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Russian power generating companies of the Inter RAO Group publish RAS results for 1Q17

* Reports are available for the following power generation subsidiaries: JSC Inter RAO – Electric Power Plants, ZAO Nizhnevartovskaya TPP, Bashkir Generation Company LLC, JSC TGK-11, and JSC Tomsk Generation (net of heating network operations in 2016)

Key factors determining the operating and financial results of Inter RAO Group's Russian power generation subsidiaries:

  • Decommissioning of the obsolete and inefficient generating equipment in the Russian market of 1271 MW total installed capacity, including 865 MW at Cherepetskaya TPP, 330 MW at Verkhnetagilskaya TPP, 75 MW at Omskaya TPP-3, and 1 MW at Bashkir power plants on January 1, 2017;
  • A 90 MW increase in installed capacity following the relabeling of Russian generation equipment in 2H16, including 31 MW and 30 MW respectively at Urengoiskaya and Gusinoozerskaya TPP;
  • Sale of 120 MW (328 Gcal/hour) Kumertau TPP in November 2016;
  • Optimization of generating assets capacity utilization.
  • Commissioning of 120 MW in new generating capacity under the Capacity Delivery Agreement at Omskaya TPP-3;
  • A YoY production increase at Permskaya TPP, where the planned overhaul of the second power unit was held in 1Q16.

Operating and financial results of power generating subsidiaries:

Indicator Inter RAO – Electric Power Plants Nizhnevartovskaya TPP
1Q17 Change, % YoY 1Q17 Change, % YoY
Revenue 47.0 5.4% 5.2 10.9%
Cost of good sold 33.9 1.1% 3.6 3.1%
Sales profit 12.6 19.1% 1.4 42.3%
Net income 17.1 124.5% 1.1 43.4%
Power generation, billion kWh 21.0 10.5% 3.6 6.7%
Heat output from collectors, million Gcal 1.6 0.6% 0.1 2.5%

* Billions of rubles unless indicated otherwise

Operating and financial results of heat production subsidiaries:

Indicator Bashkir Generation Company TGK-11 Tomsk Generation

Change, % YoY 1Q17 Change, % YoY** 1Q17 Change, % YoY

Revenue

12.5 (2.0%) 5.8 2.5% 2.4 6.2%

Operating expenditures

10.2 2.4% 4.2 (3.5%) 1.9 1.4%

Sales profit

2.2 (-18.4%) 1.5 14.1% 0.5 33.6%

Net income

1.3 (22.0%) 1.1 16.9% 0.3 52.6%

Power generation, billion kWh

4.8 (14.9%) 2.0 (3.9%) 0.7 0.6%

Heat output from collectors, million Gcal

6.0 3.8% 3.3 (4.6%) 1.8 (0.5%)

* Billions of rubles unless indicated otherwise

For more details on the RAS financial results of the power generation and heat production subsidiaries of Inter RAO Group for 1Q17, please visit their official websites:

Inter RAO – Electric Power Plants & Nizhnevartovskaya TPP Bashkir Generation Company TGK-11 Tomsk Generation
Press-release in Russian Press-release in Russian Press-release in Russian Press-release in Russian
1Q17 Report 1Q17 Report 1Q17 Report 1Q17 Report
Operating results in Russian Operating results in Russian Operating results in Russian Operating results in Russian

Next material:

Inter RAO Group announces operating results for the first quarter of 2017
Consolidated
financial statements
prepared according to
IFRS
for 1Q 2017
View report

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 32 GW of installed power generation capacity.

www.interrao.ru