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OJSC Severneftegazprom published the financial statements for 9 months 2019 prepared in accordance with the International Financial Reporting Standards

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OJSC Severneftegazprom (the Company) issued the unaudited interim condensed Financial Information for the nine months ended September 30, 2019 prepared in accordance with the International Accounting Standard 34 Interim Financial Reporting (IFRS (IAS 34)).

Revenue from gas sales for the reporting period amounted to RUB 38 048 million. The increase in revenue by RUB 4 375 million, or 13% 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 for commercial gas for the reporting period amounted to RUB 30 478 million, which is higher than the same indicator in 2018 by RUB 2 448 million or 8,7%. Comparing to the same period 2018, the increase was caused by the growth of mineral extraction tax (MET) by RUB 2 196 million or by 10%.

For the nine months 2019, net assets increased by 5% and amounted to RUB 57 531 million.

The comprehensive income of OJSC Severneftegazprom under IFRS for the reporting period amounted to RUB 4 675 million, which is 19% higher than the figure compared to the same period 2018.

Full version of Financial Statements for the nine months of 2019 ended September 30, 2019 prepared in accordance with IFRS is available at: http://en.severneftegazprom.com/shareholders/disclosure/reports/

 2020 OJSC Severneftegazprom