TGC-1  |
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Compilation Date: | 19 May 22 |
Company Overview
General Info | |
Full Company Name | PJSC "Territorial Generating Company ¹1" |
Industrial Group | Power Industry |
Number of Employees | 6,567,800 |
Registration Date | 25 Mar 05 |
Registered Address | Bld."B", 6, Bronevaya St., St. Petersburg, 197198 |
Main Office | 16 Dobrolyubova Pr. Corp. 2, Litera A, Arena Hall Business Centre, St. Petersburg, 197198 |
Telephone / Fax | (812) 688-36-06 / (812) 688-34-77 |
e-mail | office@tgc1.ru |
Internet Home Page | hwww.tgc1.ru |
Registrar | JSC "Specialized Register for Shareholders of Gas Industry"" |
Auditor | BDO Unicon AO |
Financial Adviser | n. a. |
Legal Adviser | n. a. |
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Corporate Management |
Managing Director | Vadim Vederchik | Chairman of the Board | Vitaly Markelov |
Price Highlights | |
Price per Common Share, USD | 0.000124 |
YTD Price Change, % | -7.84 |
P/E Ratio | 5.3827 |
Market Capitalization, USD | 479,314,084 |
Common Shares in Free Float, % | n.a. |
Operations Summary | |
JSC "Territorial Generating Company ¹1" (TGC-1) was founded in March 2005 as part of Russia’s power industry reform. JSCs “Lenenergo,” “Kolenergo,” and “Karelenergogeneratsiya” acted as founders of TGC-1. On October 1, 2005, the company started its operating activity. On November 1, 2006, TGC-1 completed merging its assets and established an integrated operating company. TGC-1 JSC is the leading producer of electricity and heat in the North-West region of Russia and the second largest territorial generating company in Russia in terms of installed capacity. It operates 55 electric generating stations in four regions of Russia: St. Petersburg, Republic of Karelia, Leningrad Oblast, and Murmansk Oblast. TGC-1 shares started trading on RTS in December 2006, and on MICEX in January 2007.The company has rating by Fitch Rating (BB+). |
Shares Information
Charter Capital Structure |
Type of Share | Shares Outstanding | Nominal Value |
Common Share | 3,854,341,416,571 | 0.01 RUR |
Major Shareholders |
Name | % of Voting Stock | % of Charter Capital |
Gazprom Energoholding Ltd. | 51.79 | 51.79 | Fortum Power and Heat Oy | 29.45 | 29.45 |
Equity Positions in Other Companies |
Name | % of Charter Capital |
JSC "Murmansk TETS" | 98.85 | JSC "Saint-Petersburg Heating System" | 71.57 | JSC "Khibinskaya Heat Company" | 50.00 | TGC-Service Ltd. | 26.00 |
Dividends History |
