TGC-1 releases abbreviated unaudited consolidated Financial Statements for the 9 months period, ended September 30, 2021 prepared in accordance with International Financial Reporting Standards (IFRS).

* EBITDA is calculated as Operating profit + Depreciation and Amortization.

Consolidated TGC-1 Group revenue for 9M 2021 increased by 16.4% year-on-year, up by RUB 10,106 mln. This resulted mostly from growing electricity and heat sales.

Group’s operating expenses increased by 18.0%, up by RUB 9,579 mln year-on-year, to 62,799 mln, mainly, on the account of growing fuel expenses and electricity and capacity purchases, on the back of increased production.

Hence, Group’s comparable operating profit increased to RUB 9,181 mln (+11.5%) year-on-year. EBITDA amounted to RUB 17,830 mln, up by 7.9% year-on-year.

Profit for the period amounted to RUB 7,207 mln, up by 13.1%.

Full TGC-1 9M 2021 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 52 electric generating stations in four regions of Russia: St. Petersburg, Republic of Karelia, Leningrad Oblast, and Murmansk Oblast. Installed electric capacity of the Company’s stations amounts to 6.9 GW and heating capacity of 13,5 thous. GCal/hr. Major shareholders are Gazprom Energoholding LLC (51.79 %).

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