TGC-1 releases unaudited interim consolidated Financial Statements for the 9 months period, ended 30 September 2019 prepared in accordance with International Financial Reporting Standards (IFRS).
|
Consolidated Statement of Comprehensive Income Highlights (RUB mln) |
9Ì 2018* |
9Ì 2019 |
|
Revenue |
63,707.9 |
69,824.8 |
|
Operating Expenses |
(53,866.8) |
(56,419.9) |
|
Operating Profit |
10,348.0 |
14,784.5 |
|
EBITDA** |
16,201.6 |
22,146.0 |
|
Profit for the Period |
8,548.4 |
10,903.6 |
* 9M 2018 results were restated dew to “Government subsidies” and “Income from rent” items transfer from “Other operating income” to “Revenue”
** EBITDA is calculated as Operating profit + Depreciation and Amortization.
Consolidated TGC-1 Group revenue for 9M 2019 increased by 9.6% year-on-year, up to RUB 69,824.8 mln. The revenue dynamics main drivers were increased revenue from electricity sales at the day-ahead market and from heat sales, as well as measures for operating performance improvement.
Group’s comparable operating expenses grew by 4.7%, up to RUB 56,419.9 mln, mainly, on the back of increased fuel expenses.
Hence, Group’s operating profit increased by 42.9% year-on-year totaling RUB 14,784.5 mln. EBITDA amounted to RUB 22,146.0 mln, up by 36.7% year-on-year.
Profit grew by 27.6% year-on-year, up to RUB 10,903.6 mln.
Full TGC-1 9M 2019 results under IFRS are available at the corporate website in the “Reports” section.
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 53 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 6.95 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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