IFRS net loss of OJSC TGC-14 for 2012 dropped 3.44-fold to RUB 668.486 million from RUB 2.302 billion the year before, the company reported.
Revenue decreased by 7.3% to RUB 8.587 billion from RUB 9.264 billion, operating loss 4.92 times to RUB 543.488 million from RUB 2.676 billion, loss before tax 3.31-fold to RUB 855.495 million from RUB 2.834 billion in 2011.
OJSC Territorial Generating Company no. 14 (TGC-14, tax number: 7534018889) was established on December 7, 2004. In 2006, the company was established as a fully functional generating company. TGC-14 provides heat power to consumers in Transbaikal Krai and Republic of Buryatia (constituents of the Russian Federation's Siberian Federal District).
TGC-14 operates 7 power stations with the installed electrical capacity of 633 MW and thermal capacity of 2,707 Gcal. Energopromsbyt LLC, the consortium of OJSC Russian Railways and ESN Group, holds 76.92% of the authorized capital of TGC-14.
RAS net profit of OJSC TGC-14 for H1 2013 was RUB 111.838 million against a loss of RUB 3.246 billion the year before. Revenue increased 3.82-fold to RUB 5.323 billion from RUB 1.393 billion, sales profit was RUB 199.155 million against a loss of RUB 3.098 billion for the same period in 2012, pre-tax profit was RUB 116.413 million against a loss of RUB 3.246 billion.