Revenue JSC TGC-1 under the RAS for 9 months of 2014 decreased by 4.8%, net profit increased by 0.9%

30.10.2014

JSC TGC-1 has published its financial report for the nine months of 2014 under the Russian Accounting Standards.

In the nine months of 2014, the company's revenue amounted to 45 billion 441.8 million rubles, which is 4.8% less than the same period last year, in particular, due to the reduced of sale volumes on the day-ahead market by 13.2% (down to 16,087.6 million kWh).

The cost of production reduced by 4.1%, down to RUB 42,179.9 million, including through the load redistribution in favor of new and more efficient power generating units.

The gross profit of JSC TGC-1 for the nine months of 2014 amounted to RUB 3,261.9 million, which is a 13.5% reduction.

The EBITDA value has changed only slightly and was registered at the level of the nine months of 2013 at RUB 9,043.1 million.

The net profit for the nine months of 2014 amounted to RUB 1,634.3 million, which is a 0.9% increase comparing to the previous year.

Main figures of the profit and loss statement (RUB mln)

9 months, 2014

9 months, 2013

Revenue

45,441.8

47,743.8

Cost of sales

42,179.9

43,972.6

Gross profit

3,261.9

3,771.2

EBITDA*

9,043.1

9,171.9

Net profit

1,634.3

1,620.1

* EBITDA = profit before tax – interests receivable + interests payable – revenue from shareholdings in other companies + depreciation.