MOSCOW, May 28. /TASS/. T Plus forecasts a net loss under the International Financial Reporting Standards (IFRS) by the end of 2025, the company’s CEO Pavel Snikkars told reporters.
According to him, last year the costs in generating assets exceeded revenues by 2 bln rubles ($25.14 mln), but the company nevertheless managed to secure a profit of 7 bln rubles ($88 mln). “In 2025, due to high interest rates, a net loss under IFRS is anticipated. We are working to mitigate this. The entire cogeneration sector is facing challenging times,” Snikkars added.
He noted that in the Q1 of 2025, T Plus reduced its useful heat output due to warm weather, while electricity generation also decreased. In this context, the company revised its revenue plan for 2025. “Therefore, the budget we have drawn up reflects a revenue shortfall, but we hope that by the end of the year, the results might stabilize,” explained the CEO.
In Snikkars’ view, the energy sector could benefit from extending the deadlines for fulfilling investment obligations. “This will not affect our loss for 2025, as some of these obligations were not included in this year’s budget. However, it could help maintain financial performance in 2026,” he said.
The core business areas of T Plus include generation, energy trading, retail, and energy services. The company provides energy supplies across 16 Russian regions. Its customer base comprises over 14 mln individuals and more than 160,000 legal entities.
The group manages 60 power plants, over 400 boiler houses, and more than 18,000 km of heat networks. The installed electrical capacity of the group’s energy assets reaches 15.5 GW, while the thermal capacity amounts to 55,000 Gcal/h.
