OJSC «Severneftegazprom» published the financial statements for six months 2019 prepared in accordance with the International Financial Reporting StandardsBack to news
OJSC «Severneftegazprom» (the «Company») issued the unaudited interim condensed Financial Information for the six months 2019 prepared in accordance with the International Accounting Standard 34 Interim Financial Reporting (IFRS (IAS 34)).
Revenue from the gas sales for the reporting period amounted to RUB 26 476 million. The increase in revenue by RUB 4 619 million, or 21% in comparison with the same period of the last year, is due to an increase in the gas price, determined by the formula in accordance with the Shareholders Agreement and gas supply contracts.
The cost of sales of commercial gas for the reporting period amounted to RUB 21 152 million, which is higher than the same indicator in 2018 by RUB 3 425 million or 18%. Comparing to the same period 2018, the increase was caused by the growth of mineral extraction tax (MET) by RUB 3 243 million or by 25%.
For the six months 2019, net assets increased by 3% and amounted to RUB 56 145 million.
The comprehensive income of OJSC «Severneftegazprom» under IFRS for the reporting period amounted to RUB 3 290 million, which is 43% higher than the figure of the same period 2018.
Full version of Financial Statements for the six months of 2019 ended June 30, 2019 prepared in accordance with IFRS is available at: http://en.severneftegazprom.com/shareholders/disclosure/reports/