NOVATEK PROFIT 60.6 BLN RUR
OAO NOVATEK ("NOVATEK" or the "Company") today released its consolidated interim condensed financial statements as of and for the three and nine months ended 30 September 2015 prepared in accordance with International Financial Reporting Standards ("IFRS").
In the third quarter and first nine months 2015, our total revenues increased by 38.5% and 31.2%, respectively, compared to the corresponding periods of 2014, which was mainly due to an increase in liquids sales volumes and prices for natural gas sales.
The Company's Normalized EBITDA, inclusive of share in EBITDA of joint ventures, amounted to RR 52.6 billion in the third quarter 2015 and RR 157.9 billion in the first nine months 2015, representing an increase of 35.7% and 29.4%, respectively, as compared to the corresponding periods of 2014. Our Normalized EBITDA was positively impacted by the higher share of liquid product sold in our overall sales volumes mix.
In the first nine months 2015, Normalized Profit attributable to NOVATEK shareholders, totaled RR 60.6 billion (including a loss of RR 13.4 billion in the third quarter 2015).
Our profit dynamics were negatively impacted by the devaluation of the Russian rouble against the US dollar and Euro, which resulted in non-cash foreign exchange losses due to revaluation of the foreign currency debt of NOVATEK and our joint ventures, mainly Yamal LNG. The revaluation does not negatively impact the profitability and financial performance of our business given the currency structure of NOVATEK and our joint ventures cash flows. Net of the foreign exchange effects, our Normalized Profit attributable to NOVATEK shareholders in the third quarter and first nine months 2015 increased by 31.5% and 20.6% respectively compared to the corresponding periods of 2014.
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IEA - For the third consecutive year, global energy investment declined, to USD 1.8 trillion (United States dollars) in 2017 – a fall of 2% in real terms. The power generation sector accounted for most of this decline, due to fewer additions of coal, hydro and nuclear power capacity, which more than offset increased investment in solar photovoltaics.
EIA - Crude oil production from the major US onshore regions is forecast to increase 143,000 b/d month-over-month in July from 7,327 to 7,470 thousand barrels/day , gas production to increase 1,066 million cubic feet/day from 69,466 to 70,532 million cubic feet/day .
U.S. FRB - Industrial production rose 0.6 percent in June after declining 0.5 percent in May. For the second quarter as a whole, industrial production advanced at an annual rate of 6.0 percent, its third consecutive quarterly increase. Manufacturing output moved up 0.8 percent in June.
U.S. DT - The sum total in May of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $69.9 billion. Of this, net foreign private inflows were $58.8 billion, and net foreign official inflows were $11.1 billion.