ПАО «ТГК-1» публикует бухгалтерскую отчетность по РСБУ за I полугодие 2018 года
TGC-1 releases financial statements for six months of 2018 developed under Russian Accounting Standards.
Key Indicators of P&L Statements (RUB million) | 6 months of 2017 | 6 months of 2018 |
Revenue | 42,454.0 | 45,630.5 |
Cost of sales | (36,276.9) | (38,725.6) |
Gross profit | 6,177.1 | 6,904.9 |
EBITDA* | 10,601.7 | 11,397.0 |
Net profit | 4,582.7 | 5,851.1 |
* EBITDA = profit before taxation - interest receivable + interest payable - income earned from equity participation in other companies + amortisation.
The Company's revenue for six months of 2018 amounted to RUB 45 billion 630.5 million, which is 7.5% higher than for the same period in 2017. The following factors influenced revenue growth:
- increase in sales on the day-ahead market in Q1 2018 and growth in prices in Q2 2018;
- increase in sales under CSA in Q1 and Q2 2018, and growth in prices under the terms of contracts;
- increase in sales in the free sector of the capacity market;
- increase in heat output in the first quarter of 2018.
Total revenue from electricity sales increased by 13.2% to RUB 16 billion 732.0 million for H1 2018. Revenue from capacity sales amounted to RUB 10 billion 025.3 million, representing growth of 7.1%. Revenue from heat sales increased by 3.2% to RUB 18 billion 754.2 million.
Production costs increased by 6.7% to RUB 38 billion 725.6 million. The main factor causing increase in production costs is growth of fuel expenses due to higher volumes of electricity output and heat supply in Q1 2018.
Gross profit of TGC-1 amounted to RUB 6 billion and 909.4 million, having increased by 11.8%.
Profit before taxation increased by 22.5% to RUB 6 billion 955.9 million including the expense of loan portfolio and, as a result, interest payable. EBITDA, in its turn, increased by 7.5% to RUB 11 billion 397.0 million.
Net profit in the reporting period increased by RUB 5 billion 851.1 million.
The details of TGC-1 financial statements under RAS for six months of 2018 are available on our corporate website in the Reports section.
Reference
TGC-1 is the leading producer and supplier of electricity and heat in the North-West of Russia. TGC-1 comprises 53 electric power plants within four constituent entities of the Russian Federation: St. Petersburg, Republic of Karelia, the Leningrad and Murmansk Oblasts.
The installed electric power capacity of TGC-1 is 6.95 GW, heat capacity — 13.65 thousand Gcal/h. Major Shareholders: Gazprom Energoholding LLC (51.79%) and Fortum Power and Heat Oy (29.45%). The total headcount of the Company and its subsidiaries is about seven thousand employees.