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2017-10-27 19:05:00

NOVATEK'S PROFIT ₽112 BLN

ПРИБЫЛЬ НОВАТЭК 112 МЛРД. ₽

NOVATEK - PAO NOVATEK  released its consolidated interim condensed financial statements as of and for the three and nine months ended 30 September 2017 prepared in accordance with International Financial Reporting Standards ("IFRS").

IFRS Financial Highlights 
(in millions of Russian roubles except as stated)
3Q17
3Q16
 
9M17
9M16
129,970
125,767 
Oil and gas sales
412,001 
390,441 
733
716 
Other revenues
2,160 
2,781 
130,703
126,483 
Total revenues
414,161 
393,222 
(94,385)
(93,458)
Operating expenses
(297,782)
(280,636)
Net gain on disposal of
interests in joint ventures
73,072 
(222)
707 
Other operating income (loss)
403
(53)
36,096 
33,732 
Profit from operations
116,782 
185,605 
45,094 
43,833 
Normalized EBITDA of subsidiaries*
142,707 
140,932 
59,270 
57,726 
Normalized EBITDA including share in EBITDA of joint ventures*
183,522 
179,369 
5,061
1,101 
Finance income (expense)
9,873 
2,091 
6,875 
9,401 
Share of profit (loss) of joint ventures, 
net of income tax
16,733 
52,405 
48,032 
44,234 
Profit before income tax
143,388 
240,101 
37,737 
36,494 
Profit attributable to
shareholders of PAO NOVATEK
111,998 
198,345 
34,905 
31,236 
Normalized profit attributable to
shareholders of PAO NOVATEK **
113,022 
97,745 
11.57 
10.35 
Normalized basic and diluted earnings per share** (in Russian roubles)
37.47 
32.38 
* Excluding the effect from disposal of interests in joint ventures.

** Excluding the effects from the disposal of interests in joint ventures, as well as foreign exchange gains (losses).

In the third quarter of 2017, our total revenues amounted to RR 130.7 billion and Normalized EBITDA, including our share in EBITDA of joint ventures, totalled RR 59.3 billion, representing increases of 3.3% and 2.7%, respectively, as compared to the corresponding period in 2016. In the nine months 2017, our total revenues amounted to RR 414.2 billion and Normalized EBITDA, including our share in EBITDA of joint ventures, totalled RR 183.5 billion, representing increases of 5.3% and 2.3%, respectively, as compared to the corresponding period in 2016. The increases in total revenues and Normalized EBITDA in both periods were largely due to an increase in liquids and natural gas sales prices.

Profit attributable to shareholders of PAO NOVATEK increased to RR 37.7 billion (RR 12.51 per share), or by 3.4%, in the third quarter of 2017 and decreased to RR 112.0 billion (RR 37.13 per share), or by 43.5%, in the nine months 2017 as compared to the corresponding periods of 2016. In 2016, our profit was significantly impacted by the closing in the first quarter 2016 of a transaction for the sale of a 9.9% equity stake in Yamal LNG, as well as by the foreign exchange differences (including at the joint ventures level). Excluding these effects, Normalized profit attributable to shareholders of PAO NOVATEK totalled RR 34.9 billion (RR 11.57 per share) in the third quarter 2017 and RR 113.0 billion (RR 37.47 per share) in the nine months 2017, representing an increase of 11.7% and 15.6%, respectively, as compared to the corresponding periods of 2016.

In the third quarter 2017, our natural gas sales volumes totalled 13.9 billion cubic meters (bcm), representing a decrease of 3.9% as compared to the corresponding period in 2016, and were in line with the planned contracted delivery schedule. Overall, in the nine months 2017, our natural gas sales volumes totalled 47.0 bcm representing an increase of 1.6% as compared to the corresponding period in 2016 due to the increased demand for natural gas from end-customers in the first half of 2017 resulted, among other factors, from weather conditions. As at 30 September 2017, the amount of natural gas recorded as inventory totalled 1.4 bcm as compared to 2.5 bcm at the end of the third quarter of 2016.

