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2015-08-03 17:35:00

NOVATEK UP 27%

НОВАТЭК ВЫРОС НА 27%

FRS Financial Highlights
(in millions of Russian roubles)

2Q 2015

2Q 2014

 

1H 2015

1H 2014

111,574

87,881 

Oil and gas sales

224,798

176,414 

670

489

Other revenues

1,188

632

112 , 244

88, 370  

Total revenues

225 , 986

177 , 046

(79 , 541)

(55, 670 )

Operating expenses

(153 , 437)

(109, 545 )

-

-

Net gain on disposal of interests in joint ventures

-

2,623

(158)

1,791

Other operating income (loss)

(357)

1,750

32 , 545

34,491

Profit from operations

72 , 192

71 , 874

37 , 968

36 , 89 5

Normalized EBITDA of subsidiaries *

83 , 002

75 , 86 2

50 , 162

40, 32 3

Normalized EBITDA including s hare in EBITDA of joint ventures *

105 , 324

83 , 30 2

2,130

808

Finance income (expense)

(5,116)

(3,512)

13,004

3,768

Share of profit of joint ventures, net of income tax

17,278

2,046

47,679

39,067

Profit before income tax

84,354

70,408

41 , 920

31 , 950

Normalized p rofit attributable to OAO NOVATEK shareholders*

72 , 995

5 5,00 6

13.88

10.58

Basic and diluted earnings per share(in Russian roubles)

24.17

18.88

13.88

10.58

Normalized basic and diluted earnings per share* (in Russian roubles)

24.17

18.19

* Excluding the effect from disposal of interests in joint ventures in 1Q 2014.

In the second quarter and first half 2015, our total revenues increased by 27.0% and 27.6%, respectively, compared to the corresponding periods of 2014. The growth was mainly due to an increase in liquids sales volumes and net prices in Russian rouble terms. Average net prices of liquid hydrocarbons were positively impacted by the substantial increase in sales volumes of high value-added petroleum products from the Ust-Luga Complex, the decrease in export duty rates and rouble devaluation against the US dollar, which more than offset the decline in international hydrocarbon prices.

The Company's Normalized EBITDA, inclusive of joint ventures, amounted to RR 50.2 billion in the second quarter 2015 and RR 105.3 billion in the first half 2015, representing an increase of 24.4% and 26.4%, 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 second quarter 2015, the profit attributable to NOVATEK shareholders increased by 31.2% to RR 41.9 billion or RR 13.88 per share. In the first half 2015, the profit attributable to NOVATEK shareholders amounted to RR 73.0 billion (RR 24.17 per share), representing an increase of 32.7% as compared to the profit in the first half 2014 adjusted for the effect on disposal of interests in joint ventures. In the first half 2015, our free cash flow generation increased to RR 40.4 billion, or by 2.3 times as compared to the corresponding period of 2014.

Our natural gas sales volumes totalled 14.5 billion cubic meters (bcm) in the second quarter 2015 and 30.5 bcm in the first half 2015, representing a decrease of 8.5% as compared to the first half 2014. The decrease was mainly due to substantial withdrawals of natural gas from the underground storages in the first half 2014 due to colder weather as compared to the first half 2015.

In the first half 2015, the total amount of natural gas recorded as inventory increased by 547 mmcm to 1,596 mmcm as compared to a decrease of 1,675 mmcm in the first half 2014.

In the second quarter 2015, liquid hydrocarbon sales volumes amounted to 2,911 mt, representing a 72.6% increase in volumes sold as compared to the second quarter 2014. In the first half 2015, liquid hydrocarbon sales volumes amounted to 5,745 mt, representing a 77.8% increase as compared to the first half 2014.

Higher volumes of gas condensate purchased from our joint ventures due to production growth at the SeverEnergia fields and launch of the Termokarstovoye field, as well as increase of crude oil production by subsidiaries positively impacted our sales during the period. As at 30 June 2015, 811 mt of liquid hydrocarbons were in transit or storage and recognized as inventory compared to 739 mt as at 31 December 2014.

novatek.ru

More: 

NOVATEK & SHELL CONTRACT  

NOVATEK CAN $3.9 BLN 

НОВАТЭК: + 52% 

NOVATEK & SIBUR: ON COMPLETION 

NOVATEK & CNPC: YAMAL LNG 

NOVATEK UPDOWN 

NOVATEK: FROM RUSSIA WITH LOVE 

NOVATEK ANNOUNCES RESULTS FOR 2013

 

 

 



 

 

 

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