In 1H 2016, JSC TGC-1 increased its net profit under RAS by 38.2%

27.07.2016

 JSC TGC-1 published its 1H 2016 financial statements under the Russian Accounting Standards (RAS).                                  

Statement of financial performance (mln RUB)

1H 2016

1H 2015

Revenue

39,036.9

34,948.0

Costs

(33,219.1)

(31,308.8)

Gross profit

5,817.8

3,639.2

EBITDA*

9,282.3

8,276.9

Net profit

3,772.1

2,728.8

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

The company's revenue in 1H 2016 increased by 11.7% YoY to make RUB 39,036.9 mln.

Revenue from heat sales increased by 11.3% to make RUB 16,305.5 mln due to growing output in colder weather.

Revenue from electricity sales increased by 3.8% to make RUB 14,975.2 mln. Revenue from capacity sales increased by 34.8% YoY to make RUB 7,635.2 mln due to growing capacity output at the competitive capacity auction.

Production cost increased by 6.1% to make RUB 33,219.1 mln mostly due to the required production support for the growing heat output.

Gross profit of JSC TGC-1 in 1H 2016 increased by 59.9% to make RUB 5,817.8 mln. EBITDA increased by 12.1% to make RUB 9,282.3 mln. Net profit in the reporting period increased by 38.2% YoY to make RUB 3,772.1 mln.

To find out more about the financial performance of JSC TGC-1 in the 1H 2016, please visit the Reports section at the corporate website.