TGC-1 releases abbreviated consolidated Financial Statements for the 6 months period, ended 30 June 2021 prepared in accordance with International Financial Reporting Standards (IFRS).
Consolidated Statement of Comprehensive Income Highlights (RUB mln)
Profit for the Period
* EBITDA is calculated as Operating profit + Depreciation and Amortization.
Consolidated TGC-1 Group revenue for 6M 2021 increased by 16.2% year-on-year, up by RUB 7,648 mln. This resulted from growing electricity consumption, growing prices at liberalized sectors of the wholesale market, as well as weather factor. The revenue includes subsidies from St. Petersburg and Murmansk Oblast amounting to RUB 2,355 mln.
Group’s operating expenses increased by 17.6%, up by RUB 6,799 mln year-on-year, to 45,349 mln, mainly, on the account of growing fuel expenses and electricity and capacity purchases, on the back of increased production and exports.
Group’s comparable operating profit increased by RUB 1,076 mln (+12.7%) year-on-year.
EBITDA amounted to RUB 15,302 mln, up by 11.5% year-on-year, mostly on the account of growing operating profit.
Profit for the period amounted to RUB 7,698 mln, up by 14.0%.
Full TGC-1 6M 2021 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 52 electric generating stations in four regions of Russia: St. Petersburg, Republic of Karelia, Leningrad Oblast, and Murmansk Oblast.
Installed electric capacity of the Company’s stations amounts to 6.9 GW and heating capacity of 13,5 thous. GCal/hr. Major shareholder is Gazprom Energoholding LLC (51.79%).