TGC-1's net profit under RAS increased by 2.5 times based on the results of 9 months of 2016

27.10.2016

TGC-1 published its 9 month 2016 financial statements under the Russian Accounting Standards (RAS).  

Statement of financial performance (mln RUB)

9M 2015

9M 2016

Revenue

45,524.7

51,416.0

Costs

(42,748.7)

(45,655.5)

Gross profit

2,776.0

5,760.4

EBITDA*

9,206.9

11,156.0

Net profit

1,430.9

3,535.1

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

TGC-1's revenue for three quarters of 2016 comprised RUB 51,416 mln, thus having incremented by 12.9% as compared to 2015; it is stipulated, in particular, by an overall increase of electricity and heat generation due to a bigger share of new efficient power generating units.

According to the results of 9 months of 2016, energy generated by the new power generating units increased by 17% to 4,884.2 mln kWh, making it 24.1%.

Productions costs grew by 6.8% to RUB 45,655.5 mln. The key factor that contributed to the aforementioned growth of production costs is mainly increase of fuel and heat transmission costs due to the incremented production output.

Gross profit of TGC-1 for 9 months of 2016 rose to RUB 5,760.4 mln, thus having doubled as compared to 2015. EBITDA grew by 21.2% to RUB 11,156 mln. Net income in the reporting period increased by 2.5 times YOY and amounted to RUB 3,535.1 mln.

To find out more about the financial performance of TGC-1 in the 9M 2016, please visit the Reports section at the corporate website.