Net profit of TGC-1 increased by 28.7% for 9 months of 2017 under RAS


TGC-1 published its 9 months 2017 financial statements under the Russian Accounting Standards (RAS).

Statement of financial performance (mln RUB)

9M 2016

9M 2017







Gross profit






Net profit 



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

Revenue amounted to RUB 57 bn 218.8 mln, which is 11.3% higher compared with the same indicator in 2016. In particular, the revenue growth was influenced by such factors as priority load of combined-cycle gas turbines with a high efficiency (being commissioned under the CCGT-CHPP Capacity Supply Agreement of the Centralnaya CHPP), growth of electricity output at hydroelectric power plants due to higher volumes of water and heat output as the result of lower temperatures during the heating season in 2017

Total revenue from electricity sales increased by 4.4% to RUB 21 bn 966.4 mln for 9 months of 2017. Revenue from capacity sales amounted to RUB 13 bn 776.8 mln, which is 25.4% higher compared with the same period in 2016. Revenue from heat sales increased by 9.9% to RUB 21 bn 111.1 mln. 

Production cost increased by 11.3% and comprised RUB 50 bn 804.3 mln. The main factor of the production cost's increase is the growth of fuel consumptions and transition of heat energy.

Gross profit of TGC-1 amounted to RUB 6 bn 414.5 mln (increased by 11.4%).

EBITDA grew by 16.9% and amounted to RUB 13 bn 039.9 mln.

Net profit increased by 28.7% and reached RUB 4 bn 548.6 mln.

To find out more about the financial performance of TGC-1 in the 9M 2017, please visit the Reports section at the corporate website.


TGC-1 is the leading producer of electricity and heat in the North-West region of Russia. It operates 53 electric generating stations in four regions of Russia: St. Petersburg, Republic of Karelia, Leningrad Oblast, and Murmansk Oblast.

TGC-1 installed electric capacity of the Company’s stations amounts to 6.95 GW and heating capacity of 13,65 thousand Gcal/hr. Major shareholders are Gazprom Energoholding LLC (51.79 %) and Fortum Power and Heat Oy (29.45 %). Total headcount of the Company, including subsidiaries, totals circa 7 thousand.