Revenue of TGC-1 from the electricity sale under RAS increased by 2.2% over first six months of 2015

30.07.2015

JSC TGC-1 has published its financial report for the first half of 2015, prepared in accordance with Russian Accounting Standards.

Profit and Loss Statement Highlights (RUB million)

6M 2015

6M 2014

Revenue

34,948.0

34,907.0

Costs

(31,308.8)

(30,705.9)

Gross profit

3,639.2

4,201.1

EBITDA*

8,276.9

8,127.4

Net profit

2,728.8

2,870.2

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

The company's revenue for the 6 months of 2015 made 34.948 billion RUB and is at the previous year’s level.

The main share of revenue comes from the income from the electricity sale, which according to the results of the first half of 2015 increased by 2.2 % to 14.4281 billion RUB, due to increase of export operations by 76.8%.

Revenue from sales of capacity reduced by 16.9% compared to the figures for the similar period of 2014 to 5.6646 billion RUB which is due to reduction of sales of power on competitive capacity supply and reduction of capacity demand under regulated contracts.

The cost of production increased by 2.0% to 31.3088 billion RUB due to increase of depreciation costs and heat transit costs.

The gross profit of JSC TGC-1 for 6 months of 2015 was 3.6392 billion RUB, decreasing by 13.4 %. The EBITDA indicator increased by 1.8% to 8.2769 billion RUB. The net profit for the first half of 2015 reduced by 4.9% compared to the same figures in 2014 and was fixed at the level of 2.7288 billion RUB.