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


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




Operating Expenses*



Operating Profit






Profit for the Period



* 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.


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.