Period | Payment per Share, USD | Number of Shares | Ex-Date | Payment Date | Payout Ratio, % | Dividend Yield, % |
2006 / com | 0.000004 | 2,925,245,464,492 | 04 May 07 | 18 Aug 07 | 20.499404 | 0.619492 | 1Q07 / com | 0.000001 | 2,925,245,464,492 | 04 May 07 | 18 Aug 07 | 5.630048 | 0.07353 | 2007 / com | n. p. | 3,850,959,750,205 | - | - | - | - | 2008 / com | n. p. | 3,854,341,416,571 | - | - | - | - | 2009 / com | 0.000001 | 3,854,341,416,571 | 11 May 10 | 25 Dec 10 | 2.076008 | 0.261689 | 2010 / com | 0.000002 | 3,854,341,416,571 | 11 May 11 | 26 Aug 11 | 2.644116 | 0.228755 | 2011 / com | 0.000002 | 3,854,341,416,571 | 28 Apr 12 | 16 Aug 12 | 4.441478 | 0.521609 | 2012 / com | 0.000004 | 3,854,341,416,571 | 29 Apr 13 | 15 Aug 13 | 7.051601 | 1.635377 | 2013 / com | n. p. | 3,854,341,416,571 | - | - | - | - | 2014 / com | 0.000003 | 3,854,341,416,571 | 09 Jul 15 | 13 Aug 15 | 12.379161 | 4.328141 | 2015 / com | 0.000004 | 3,854,341,416,571 | 06 Jul 16 | 11 Aug 16 | 15.156386 | 6.511199 | 2016 / com | 0.000006 | 3,854,341,416,571 | 06 Jul 17 | 11 Aug 17 | 27.94412 | 2.314678 | 2017 / com | 0.000008 | 3,854,341,416,571 | 22 Jun 18 | 30 Jul 18 | 22.06033 | 3.74156 | 2018 / com | 0.00001 | 3,854,341,416,571 | 25 Jun 19 | 31 Jul 19 | 23.578253 | 8.849634 | 2019 / com | 0.000014 | 3,854,341,416,571 | 06 Jul 20 | 11 Aug 20 | 43.873297 | 6.763366 | 2020 / com | 0.000015 | 3,854,341,416,571 | 02 Jul 21 | 09 Aug 21 | 49.357123 | 9.635871 |
Stock Market
Instruments on Exchanges |
Type of Instrument | Ticker | ISIN | Market |
TGC-1 | TGKA | RU000A0JNUD0 | MOEX | TGC-1 GDR | P88145T107 | US88145T1079 | PORTAL |
Price Chart |
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Participation in DR Programs |
Level | Effective Date | Underlying Share Ratio | CUSIP | Depositary Bank |
GDR Reg S | 09 Jul 08 | 1: 5000 | 88145T206 | Bank of New York Mellon | GDR 144 A | 09 Jul 08 | 1: 5000 | 88145T107 | Bank of New York Mellon |
Weightings in Indices |
Name | Weight | Inclusion Date | Notes |
RusIndex 100 | 0.07 | 01 Apr 07 | | RusIndex Fuel & Energy Complex | 0.13 | 01 Apr 07 | | RusIndex Industrials | 0.08 | 01 Apr 07 | | RusIndex Power Industry | 2.04 | 01 Apr 07 | |
Fixed Income Instruments
Issue Parameters |
Issue #/ Tranche # | Registration Number | Registration Date | Period | Par Value, RUR | Issue Volume, RUR thnd | Number of Coupons | Coupon Period | Guarantee |
