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TGC-1

April 28, 2017

TGC-1 increased its RAS net profit by 14.5% in Q1 2017

TGC-1 published its 3 months 2017 financial statements under the Russian Accounting Standards (RAS).

Statement of financial performance (mln RUB)

3M 2016

3M 2017

Revenue

23,833.1

24,660.7

Costs

(18,955.7)

(19,920.7)

Gross profit

4,877.4

4,740.0

EBITDA*

6,330.5

7,087.9

Net profit

3,253.4

3,726.4

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

The Company's revenue for 3 months of 2017 increased by 3.5% YOY and comprised RUB 24,660.7 mln. Revenue growth was driven by the growth in estimated price for CDA facilities.

Production cost increased by 5.1% to RUB 19,920.7 mln, also due the to an increase in heat transmission.

Gross profit of TGC-1 for 3 months of 2017 comprised RUB 4,740.0 mln, having decreased by 2.8% compared to Q1 of the previous year.

EBITDA increased by 12.0% and comprised RUB 7,087.9 mln. Net profit for the reporting period increased by 14.5% YOY and comprised RUB 3,726.4 mln.

To find out more about the financial performance of TGC-1 in the 3M 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.

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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