OJSC Severneftegazprom published the financial statements for 3 months 2021 in accordance with the IFRSBack to news
OJSC Severneftegazprom issued the unaudited interim condensed Financial Information for 3 months 2021 ended March 31, 2021 prepared in accordance with the International Accounting Standard 34 Interim Financial Reporting (IFRS (IAS 34)).
The comprehensive income as at March 31, 2021 under IFRS based on the results of financial and economic activities amounted to RUB 2,038 million, which is 12.32% higher in comparison with the same period of the last year.
Revenue from gas sales for the reporting period amounted to RUB 11,101 million. The decrease in revenue by RUB 1,751 million, or 13.62% 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 8,356 million, which is lower than the same indicator as at March 31, 2020 by RUB 1,904 million or 18.56%. In comparison to the same period of the last year, the decrease was caused mainly by the reduction of mineral extraction tax (MET) by RUB 2,237 million or by 31.14%.
For the three months ended March 31, 2021, net assets increased by 3.55% and amounted to RUB 59,528 million.
Full version of interim condensed Financial Information for the three months of 2021 ended March 31, 2021 prepared in accordance with IFRS is available at: https://en.severneftegazprom.com/charter-capital-structure/disclosure/reports/