01 | 4-01-03388-D | 21 Feb 07 | 2,548 | 1,000 | 4,000,000 | 14 | 182 | TGC-1 Finance | 02 | 4-02-03388-D | 21 Oct 08 | 1,820 | 1,000 | 5,000,000 | 10 | 182 | National Depositary Center | 03 | 4-03-03388-D | 08 Dec 11 | 3,640 | 1,000 | 2,000,000 | 20 | 182 | | 04 | 4-04-03388-D | 08 Dec 11 | 3,640 | 1,000 | 2,000,000 | 20 | 182 | | 05 | 4-05-03388-D | 08 Dec 11 | 3,640 | 1,000 | 2,000,000 | 20 | 182 | | 06 | 4-06-03388-D | 08 Dec 11 | 3,640 | 1,000 | 2,000,000 | 20 | 182 | |
Coupons |
Issue #/ Tranche # | Coupon # | Start Coupon Period | End Coupon Period | Coupon, % |
01 | 1 | 20 Mar 07 | 18 Sep 07 | 7.75 | 01 | 2 | 18 Sep 07 | 18 Mar 08 | 7.75 | 01 | 3 | 18 Mar 08 | 16 Sep 08 | 7.75 | 01 | 4 | 16 Sep 08 | 17 Mar 09 | 7.75 | 01 | 5 | 17 Mar 09 | 15 Sep 09 | 7.75 | 01 | 6 | 15 Sep 09 | 16 Mar 10 | 7.75 | 01 | 7 | 16 Mar 10 | 14 Sep 10 | 8.50 | 01 | 8 | 14 Sep 10 | 15 Mar 11 | 8.50 | 01 | 9 | 15 Mar 11 | 13 Sep 11 | 8.50 | 01 | 10 | 13 Sep 11 | 13 Mar 12 | 8.50 | 01 | 11 | 13 Mar 12 | 11 Sep 12 | 7.60 | 01 | 12 | 11 Sep 12 | 12 Mar 13 | 7.60 | 01 | 13 | 12 Mar 13 | 10 Sep 13 | 7.60 | 01 | 14 | 10 Sep 13 | 11 Mar 14 | 7.60 | 02 | 1 | 07 Jul 09 | 05 Jan 20 | 16.99 | 02 | 2 | 05 Jan 20 | 06 Jul 10 | 16.99 | 02 | 3 | 06 Jul 10 | 04 Jan 11 | 16.99 | 02 | 4 | 04 Jan 11 | 05 Jul 11 | 16.99 | 02 | 5 | 05 Jul 11 | 03 Jan 12 | 6.70 | 02 | 6 | 03 Jan 12 | 03 Jul 12 | 6.70 | 02 | 7 | 03 Jul 12 | 01 Jan 13 | 6.70 | 02 | 8 | 01 Jan 13 | 02 Jul 13 | 6.70 | 02 | 9 | 02 Jul 13 | 31 Dec 13 | 7.25 | 02 | 10 | 31 Dec 13 | 01 Jul 14 | 7.25 | 03 | 1 | 27 Dec 11 | 26 Jun 12 | 10.30 | 03 | 2 | 26 Jun 12 | 25 Dec 12 | 7.60 | 03 | 3 | 25 Dec 12 | 25 Jun 13 | 7.60 | 03 | 4 | 25 Jun 13 | 24 Dec 13 | 8.10 | 03 | 5 | 24 Dec 13 | 24 Jun 14 | 8.10 | 03 | 6 | 24 Jun 14 | 23 Dec 14 | 8.00 | 03 | 7 | 23 Dec 14 | 23 Jun 15 | 8.00 | 03 | 8 | 23 Jun 15 | 22 Dec 15 | 12.90 | 03 | 9 | 22 Dec 15 | 21 Jun 16 | 12.90 | 03 | 10 | 21 Jun 16 | 20 Dec 16 | 14.40 | 03 | 11 | 20 Dec 16 | 20 Jun 17 | 14.40 | 03 | 12 | 20 Jun 17 | 19 Dec 17 | 6.90 | 03 | 13 | 19 Dec 17 | 19 Jun 18 | 6.90 | 03 | 14 | 19 Jun 18 | 18 Dec 18 | 4.00 | 03 | 15 | 18 Dec 18 | 18 Jun 19 | 4.00 | 03 | 16 | 18 Jun 19 | 17 Dec 19 | 5.80 | 03 | 17 | 17 Dec 19 | 16 Jun 20 | 5.80 | 03 | 18 | 16 Jun 20 | 15 Dec 20 | 4.50 | 03 | 19 | 15 Dec 20 | 15 Jun 21 | n. a. | 03 | 20 | 15 Jun 21 | 14 Dec 21 | n. a. | 04 | 1 | 27 Feb 12 | 27 Aug 12 | 7.60 | 04 | 2 | 27 Aug 12 | 25 Feb 13 | 7.60 | 04 | 3 | 25 Feb 13 | 26 Aug 13 | 8.10 | 04 | 4 | 26 Aug 13 | 24 Feb 14 | 8.10 | 04 | 5 | 24 Feb 14 | 25 Aug 14 | 8.00 | 04 | 6 | 25 Aug 14 | 23 Feb 15 | 8.00 | 04 | 7 | 23 Feb 15 | 24 Aug 15 | 12.90 | 04 | 8 | 24 Aug 15 | 22 Feb 16 | 12.90 | 04 | 9 | 22 Feb 16 | 22 Aug 16 | 14.40 | 04 | 10 | 22 Aug 16 | 20 Feb 17 | 14.40 | 04 | 11 | 20 Feb 17 | 21 Aug 17 | 6.90 | 04 | 12 | 21 Aug 17 | 19 Feb 18 | 6.90 | 04 | 13 | 19 Feb 18 | 20 Aug 18 | 4.00 | 04 | 14 | 20 Aug 18 | 18 Feb 19 | 4.00 | 04 | 15 | 18 Feb 19 | 19 Aug 19 | 5.80 | 04 | 16 | 19 Aug 19 | 17 Feb 20 | 5.80 | 04 | 17 | 17 Feb 20 | 15 Feb 21 | 4.50 | 04 | 18 | 17 Aug 20 | 15 Feb 21 | 4.50 | 04 | 19 | 15 Feb 21 | 16 Aug 21 | n. a. | 04 | 20 | 16 Aug 21 | 14 Feb 22 | n. a. |
Primary Market |
Issue #/ Tranche # | Start Placement Date | End Placement Date | Placement Price, % | Volume Placed, RUR thnd | Maturity date | Offer Date | Offer price, % | Status | Issue Placement Registration Date |
01 | 20 Mar 07 | 20 Mar 07 | 100.00 | 4,000,000 | 11 Mar 14 | 18 Mar 10 | 100.00 | redeemed | 17 Apr 07 | 02 | 07 Jul 09 | 07 Jul 09 | 100.00 | 5,000,000 | 01 Jul 14 | | | redeemed | 09 Jul 09 | 03 | 27 Dec 11 | 27 Dec 11 | 100.00 | 2,000,000 | 14 Dec 21 | | | outstanding | | 04 | 27 Feb 12 | 11 Mar 12 | 100.00 | 2,000,000 | 14 Feb 22 | | | outstanding | | 05 | | | | | | | | annuled | | 06 | | | | | | | | annuled | |
Key Financial Characteristics
Balance Sheet |
| 31 Dec 19 | 31 Dec 20 | 31 Dec 21 | 31 Dec 19 | 31 Dec 20 | 31 Dec 21 |
| RUR mn | RUR mn | RUR mn | USD mn | USD mn | USD mn |
RUR/USD Exchange rate | 61.91 | 73.88 | 74.29 |
ASSETS, of which | 182,504.21 | 190,787 | 194,813 | 2,948.1 | 2,582.55 | 2,622.24 |
Fixed Assets and Other Non-current Assets, of which | 154,060.69 | 157,100 | 161,381 | 2,488.63 | 2,126.55 | 2,172.24 |
| Fixed Assets | 148,606.62 | 151,135 | 154,637 | 2,400.53 | 2,045.81 | 2,081.46 |
| Intangible Assets | 3,107.63 | 3,859 | 4,063 | 50.2 | 52.24 | 54.69 |
| Other Assets | 2,346.45 | 2,106 | 2,681 | 37.9 | 28.51 | 36.09 |
Current Assets, of which | 28,443.52 | 33,687 | 33,432 | 459.47 | 456 | 450 |
| Inventories | 3,613.15 | 3,728 | 3,980 | 58.37 | 50.46 | 53.57 |
| Accounts Receivable | 13,871.96 | 14,106 | 15,947 | 224.08 | 190.94 | 214.65 |
| Cash | 880.72 | 1,036 | 2,653 | 14.23 | 14.02 | 35.71 |
| Other Current Assets | 10,077.69 | 14,817 | 10,852 | 162.79 | 200.57 | 146.07 |
OWNER'S EQUITY, of which | 131,673.27 | 138,958 | 145,183 | 2,127 | 1,880.98 | 1,954.21 |
| Charter Capital | 38,543.41 | 38,543 | 38,543 | 622.61 | 521.73 | 518.8 |
| Reserves | 24,480.72 | 100,415 | 106,640 | 395.45 | 1,359.25 | 1,435.41 |
| Retained Earnings | 68,649.13 | 0 | 0 | 1,108.93 | 0 | 0 |
LIABILITIES, of which | 50,830.94 | 51,829 | 49,630 | 821.1 | 701.57 | 668.03 |
