T Plus has 4.6 bln rubles in net profit to IFRS in H1 against 3.5 bln last year
MOSCOW. Sept 1 (Interfax) - T Plus had a net profit of 4.6 billion rubles to IFRS in H1, 2015 against 3.5 billion rubles last year, the company said in a report.
The power assets of Viktor Vekselberg's Renova Group were consolidated on the basis of the company, which last year had the name JSC Volga TGK. The consolidation was completed on December 1, 2014, so, the comparison of figures for operations in 2015 against those in 2014 is not correct.
Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) was 20.8 billion rubles in H1, in January-June 2014 the figure for the unconsolidated company was 7.2 billion rubles.
The company's revenue was 157 billion rubles against 41.7 billion rubles, operating expenditures reached 146.2 billion rubles against 37.3 billion rubles. Pretax profit was 5.1 billion rubles against 3.95 billion rubles a year earlier.
Long-term borrowings and loans at the end of June 2015 reached 67.8 billion rubles against 57 billion rubles at the end of 2014. Short-term loans and borrowings at the end of the half amounted to 81.8 billion rubles against 96.2 billion rubles at the end of 2014.
T Plus is the only power company, which includes generating, repair and trading assets, including RKS Holding and a stake in Gazeks. So, Renova Group is creating a single universal power holding.
