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Gazprom profit increased 71% to $5.9 billion

Staff writer ▼ | August 11, 2015
PJSC Gazprom issued its unaudited consolidated interim condensed financial information for the three months ended March 31, 2015. Profit attributable to the owners was RUB 382,112 million.
Gazprom
PJSC Gazprom   Net debt balance decreased 12%
Total sales net of excise tax, VAT and customs duties increased by RUB 89,516 million, or 6%, to RUB 1,648,253 million in the three months ended March 31, 2015 compared to the three months ended March 31, 2014.

Profit attributable to the owners of PJSC Gazprom for the three months ended March 31, 2015 totaled RUB 382,112 million which is RUB 159,105 million, or 71%, higher compared to the three months ended March 31, 2014.

Net debt balance decreased by RUB 202,367 million, or 12%, from RUB 1,650,633 million as of December 31, 2014 to RUB 1,448,266 million as of March 31, 2015. This decrease resulted from the increase in cash and cash equivalents.

Net sales of gas increased by RUB 91,657 million, or 10%, to RUB 1,001,609 million in the three months ended March 31, 2015 compared to the three months ended March 31, 2014.

In the three months ended March 31, 2015 net sales of gas to Europe and other countries increased by RUB 58,614 million, or 12%, to RUB 542,993 million compared to the three months ended March 31, 2014.

This is primarily explained by the increase in average prices in RUB terms (including excise tax and customs duties) by 37%.

The change is primarily due to increase in exchange rate, which is partially compensated by the decrease in volumes of gas sold by 16%, or 7.6 bcm.

Net sales of gas to FSU countries increased by RUB 28,879 million, or 23%, to RUB 155,638 million in the three months ended March 31, 2015 compared to the three months ended March 31, 2014.

This is primarily explained by the increase in average prices in RUB terms (including customs duties) by 58%.The change is primarily due to increase in exchange rate, which is partially compensated by the decrease in volumes of gas sold by 21%, or 3.4 bcm.

Net sales of gas in the Russian Federation decreased by RUB 12,261 million, or 4%, to RUB 286,553 million in the three months ended March 31, 2015 compared to the three months ended March 31, 2014. This is primarily explained by the decrease in volumes of gas sold by 5%, or 4.2 bcm.

Operating expenses increased by RUB 81,836 million, or 8%, to RUB 1,171,585 million in the three months ended March 31, 2015 compared to the three months ended March 31, 2014.


 

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