TGC-1 9M 2017 IFRS EBITDA grew by 8.7%

08.11.2017

TGC-1 releases unaudited interim consolidated Financial Statements for the 9 months period, ended 30 September 2017 prepared in accordance with International Financial Reporting Standards (IFRS).

Consolidated Statement of Comprehensive Income Highlights (RUB mln)

9М 2016

9М 2017

Revenue

54,416

60,176

Operating Expenses*

(44,999)

(50,296)

Operating Profit

9,417

9,881

EBITDA**

14,754

16,038

Profit for the Period

6,746

6,766

* With account to Other operating income and Government subsidy.

** EBITDA is calculated as Operating profit + Depreciation of PP&E + Amortization of intangible assets and investment property.

Consolidated TGC-1 Group revenue for 9M 2017 increased by 10.6% year-on-year, up to RUB 60,176 mln, on the account of factors, including growing electricity sales at day-ahead market, as well as revenue increase from capacity delivery under CSA.

Operating expenses for 9M 2017 grew by 11.8% year-on-year, up to RUB 50,296 mln, mainly, on the account of increased fuel expenses and Depreciation of PP&E.

Commeasurable TGC-1 operating profit for 9M 2017 increased by 4.9% year-on-year totaling RUB 9,881 mln. EBITDA amounted to RUB 16,038 mln, up by 8.7% year-on-year.

Profit for 9M 2017 remained flat year-on-year, at RUB 6,766 mln.

Full TGC-1 9M 2017 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 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 13.65 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.