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TGC-1

July 29, 2019

TGC-1 increased RAS net profit by 36.6% in H1 2019

TGC-1 published its 6 months 2019 financial statements under the Russian Accounting Standards (RAS).

Statement of financial performance (mln RUB)

6M 2018

6M 2019

Revenue

45,630.5

48,641.5

Costs

(38,725.6)

(40,572.1)

Gross profit

6,904.9

8,069.4

EBITDA*

11,397.0

13,773.3

Net profit

5,851.1

7,995.1

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

The Company's revenue totalled RUB 48 billion 641.5 million, which is 6.6% higher than for the same period in 2018 - mainly due to the growth of electricity sales volume at the day-ahead market and CDA sales.

 Production costs increased by 4.8% to RUB 40 billion 572.1 million mostly due to the increase of production at CHPPs.

TGC-1's gross profit amounted to RUB 8 billion 069.4 million (an increase of 16.9%).

EBITDA grew by 20.9% and reached RUB 13 billion 773.3 million.

Net profit for the reporting period amounted to RUB 7 billion 995.1 million, which is 36.6% higher than for the first half of last year.

To find out more about the financial performance of TGC-1 for the 6 month of 2019, 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 13.75 thous. Gcal/hr. Major shareholders are Gazprom Energoholding LLC (51.79%) and Fortum Power and Heat Oy (29.45%).

 

 

 

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