TGC-1 presents its financial statements under IFRS for 9M 2020

09 November 2020

TGC-1 releases interim abbreviated unaudited consolidated Financial Statements for the 9 months period,

Consolidated Statement of Comprehensive Income Highlights (RUB mln)

9М 2019

9М 2020




Operating Expenses



Operating Profit






Profit for the Period



* EBITDA is calculated as Operating profit + Depreciation and Amortization.

Consolidated TGC-1 Group revenue for 9M 2020 decreased by 11.7% year-on-year, down to RUB 61,645 mln. The revenue from electricity and heat sales dynamics were affected by unusually warm weather during the heating season of 2020, decreased subsidies for lost income from heat sales, lower electricity consumption on the back of COVID-19 pandemic.

 Group’s comparable operating expenses decreased by 5.7%, down to RUB 53,220 mln.

Group’s operating profit decreased to RUB 8,233 mln, EBITDA amounted to RUB 16,531 mln. Profit for the period amounted to RUB 6,375 mln.

Full TGC-1 9M 2020 results under IFRS are available at the corporate website in the “Reports” section.


TGC-1 (part of the Gazprom Energoholding Group) is a leading producer and supplier of electricity and heat in the North-West of Russia. TGC-1 comprises 52 power plants within four constituent entities of the Russian Federation: St. Petersburg, the Republic of Karelia, and Leningrad and Murmansk Oblasts.

TGC-1 installed electric capacity of the Company’s stations amounts to 6.9 GW and heating capacity of 13.5 thous. Gcal/hr. Major shareholders are Gazprom Energoholding LLC (51.79%) and Fortum Power and Heat Oy (29.45%).