fuel expenses, on the back of increased electricity and
heat production.
TGC-1’s gross profit increased to RUB
7 billion 936.8 million. EBITDA amounted to RUB
14 billion 244.1 million. Net profit amounted to RUB
7 billion 144.7million (+58.9%).
To find out more about the financial
performance of TGC-1 for the 9M 2021, please visit the
Reports
section at the corporate website.
About
TGC-1 (part
of the Gazprom Energoholding Group) is a leading
producer and supplier of electricity and heat in the
North-West of Russia. TGC-1 comprises 52 power plants
within four constituent entities of the Russian Federation: St.
Petersburg, the Republic of Karelia, and Leningrad and Murmansk
Oblasts.
TGC-1
installed electric capacity of the Company’s stations amounts
to 6.9 GW and heating capacity of 13.5 thous.
Gcal/hr. Major shareholder are Gazprom Energoholding LLC (51.79%).
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