JSC TGC-1 announced its 2015 financial statements under the Russian Accounting Standards (RAS).

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

Company’s 2015 revenue totaled RUB 65,183.6 mln, remained flat versus 2014. The total revenue of electricity sales increased by 1 per cent up to RUB 27,238.6 mln at year-end 2015.

Capacity sales amounted to the revenue of RUB 11,427.2 mln, a 13.5 per cent drop compared to the same period 2014. The decline was due to a fall in capacity sales through competitive capacity auction and demand sluggishness under regulated contracts.

The revenue of heat sales increased by 6.8 per cent up to RUB 26,117.6 mln at year-end 2015.

The cost of production for 2015 remained flat versus last year.

The gross profit of JSC TGC-1 for 2015 amounted to RUB 5,182.7 mln, decreased by 9.5 per cent. The EBITDA indicator increased by 2.7 per cent up to RUB 13,213.9 mln.

The net profit totaled RUB 2,676.1 mln at year-end 2015, a 23 per cent drop compared to the same period last year. The decline of net profit was caused by an increase of interest payment due to the interest rate growth on both short-term and long-term loans, and a higher tax base for corporate income tax in 2015.

To find out more about the financial performance of JSC TGC-1 in the 2015, please visit the Reportssection at the corporate website.