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2016-04-28 19:50:00

NOVATEK PROFIT UP 273%

НОВАТЭК: РОСТ ПРИБЫЛИ НА 273%

 

Moscow, 27 April 2016. OAO NOVATEK today released its consolidated interim condensed financial statements as of and for the three months ended 31 March 2016 prepared in accordance with International Financial Reporting Standards ("IFRS").

 

IFRS Financial Highlights 
(in millions of Russian roubles)
 
  1Q 2016 1Q 2015
Oil and gas sales
138,211
113,224
Other revenues
1,140
518
Total revenues
139,351
113,742
Operating expenses
(97,159)
(73,896)
Net gain on disposal of interests in joint ventures
73,072
-
Other operating income (loss)
971
(199)
Profit from operations
116,235
39,647
Normalized EBITDA of subsidiaries*
50,823
44,704
Normalized EBITDA including share in EBITDA of joint ventures*
62,136
54,832
Finance income (expense)
916
(7,246)
Share of profit of joint ventures, 
net of income tax
23,381
4,274
Profit before income tax
140,532
36,675
Profit attributable
to OAO NOVATEK shareholders
115,917
31,075
Normalized profit attributable to OAO NOVATEK shareholders*
58,240
31,075
Normalized earnings per share* (in Russian roubles)
19.29
10.29
* Excluding the effect from disposal of interests in joint ventures.

 

In the first quarter 2016, our total revenues increased to RR 139.4 billion, or by 22.5% compared to the first quarter 2015 largely due to an increase in liquids sales volumes and the combined growth in natural gas sales prices and volumes. Decrease in net average sales prices in rouble terms for LPG and certain types of petroleum products had a negative impact on the dynamics of our revenues.

The Company's Normalized EBITDA, including our respective share in the EBITDA of joint ventures, amounted to RR 62.1 billion, representing a 13.3% increase compared to the EBITDA for the first quarter 2015. Profit attributable to NOVATEK shareholders increased by 3.7 times to RR 115.9 billion, as compared to RR 31.1 billion in the first quarter 2015. Profit for the first quarter 2016 was positively impacted by the closing of a transaction for the sale of a 9.9% equity stake in Yamal LNG to the Silk Road Fund of China. Excluding profit from this transaction, normalized profit attributable to NOVATEK shareholders totaled RR 58.2 billion, representing an 87.4% increase as compared to the prior reporting period. Our profit dynamics was also positively impacted by the non-cash items such as foreign exchange effect and the change in fair value of non-commodity financial instruments.

Our free cash flow increased by 49.5% to RR 45.4 billion as a result of operating cash flow growth by 37.0% and a decrease in cash used for capital expenditures.

novatek.ru

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More: 

NOVATEK NEEDS $12 BLN 

YAMAL LNG CREDIT LINE: EUR 3.6 BLN 

RUSSIAN LNG AMBITIONS 

RUSSIAN - CHINESE TRANSACTION 

NOVATEK INCREASED TWOFOLD

 

 

Tags: RUSSIA, РОССИЯ, NOVATEK, НОВАТЭК, GAS, ГАЗ, YAMAL, LNG, ЯМАЛ, СПГ

Chronicle:

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GAZPROM NEFT NET PROFIT UP TO 49.6%

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НОВАТЭК: РОСТ ПРИБЫЛИ НА 273%
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OIL PRICE: NEAR $72

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