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TGC-1

May 16, 2016

TGC-1 releases consolidated Financial Statements for 1Q 2016

JSC TGC-1 releases unaudited interim consolidated Financial Statements for the 3 months period, ended March 31, 2016 prepared in accordance with International Financial Reporting Standards (IFRS).                                 

Consolidated Statement of Comprehensive Income Highlights (mln RUB)

3 2016

3 2015

Revenue

25,238

22,035

Operating Expenses*

(19,310)

(17,458)

Operating Profit

5,929

4,577

EBITDA**

7,683

6,365

Profit for the Period

4,386

3,295

* Including Government subsidies and Other operating income.

** EBITDA is calculated as Operating profit + Depreciation of PP&E + Amortization of intangible assets and investment property.

Consolidated TGC-1 Group revenue for 3M 2016 increased by 14.5% year-on-year, up to RUB 25,238 mln.

Operating expenses for 1Q 2016 grew by 10.6% year-on-year, up to RUB 19,310 mln. Variable costs increased by 10.6%, up to RUB 13,793 mln mostly on the account of higher fuel costs, combined with growing heat output. Fixed costs increased by 20.4%, up to RUB 3,960 mln, mainly due to receivables impairment provision and growing loss on PP&E disposal.

TGC-1 operating profit grew by 29.5% year-on-year totaling RUB 5,929 mln. EBITDA amounted to RUB 7,683 mln, growing by 20.7% year-on-year.

Profit for 3M 2016 increased by 33.1% year-on-year, up to RUB 4,386 mln.

Full JSC TGC-1 3M 2016 results under IFRS are available at the corporate website in the Reports section.

 

 

 

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