Чистая прибыль ОАО «ТГК-1» по РСБУ за 1 квартал 2013 года выросла на 17,5%
TGC-1 publishes its financial report for the first 3 months of 2013, prepared in accordance with Russian Accounting Standards.
Main indicators of Report on Financial Results (million roubles) | 3 months of 2013 | 3 months of 2012 |
Revenue | 21,886.2 | 18,803.7 |
Cost of sales | (17,984.8) | (15,840.9) |
Gross profit | 3,901.4 | 2,962.8 |
Other revenue | 1,774.4 | 696.8 |
Other expenditure | (1,856.6) | (559.1) |
Net profit | 2,575.4 | 2,192.2 |
The Company's revenue for the first 3 months of 2013 increased by 16.4% compared to figures from the previous year and reached 21,886.2 million roubles. The main factors of the positive trend in revenue were:
- 10.9% growth in average prices from the sale of electric energy on the wholesale market for electric energy and capacity, caused mainly by growth in prices on the day-ahead market: 832.8 roubles/MWh in the first 3 months of 2013 compared to 750.7 roubles/MWh in the first 3 months of 2012;
- the effect of operation of new units, including the commissioning on 01.01.2013 of the combined-cycle unit CCGT-450 at the Pravoberezhnaya CHPP onto the wholesale market: revenue from the sale of capacity on contracts for supplied capacity in Q1 of 2013 is 1.6 times higher than the same figures in 2012;
- 16.1% growth in the average price of sales on competitive capacity screening as a result of step-by-step indexation in 2012: from 132.5 roubles/MWh in Q1 of 2012 to 153.9 roubles/MWh in Q1 of 2013.
Revenue from sales of electric energy amounted to 8,735.6 million roubles, which is 17.6% higher than figures for the first three months of 2012. Earnings from sales of electric energy on the day-ahead market increased by 17.6% and increased by 13.1% on the balance market, crucially due to growth in the volume of operations. Revenue from regulated contracts increased by 5% due to the change in the structure of contract obligations.
As a result of commissioning of combined-cycle units, revenue from the sale of capacity increased by 31.6% and reached 3,921.3 million roubles. Revenue from sales of capacity according to contracts for power supply amounted to 2,023.2 million roubles. Revenue from sales of capacity on competitive capacity screening for the first three months of 2012 increased by 13.9% to 1,354.1 million roubles
Because of an increase in tariffs for heating energy in the second half of 2012, revenue from sales of heating energy in Q1 of 2013 increased by 8.7%, amounting to 9,075.5 million roubles. Other sales were 153.8 million roubles.
The cost of production increased by 13.5% to 17,984.8 million roubles. The main effect on changing costs in the results of the first 3 months of 2013 was the increase in depreciation in charges for the new equipment and costs for heating.
Gross profit of JSC TGC-1 for the first 3 months of 2013 amounted to 3,901.4 million roubles, increasing by 31.7%. Net profit over the accounting period of the current year compared to the same figures for 2012 increased by 17.5% and was at the level 2,575.4 million roubles.
Further information on the financial results of JSC TGC-1’s activities according to RAS for Q1 of 2013 can be found on the company website in the section ‘Reports’.