TGC-1 Group IFRS EBITDA for 9M 2015 increased by 5.2%

19.11.2015

JSC TGC-1 releases its abbreviated interim unaudited consolidated Financial Statements for the 9 months period, ended September 30, 2015 prepared in accordance with International Financial Reporting Standards (IFRS).                                 

Consolidated Statement of Comprehensive Income Highlights (mln RUB)

9М 2015

9М 2014

Revenue

48,049

47,940

Operating Expenses*

(41,124)

(41,294)

Operating Profit

6,924

6,646

EBITDA**

12,304

11,695

Profit for the Period

4,036

3,913

* Includes state subsidies and other operating income.
** EBITDA is calculated as Operating profit + Depreciation of PP&E + Amortization of intangible assets and investment property.

 

Consolidated TGC-1 Group revenue for 9M 2015 increased by 0.2% year-on-year, up to 48,049 mln RUB.

Operating expenses for the 9 months of 2015 decreased by 0.4% year-on-year, down to 41,124 mln RUB. Variable costs decreased by 2.5%, down to 25,545 mln RUB mostly on the account of lower fuel costs (-7.6%). Fixed costs decreased by 1% down to 10,807 mln RUB mainly due to recovery of provision for receivables impairment.

TGC-1 operating profit grew by 4.2% year-on-year totaling 6,924 mln RUB. EBITDA amounted to 12,304 mln RUB, up to 5.2% year-on-year.

Profit for 9M 2015 increased by 3.1%, up to 4,036 mln RUB.

Full JSC TGC-1 9M 2015 results under IFRS can be found at the corporate website in the “Reports” section.