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Guaranteeing suppliers of the Inter RAO Group published RAS financial statements for 2017

Russian power generation companies of Inter RAO Group published the RAS Financial Results for 2017

9 February 2018

* The financial statements are given for the following generation companies: JSC Inter RAO — Electric Power Plants, JSC Nizhnevartovskaya TPP, Bashkir Generation Company LLC, JSC TGC-11, JSC Tomsk Generation (excluding the performance of the heat-network business for 2016).

Key factors that determined the dynamics of operational and financial indicators of Russian generation companies of Inter RAO Group are as follows:

  • Decommissioning of outdated and inefficient generation equipment in Russia with the total installed capacity of 1,271 MW, including decommissioning of 865 MW at Cherepetskaya TPP, 330 MW at Verkhnetagilskaya TPP, 75 MW at Omskaya TPP-3, and 1 MW at power facilities in Bashkiria from January 1, 2017;
  • Commissioning of 1,470 MW of new power generating capacity under the CDA (903 MW at Permskaya TPP, 447 MW at Verkhnetagilskaya TPP and 120 MW at Omskaya TPP-3);
  • Sale of 120 MW (328 Gcal/hour) Kumertau TPP in November 2016;
  • An increase of the installed electric capacity of the existing units by 112.5 MW after carrying out technical works on relabeling (by 30 MW at Urengoyskaya TPP, by 60 MW at Permskaya TPP, by 18 MW at Nizhnevartovskaya TPP, by 4.5 MW at Yuzhnouralskaya TPP);
  • The increase in gas prices since July 1, 2017;
  • Сonsiderable reduction in selling price at DAM in the context of the low-cost generation increase.

Operational and financial results of power generation assets performance:

Indicator Inter RAO — Electric Power Plants Nizhnevartovskaya TPP
2017 Change 2017 Change
Revenue 188.7 7.8% 18.7 5.3%
Cost price 148.0 6.4% 14.1 1.3%
Sales profit 38.8 14.0% 4.0 22.1%
Net Profit 37.5 (9.8%) 3.3 13.3%
Power generation, billion kWh 82.4 4.4% 12.3 (1.5%)
Heat distribution from collectors, million Gcal 3.9 2.1% 0.2 (10.6%)

* Billion rubles unless stated otherwise

Operational and financial results of heat generation assets performance:

Indicator Bashkir Generation Company TGK-11 Tomsk Generation
2017 Change 2017 Change 2017 Change
Revenue 43.3 (2.4%) 18.6 4.8% 6.8 2.6%
Cost price 37.7 0.1% 16.3 3.7% 5.9 2.9%
Sales profit 5.4 (17.0%) 1.8 17.7% 0.6 (1.7%)
Net Profit 2.6 (35.4%) 1.2 33.7% 0.4 18.6%
Power generation, billion kWh 18.5 (6.4%) 6.7 1.3% 1.9 1.3%
Heat distribution from collectors, million Gcal 20.4 (0.4%) 10.5 (4.0%) 4.7 (1.1%)

* Billion rubles unless stated otherwise

For more details about RAS operating results of Russian power generation companies of Inter RAO Group for 2017, please visit their official websites:

Inter RAO — Electric Power Plants Bashkir Generation Company TGK-11 Tomsk Generation
Press Release Press Release Press Release Press Release
Financial results for 2017 Financial results for 2017 Financial results for 2017 Financial results for 2017
Operating results Operating results Operating results Operating results

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PJSC Inter RAO to Relocate Service Divisions to the Ivanovo Region
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financial statements
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IFRS
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Reference

Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The Group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business.

The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market, and Russia's leading electric utility by energy efficiency. Inter RAO Group owns and operates approximately 33.2 GW of installed power generation capacity.

www.interrao.ru