TGC-1 1Q 2022 RAS Net Profit Increased by 36.4%

TGC-1 releases 3M 2022 financial statements under the Russian Accounting Standards (RAS).

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

The Company’s revenue amounted to RUB 33 billion 925.7 million, which is 7.7% higher than for the same period of 2021. The revenue increase resulted from growing electricity spot prices and increased electricity and heat demand in the North-West on the back of lower air temperature in 1Q 2022.

Production costs increased by 2.2% to RUB 26 billion 025.1 million, resulting from increased production volume.

TGC-1's gross profit increased to RUB 7 billion 900.6 million. EBITDA amounted to RUB 10 billion 224.1 million. Net profit amounted to RUB 6 billion 711.8 million (+36.4%).

To find out more about the financial performance of TGC-1 for the 3M 2022, please visit the Reports section at the corporate website.

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 52 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 6.9 GW and heating capacity of 13.5 thous. Gcal/hr. Major shareholders are Gazprom Energoholding LLC (51.79%) and Fortum Power and Heat Oy (29.45%).