Integration Is the Factor of Stability and Investment Appeal of TGC-4
OREANDA-NEWS. September 20, 2007 The year of ОАО TGC-4 work as the large inter-regional united operational Company has proved the propriety of chosen strategy and principle positions of its further development.
During this period TGC-4 has provided a reliable power supply of the customers. The power plants of TGC-4 generated 7, 6 billion kWh of electric power for 8 months of, 17, 8 million of thermal energy were supplied to the customers. As a result of the first half-year all key performance measurements of the Company determined by Board of directors of TGC-4 were executed. Financial performance of the Company is stable: the actual factor of autonomy has made 0, 66, profitability of sales - 7, 4 %, profitability of assets - 3, 2 %. The net profit of TGC-4 has made 535, 4 million rubles in first half-year of 2007.
Realizations of the scale investment program on renovation and modernization of the power plants has been started according to TGC-4 strategy of development which is necessary in conditions of significant moral and physical deterioration of the operating equipment. The volume of investments till 2010 will make more than 52 billion rubles; it will be putted into operation about 1264 MW of new generation capacities.
The financial model of investment program realization is generated in the Company. TGC-4 has issued successfully the bond issue on 5 million rubles. Demand lines of credit has been opened in the Sbarbank and Gazprombank in amount of 6, 5 billion rubles. Shareholders of the Company took the decision on increasing in the TGC-4 authorized capital through the placement of additional shares. Borrowed funds will be directed on financing of industrial and economic activity of TGC-4 and the investment program realization.
The work strategy of TGC-4 in the wholesale market has allowed the company to change operatively a mode and composition of the equipment; to increase volumes of realization of the electric power under the unregulated prices. Economic effect of TGC-4, s work in new model of the wholesale market of the electric power has made more than 400 million rubles.
The relevance of TGC-4 shares at stock exchanges is the factor of investment appeal of the Company. The factor of TGC-4 capitalization has grown up 2-fold for last half-year and makes 38, 2 billion rubles as of June 30, 2007.
The extent of thermal networks has increased in comparison with September, 2006 for 44 % and makes today 5,2 thousand km. Expansion of the thermal energy markets follows at the expense of rent of municipal boiler houses and already existing thermal networks, and also at the expense of connection of new buildings to thermal sources of TGC-4.
Realization of the Company’s plans is promoted by the constructive dialogue with power structures. Agreements between regions administrations and ОАО TGC-4 on development of a power complex of regions have been signed in the Kaluga, Kursk, Ryazan, Oryol, Belgorod and Tula regions.
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