ОАО «ТГК-1» представляет отчетность по РСБУ за 1 квартал 2012 года
TGC-1 releases its accounting report under Russian Financial Accounting Standards for the first quarter of 2012.
Key figures of Profit and Loss Statement (in million of RUR) | 3 months of 2012 | 3 months of 2011 |
Revenue | 18,804 | 19,516 |
Cost of sales | (15,841) | (14,726) |
Gross profit | 2,963 | 4,790 |
Profit from sales | 2,963 | 4,790 |
Net profit | 2,192 | 4,172 |
The Company’s revenue for January – March was down by 3.7% compared to the same period of 2011 and amounted to RUR 18,804 million. The major reasons for the revenue decrease were the price reduction on the day-ahead market and the recall of the must-run generation status from eight CHPPs of the Company in the first quarter of 2012, which resulted in the decrease of the electricity and capacity sales prices for these plants.
Electricity and capacity sales revenue has made for 55.4% of the total revenue. This figure is down by 3.9% compared to the same period of 2011 and amounted to RUR 10,410 million. Yet the capacity sales revenue has shown the positive dynamics and grew by 15.4% in the first quarter of 2012. Revenue from capacity sales under the capacity delivery agreement (CDA) has amounted to 42.9% of the total revenue mix as opposed to 6.7% in the first quarter of 2011.
Higher ambient temperatures in the first quarter of 2012 have led to decrease in heat deliveries. Heat sales revenue was down by 3.3% to reach RUR 8,351 million.
Production cost increased by 7.6% and amounted to RUR 15,841 million in the first quarter of 2012 as compared to RUR 14,726 million in the same period of the previous year. This was due to higher fuel expenses resulting from growth in production volumes, higher oil and coal prices; growth of depreciation due to commissioning of new equipment.
As a result, TGC-1’s gross profit for January – March of 2012 amounted to RUR 2,963 million which was 38.2% decrease as compared to the same period of 2011. Net profit totaled RUR 2,192 million which was 47.5% decrease as compared to the result of the first quarter of 2011.
Please visit the Company’s website at www.tgc1.ru/ir/reports/ for more information on TGC-1’s financial results for the first quarter of 2012 under RFAS.