Following the results of 2018, Gazprom Energoholding LLC expects an increase in total net profit of the Group companies, according to RAS, by 17 %
Following the results of 2018, Gazprom Energoholding LLC expects an increase in total net profit of the Group companies, according to RAS, by 17 %
February 18, 2019, 12:00
Following the results of 2018, Gazprom Energoholding LLC expects the net sales of its main production companies (PJSC Mosenergo, PJSC MOEК, PJSC TGК-1 (including PJSC Murmansk Thermal Power Plant) and PJSC OGК-2), under the Russian Accounting Standards (RAS), in the amount of 585.3 billion roubles, which is 4.5 % more than the same indicator of the previous period.
Total EBITDA is estimated in the amount of 114.1 billion roubles (+7.9 %).
The total net profit is predicted in the amount of 53.2 billion roubles (+17.1 %).
The production volume of electric energy was 146.5 billion KWt/h (2.9 %), heat supply from pipe headers — 120.1 million Gcal (+2.9 %).
Expected indicators for 2018 (RAS)
| Indicator | Actual 2017 | Mosenergo | МОEK | TGC-1 | OGC-2 | Total 2018 | Gain for the year | |
| TGC-1 | Murmansk TPP | |||||||
| Net sales, bln rbl. | 559.9 | 199.0 | 152.1 | 87.1 | 6.2 | 140.9 | 585.3 | +4.5% |
| EBITDA, bln rbl. | 105.7 | 42.4 | 26.3 | 17.4 | 0.4 | 27.6 | 114.1 | +7.9% |
| Net profit, bln rbl. | 45.4 | 23.8 | 11.2 | 7.1 | 0.006 | 11.1 | 53.2 | +17.1% |
| Production of electric power, bln KWt/h | 150.8 | 58.3 | — | 29.3 | 0.02 | 58.9 | 146.5 | —2.9% |
| Heat supply from pipe headers, million Gcal | 116.7 | 82.3 | 5.9 | 22.8 | 2.1 | 7.0 | 120.1 | +2.9% |
The achieved results are caused in many respects by the implemented measures aimed at increase of efficiency through decrease of operational expenses, including optimization of work of «old» facilities. In PJSC OGK-2, the share of power units, which were put into operation under Power Supply Agreements, has increased from 16.4 % in 2017 to 23.4 % in 2018 in the volume of electric power production, and in PJSC TGK-1 —- from 25.4 % to 28.3 %. The deterrent factor for PJSC Mosenergo was termination of payments under the Power Supply Agreement since July 1, 2018 for combined cycle gas turbine unit-425 at CCPP-21 and combined cycle gas turbine unit-450 at CCPP-27. The indicators of PJSC MOEK mainly reflect non-monetary operations, in particular, connected with validity of agreements on indemnification of losses, which provide restoration of heat supply networks of PJSC MOEK by third parties, liquidated by them during implementation of city projects (construction of lines of underground lines, transportation interchange hubs, road interchanges, etc.).
Background
Gazprom Energoholding LLC (a wholly owned subsidiary of PJSC Gazprom) was created within the limits of implementation of the Strategy of PJSC Gazprom in electric power industry as a vertically integrated company. Gazprom Energoholding operates in the field of activities in investment, running the subsidiaries, power industry enterprises, by means of performance of functions of the unified corporate centre of electric power sector of Gazprom Group.
Currently, the main quantity of heat energy produced by Mosenergo is sold to consumers by MOEK, which is a unified heat supply company in Moscow in the areas of activity of MosenergoTPP, heat sources of MOEK and other heat generation facilities, except for small local areas of heat supply from isolated heat sources.
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