| Long-Term Debt | 4,000 | 9,500 | 12,347 | 64.61 | 128.59 | 166.19 |
| Short-Term Debt | 13,257.86 | 7,747 | 4,906 | 214.16 | 104.87 | 66.04 |
| Accounts Payable | 13,514.38 | 12,897 | 13,228 | 218.31 | 174.58 | 178.05 |
| Other Liabilities | 20,058.7 | 21,685 | 19,149 | 324.02 | 293.53 | 257.75 |
Financial data standard | IAS | IAS | IAS | IAS | IAS | IAS |
Audited | Audited | Audited | Audited | Audited | Audited |
Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated |
P&L Account |
| 31 Dec 19 | 31 Dec 20 | 31 Dec 21 | 31 Dec 19 | 31 Dec 20 | 31 Dec 21 |
| RUR mn | RUR mn | RUR mn | USD mn | USD mn | USD mn |
Average RUR/USD Exchange rate | 64.74 | 72.19 | 73.65 |
Sales | 97,255.65 | 88,889 | 102,280 | 1,502.36 | 1,231.25 | 1,388.64 |
Production Costs | 85,107.1 | 78,065 | 92,767 | 1,314.69 | 1,081.32 | 1,259.48 |
Operating Profit | 12,148.55 | 10,824 | 9,513 | 187.66 | 149.93 | 129.16 |
Other Income | -1,809.94 | -589 | -624 | -27.96 | -8.16 | -8.47 |
Income Before Taxes | 10,338.61 | 10,235 | 8,889 | 159.71 | 141.77 | 120.68 |
Net Income | 7,990.23 | 8,253 | 7,114 | 123.43 | 114.32 | 96.59 |
Financial data standard | IAS | IAS | IAS | IAS | IAS | IAS |
Audited | Audited | Audited | Audited | Audited | Audited |
Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated |
Key Ratios |
| 31 Dec 19 | 31 Dec 20 | 31 Dec 21 |
Company Valuation Coefficients | |
P/BV | 0.38 | 0.31 | 0.27 |
P/S | 0.53 | 0.47 | 0.37 |
P/E | 6.48 | 5.10 | 5.38 |
Company Efficiency Coefficients | |
Sales/Employee, USD thnd | 234.43 | 0.19 | 0.21 |
Net Profit Margin, % | 8.22 | 9.28 | 6.96 |
ROA, % | 4.60 | 4.16 | 3.71 |
ROE, % | 6.30 | 5.73 | 5.04 |
Turnover Coefficients | |
Receivables Turnover | 6.84 | 5.96 | 6.85 |
Assets Turnover | 0.56 | 0.45 | 0.53 |
Inventory Turnover | 25.89 | 22.75 | 26.71 |
Liabilities Turnover | 2.09 | 1.63 | 2.03 |
Capital Structure Coefficients | |
Equity Ratio | 0.72 | 0.73 | 0.75 |
Debt Ratio | 0.28 | 0.27 | 0.25 |
Equity/Debt | 2.59 | 2.68 | 2.93 |
Current Liquidity | 1.02 | 1.33 | 1.63 |
Quick Liquidity | 0.89 | 1.19 | 1.44 |
Production Overview
Production |
Product | Measure | 2019 | 2020 | 2021 | Units |
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Electric power generation | 1,000,000,000 | 28.28 | 27.91 | 30.14 | kWh | Heat generation | 1,000,000 | 24.17 | 23.05 | 26.15 | GCal |
Capacity |
Product | Measure | Capacity | Units |
Installed electricity generating capacity | 1 | 6,914 | MW | Installed heat generating capacity | 1 | 13,509 | GCal/h |
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