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OJSC Severneftegazprom published the financial statements for 6 months 2021 in accordance with the IFRS

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OJSC Severneftegazprom issued the unaudited interim condensed Financial Information for 6 months 2021 ended June 30, 2021 prepared in accordance with the International Accounting Standard 34 Interim Financial Reporting (IFRS (IAS 34)).

The comprehensive income for the first half of the year 2021 under IFRS based on the results of financial and economic activities amounted to RUB 3,184 million, which is RUB 1,018 million or 47.00% higher in comparison with the first half of the year 2020.

Revenue from gas sales for the reporting period amounted to RUB 21,866 million. The decrease in revenue by RUB 2,343 million, or 9.68% in comparison with the same period of the last year (first half of the year 2020), 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 17,086 million, which is lower than the same indicator of 2020 (first half of the year 2020) by RUB 3,381 million or 16.52%. The decrease was caused mainly by the reduction of mineral extraction tax (MET) by RUB 4,275 million or by 29.95%. The decrease is due to a change in the constituent coefficients in the MET rate calculation and an increase in the share of gas produced from the Turonian gas reservoir.

Due to the increase of borrowings under the current loan agreement with PJSC VTB Bank, non-current liabilities for the first half of this year increased by RUB 9,208 million and amounted to 44,420 million rubles.

For the first half of the year 2021, net assets decreased by 4.81% and amounted to RUB 54,724 million.

Full version of interim condensed Financial Information for the six months of 2021 ended June 30, 2021 prepared in accordance with IFRS is available at: http://www.severneftegazprom.com/akcioneram-i-investoram/raskrytie-informacii/otchety/