OJSC Severneftegazprom published the financial statements for 3 months 2020 prepared in accordance with the International Financial Reporting StandardsBack to news
OJSC Severneftegazprom (the Company) issued the unaudited interim condensed Financial Information for 3 months 2020 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 12 852 million. The decrease in revenue by RUB 986 million, or 7,12% in comparison with the same period of the last year, is due to a decrease 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 10 260 million, which is lower than the same indicator in 2019 by RUB 951 million or 8,48%. Comparing to the same period 2019, the decrease was caused by the reduction of mineral extraction tax (MET) by RUB 1 506 million or by 17,35%.
For three months 2020, net assets increased by 3,16% and amounted to RUB 59 183 million.
The comprehensive income of OJSC Severneftegazprom under IFRS for the reporting period amounted to RUB 1 815 million, which is 10,83% higher than the figure compared to the same period 2019.
Full version of Financial Statements for the three months of 2020 ended March 31, 2020 prepared in accordance with IFRS is available at: http://en.severneftegazprom.com/shareholders/disclosure/reports/