TGC-1 Group Profit for 2018FY Increased by 31.5%

 

TGC-1 releases audited consolidated Financial Statements for the 12 months period, ended 31 December, 2018 prepared in accordance with International Financial Reporting Standards (IFRS).

 

Consolidated TGC-1 Group revenue for 2018FY increased by 5.5% year-on-year, up to RUB 92,455 mln. The revenue dynamics were influenced by growing revenue from electricity and capacity, as well as from heat supply.

 

Group’s operating expenses grew by 4.7% year-on-year, up to RUB 77,390 mln. Variable costs grew by 7.9% up to RUB 48,813 mln, mainly on the account of increased fuel costs on the back of growing production. Variable costs grew by 1.9%, to RUB 20,600 mln.

 

Hence, Group’s operating profit for 2018FY increased by 8.0% year-on-year totaling RUB 12,948 mln. EBITDA amounted to RUB 20,926 mln, up by 2.4% year-on-year. 

 

Profit grew by 31.5% year-on-year, up to RUB 10,421 mln.