PJSC Gazprom issued its unaudited consolidated interim condensed financial information
OREANDA-NEWS. Today PJSC Gazprom issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (IAS 34) for the six months ended June 30, 2016.
The table below presents the unaudited consolidated interim condensed statement of comprehensive income prepared in accordance with IFRS for the six months ended June 30, 2016 and for the six months ended June 30, 2015. All amounts are presented in millions of the Russian Rubles.
|
Six months ended |
||
|---|---|---|
|
2016 |
2015 |
|
|
Sales |
3,064,372 |
2,913,452 |
|
Net gain (loss) from trading activity |
29,529 |
(7,953) |
|
Operating expenses |
(2,680,732) |
(2,224,215) |
|
Operating profit |
413,169 |
681,284 |
|
Finance income |
700,268 |
1,063,303 |
|
Finance expense |
(367,387) |
(949,422) |
|
Share of net income of associates and joint ventures |
33,766 |
61,415 |
|
Gains on disposal of available-for-sale financial assets |
1,021 |
430 |
|
Profit before profit tax |
780,837 |
857,010 |
|
Current profit tax expense |
(105,785) |
(122,538) |
|
Deferred profit tax expense |
(49,647) |
(43,216) |
|
Profit tax expense |
(155,432) |
(165,754) |
|
Profit for the period |
625,405 |
691,256 |
|
Other comprehensive income (loss): |
||
|
Items that will not be reclassified to profit or loss: |
||
|
Remeasurements of post-employment benefit obligations |
(78,625) |
(118,428) |
|
Total items that will not be reclassified to profit or loss |
(78,625) |
(118,428) |
|
Items that may be reclassified subsequently to profit or loss: |
||
|
Gains arising from change in fair value of available-for-sale financial assets, net of tax |
20,806 |
38,783 |
|
Share of other comprehensive (loss) income of associates and joint ventures |
(4,518) |
11,619 |
|
Translation differences |
(186,490) |
(68,945) |
|
Gains from cash flow hedges, net of tax |
39,535 |
13,478 |
|
Total items that may be reclassified subsequently to profit or loss |
(130,667) |
(5,065) |
|
Other comprehensive loss for the period, net of tax |
(209,292) |
(123,493) |
|
Total comprehensive income for the period |
416,113 |
567,763 |
|
Profit for the period attributable to: |
||
|
Owners of PJSC Gazprom |
607,160 |
675,904 |
|
Non-controlling interest |
18,245 |
15,352 |
|
625,405 |
691,256 |
|
|
Total comprehensive income for the period attributable to: |
||
|
Owners of PJSC Gazprom |
405,536 |
557,002 |
|
Non-controlling interest |
10,577 |
10,761 |
|
416,113 |
567,763 |
|
Total sales (net of excise tax, VAT and customs duties) increased by RUB 150,920 million, or 5%, to RUB 3,064,372 million for the six months ended June 30, 2016 compared to the same period of the prior year. The increase in sales is mainly driven by the increase in sales of gas to Europe and Other countries.
More detailed information concerning the main items of the sales' structure for the six months ended June 30, 2016 and June 30, 2015 is presented in the table below.
|
(RUB million unless indicated otherwise) |
Six months ended |
|
|---|---|---|
|
2016 |
2015 |
|
|
Sales of gas |
||
|
Europe and Other countries |
||
|
Net sales (net of excise tax and customs duties) |
1,128,271 |
946,620 |
|
Volumes in bcm |
109.4 |
80.4 |
|
Average price, RUB per mcm (including excise tax and customs duties) |
12,798.3 |
15,551.5 |
|
Former Soviet Union countries |
||
|
Net sales (net of customs duties) |
166,621 |
229,638 |
|
Volumes in bcm |
16.4 |
20.9 |
|
Average price, RUB per mcm (including customs duties) |
11,135.9 |
12,176.6 |
|
Russian Federation |
||
|
Net sales (net of VAT) |
420,395 |
425,284 |
|
Volumes in bcm |
109.7 |
120.0 |
|
Average price, RUB per mcm (net of VAT) |
3,831.0 |
3,543.0 |
|
Total sales of gas |
||
|
Retroactive gas price adjustments |
39,984 |
17,220 |
|
Net sales (net of excise tax, VAT and customs duties) |
1,755,271 |
1,618,762 |
|
Volumes in bcm |
235.5 |
221.3 |
|
Net sales of refined products (net of excise tax, VAT and customs duties) |
703,468 |
761,603 |
|
Net electric and heat energy sales (net of VAT) |
236,292 |
217,728 |
|
Net sales of crude oil and gas condensate (net of VAT and customs duties) |
166,549 |
130,652 |
|
Net gas transportation sales (net of VAT) |
95,772 |
90,621 |
|
Other revenues (net of VAT) |
107,020 |
94,086 |
|
Total sales (net of excise tax, VAT and customs duties) |
3,064,372 |
2,913,452 |
Net sales of gas increased by RUB 136,509 million, or 8%, to RUB 1,755,271 million for the six months ended June 30, 2016 compared to the same period of the prior year.
Net sales of gas to Europe and Other countries increased by RUB 181,651 million, or 19%, to RUB 1,128,271 million for the six months ended June 30, 2016 compared to the same period of the prior year. This was mainly driven by the increase in volumes of gas sold by 36%, or 29.0 bcm, which was partially compensated by the decrease in average Russian Ruble prices (including excise tax and customs duties) by 18%.
Net sales of gas to Former Soviet Union countries decreased by RUB 63,017 million, or 27%, to RUB 166,621 million for the six months ended June 30, 2016 compared to the same period of the prior year. The change was due to the decrease in volumes of gas sold by 22%, or 4.5 bcm, and the decrease in average Russian Ruble prices (including customs duties) by 9%.
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