PJSC “RussNeft” publishes its M6 2019 financial results under IFRS
PJSC “RussNeft” (“RussNeft” or “Company”) (MOEX: RNFT) publishes unaudited interim consolidated financial statements for M6 2019 prepared in accordance with International Financial Reporting Standards (IFRS).
Highlights:
· EBITDA grew 3% to RUB 25.5 billion.
· Oil production was 3.8[1] million tonnes.
· CAPEX decreased (-11%) to RUB 12.7[2] billion with stable production.
· Net debt/EBITDA ratio was 1.7.
Key performance indicators
Financials
|
RUB Billion |
6M 2019 |
6M 2018 |
Change |
|
Revenue |
100.4 |
88.3 |
14% |
|
EBITDA |
25.5 |
24.8 |
3% |
|
Profit attributable to shareholders of the Parent company |
11.5 |
1.8 |
539% |
|
Adjusted profit[3] |
9.2 |
9.8 |
-6% |
|
Net debt |
84.7 |
95.9[4] |
-12% |
|
|
|
|
|
In the H1 2019 RussNeft demonstrated significant revenue growth (+ RUB 12 bln) on the YoY basis, which is mainly associated with increase in trading operations and ruble-denominated prices.
The profit attributable to the shareholders of the Parent company significantly exceeded the H1 2018 indicator, having reached RUB 11.5 billion against RUB 1.8 billio
PJSC “RussNeft” ranks among the top-10 largest oil companies by crude oil production in Russia.
The Company possesses a well-balanced portfolio of assets located in the key Russian oil and gas provinces (West Siberia, Volga-Urals and Central Siberia) as well as in Azerbaijan.
The headcount of the Company is around 7,000 employees.