In the third quarter 2017, liquid hydrocarbons sales volumes amounted to 3.7 million tons, representing an 11.1% decrease in volumes sold as compared to the third quarter 2016. In the nine months 2017, liquid hydrocarbon sales volumes totalled 11.9 million tons, representing an 8.2% decrease as compared to the nine months 2016. The decrease in both periods was due to a natural decline in gas condensate production volumes at mature fields of our subsidiaries and joint ventures, as well as an increase in liquids inventories as compared to a decrease in the corresponding periods in 2016. As at 30 September 2017, we recorded 969 mt of liquid hydrocarbons in transit or storage and recognized as inventory as compared to 626 mt at 30 September 2016.

-----

Earlier:

НОВАТЭК МЕНЬШЕ НА 7,5%
2017, October, 9, 21:40:00

NOVATEK DOWN 7.5%

NOVATEK’s marketable hydrocarbons production totaled 374.7 million barrels of oil equivalent (boe), including 46.03 billion cubic meters (bcm) of natural gas and 8,806 thousand tons of liquids (gas condensate and crude oil), resulting in a decrease in total hydrocarbons production by 30.4 million boe, or by 7.5%, as compared with the nine months 2016.

 
 НОВАТЭК: РОСТ ПРИБЫЛИ НА 246%
2017, February, 25, 12:05:00

NOVATEK PROFIT UP 246%

Profit attributable to NOVATEK shareholders increased by more than three-fold to RR 257.8 billion (RR 85.41 per share), as compared to RR 74.4 billion (RR 24.63 per share) in 2015. The amount of profit and its dynamics were significantly impacted by the foreign exchange effect (including at the joint ventures level), as well as the effect of the disposals of interests in joint ventures.

 CHINEESE MONEY FOR RUSSIA
2016, June, 16, 18:15:00

CHINEESE MONEY FOR RUSSIA

Among the major shareholders of Yamal LNG are local gas producer Novatek (50.1%), Total (20%) and CNPC (20%). The Silk Road Fund has become the second Chinese strategic investor in the project, after China National Petroleum Corp. (CNPC) provided $5 B of investment for Yamal LNG. Under the terms of the agreement, the Silk Road Fund will provide approximately $800 MM for the implementation of the project over the next several years.

 

 NOVATEK NEEDS $12 BLN
2016, April, 26, 19:30:00

NOVATEK NEEDS $12 BLN

Russia's largest independent gas producer Novatek plans to raise further $12bn in external financing for the Yamal LNG project, said Novatek CEO Leonid Mikhelson.

 

 НОВАТЭК ВЫРОС ВДВОЕ
2016, March, 3, 19:00:00

NOVATEK INCREASED TWOFOLD

Profit attributable to NOVATEK shareholders increased twofold to RR 74.4 billion, as compared to RR 37.3 billion in 2014. The amount of profit and its dynamics were significantly impacted by the foreign exchange effect and the change in fair value of non-commodity financial instruments (including at the joint ventures level), as well as the effect of disposal of interests in joint ventures. Net of these effects, our adjusted profit attributable to NOVATEK shareholders in 2015 and 2014 totaled RR 135.0 billion and RR 104.8 billion respectively, representing a year-on-year increase of 28.9%.

 RUSSIA & CHINA COOPERATION
2015, September, 4, 19:00:00

RUSSIA & CHINA COOPERATION

Russia and China continue walking hand in hand toward stronger energy cooperation, with several Russian companies - Gazprom, Rosneft and Novatek - signing documents with Chinese partners over the last hours.

 

 NOVATEK & SHELL CONTRACT
2015, June, 9, 19:20:00

NOVATEK & SHELL CONTRACT

OAO Novatek announced Thursday that Novatek Gas & Power, a wholly owned trading subsidiary of Novatek, has signed a long-term contract with Shell International Trading Middle East for the supply of LNG from the Yamal LNG project.

 

 

 

Tags: НОВАТЭК, NOVATEK

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