OREANDA-NEWS. October 11, 2012. The meeting between financial analysts of investment companies “Metropol” and “BinFinamGroup” and management TGC-2 took place. The questions about TGC-2 development strategy and its operating activity were discussed on meeting.

The arrangements of costs shortening, credits optimization and improvement of financial condition of Company were done during current year. The retained earnings of TGC-2 for first quarter 2012 was 943,236 mln. rubles, whilst for the same period of last year – 515,028 mln. rubles.

The Company continue renovation of generate equipment, investment program realization, carries out the obligations to banks in time. We expect to take positive result by the end of a fiscal year, - as Deputy General director JSC “TGC-2” for economics and finance Larisa Musatova has marked.

There are positive trends in TGC-2 activity, as the analytics hsve marked. In particular, successful increase duration of liabilities, readiness of some big banks to give if it needs new credit lines, to earn additional profits at the level EBIDTA of 2012-2013 and breakeven result of 2012.

TGC-2 is a leading heat and power company in the Northern and Northwest parts of Russia. The Company activities cover heat and power production as well as sale of heat (steam and hot water) to consumers. TGC-2 comprises generating capacities of 6 regions - Arkhangelsk, Vologda, Kostroma, Novgorod, Tver and Yaroslavl. TGC-2 operates 15 heat CHPPs, 11 boiler-houses, 5 enterprises of heat pipelines. The aggregate installed electric capacity of TGC-2 enterprises is 2532,5 MW, the aggregate installed thermal capacity constitutes 11658,833 Gcal/h. General director is Vladlen Alexandrovich.