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OJSC Severneftegazprom published the financial statements for 9 months 2020

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OJSC Severneftegazprom (the Company) issued the unaudited interim condensed Financial Information for 9 months 2020 ended September 30, 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 33 519 million. The decrease in revenue by RUB 4 529 million, or 11,90% 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 29 180 million, which is lower than the same indicator in 2019 by RUB 1 298 million or 4,26%. Comparing to the same period of the last year, the decrease was caused mainly by the reduction of mineral extraction tax (MET) by RUB 3 390 million or by 14,66%.

For nine months 2020, net assets decreased by 3,60% and amounted to RUB 55 304 million.

The comprehensive income under IFRS based on the results of financial and economic activities for the reporting period amounted to RUB 2 344 million, which is 49,86% lower than the figure compared to the same period 2019 is due to a decrease in revenue.

Full version of interim condensed Financial Information for the nine months of 2020 ended September 30, 2020 prepared in accordance with IFRS is available at: http://en.severneftegazprom.com/shareholders/disclosure/reports/