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SLAVNEFT reports data of the Financial Statements under IFRS for Q2 and HI 2018

01.08.2018

SLAVNEFT reports the consolidated data of the Financial Statements prepared in accordance with the International Financial Reporting Standards (IFRS) for Quarter 2 and for the first half of 2018.

Key Financial Indicators
(in mln of Russian rubles)
 

 
Q2 2018
Q2 2017 HI 2018 HI 2017
Revenue
Operating expenses
Taxes except for the income tax
Other items of (expenses) / income
82,667
(10,748)
(43,099)
(2,440)
53,371
(11,054)
(25,970)
(2,394)
148,009
(22,246)
(76,674)
(4,255)
111,410
(21,787)
(55,186)
(4,317)
EBITDA
Depreciation & Amortization
Impairment and profit / (loss) from disposal of
assets
26,380
(9,409)
(830)
13,953
(9,261)
(20)
44,834
(18,756)
(900)
30,120
(17,800)
(97)
Operating income
Financial expenses, net
Profit from forex difference
 16,141
(2,074)
(337)
4,672
(1,085)
(406)
25,178
(4,243)
(346)
12,223
(1,985)
332
Income before tax
Income tax expense
13,730
(2,746)
3,181
(499)
 20,589
(4,105)
10,570
(1,813)

Profit for the period attributable to:
- SLAVNEFT’s shareholders
- non-controlling interests

Other comprehensive income
10,984
7,191
3,793

-
2,682
1,143
1,539

-
16,484
10,495
5,989

-
8,757
4,798
3,959

81
Total comprehensive income attributable to: 10,984 2,682 16,484 8,838
- SLAVNEFT’s shareholders
- non-controlling interests
7,191
3,793
1,143
1,539
10,495
5,989
4,844
3,994
The revenue from sales for Q2 2018 increased by 55%, i.e. up to RUR 82,667 mln, against Q2 2017. The revenue for HI 2018 amounted to RUR 148,009 mln and increased by 33% against the similar period of the previous year. The revenue grew due to the rise in the crude oil sale price.
 
In Q2 2018, the taxes, except for the income tax, grew by 66% vs. Q2 2017 mainly due to the MET rate increase and were equal to RUR 43,099 mln. In the first half of 2018, this indicator increased by 39% against the first half of 2017 and made RUR 76,674 mln.
 
Under performance results of Q2 2018, the earnings before interests, income tax and amortization (EBIDTA) made RUR 26,380 mln that exceeds the Q2 2017 indicator by 89%. In HI 2018, EBIDTA increased by 49% against the similar period of the previous year and made RUR 44,834 mln. The increased revenue from sales was the main factor, which had an impact on the EBIDTA growth.
 
The comprehensive income of SLAVNEFT’s shareholders in Q2 2018 grew more than 4 times vs. Q2 2017 and amounted to RUR 10,984 mln. In HI 2018, the comprehensive income of SLAVNEFT’s shareholders made RUR 16,484 mln that is 87% more than the indicator of the similar period in 2017. The increased revenue from sales had a positive impact on the dynamics of the income growth.

 
 
International Financial Reporting Department
SLAVNEFT
Tel.: +7 (495) 787 82 16

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