Last checked at 29 Sep 2015 11:19
Alliance Oil Company announces consolidated IFRS results for the Second Quarter and First Half 2015
September 29, 2015
Alliance Oil Company (hereinafter-“the Company”) published its condensed consolidated interim financial statements as of and for the six months ended June 30, 2015 prepared in accordance with International Financial Reporting Standards (“IFRS”), on its website www.allianceoilco.com today. The financial data, except for the financial statements, are based on management assessment only and have not been reviewed by external auditors.
In particular, the Company reports the following Second Quarter 2015 and First Half 2015 Results:
Financial results
1H 2015 Revenue of MUSD 1,118 (1H 2014: MUSD 1,747)2Q 2015 Revenue of MUSD 621 (2Q2014: MUSD 886)
1H 2015 EBITDA of MUSD 150 (1H 2014: MUSD 296)2Q 2015 EBITDA of MUSD 65 (2Q 2014: MUSD 150)
1H 2015 Loss of MUSD 16 (1H 2014 Profit: MUSD 34)2Q 2015 Profit of MUSD 7 (2Q 2014: MUSD 58)
Certain credit facilities were successfully extendedOperational Results
9.8 mboe produced in 1H 2015 (1H 2014: 10.3 mboe)5.0 mboe produced in 2Q 2015 (2Q 2014: 5.3 mboe)
15.4 mbbl of oil refined in 1H 2015 (1H 2014: 15.4 mbbl)7.5 mbbl of oil refined in 2Q 2015 (2Q 2014: 7.4 mbbl)
Overall, the Company delivered modest results both operationally and financially for the second quarter and six months 2015. The Company’s performance continues to heavily depend on the challenging macroeconomic factors.
On September 29, 2015 Alliance Oil Company’s representatives will discuss its financial results for the six months ended June 30, 2015 during the conference call scheduled for 17.00 Moscow time (15.00 – London, 10.00 – New York).
To participate in the conference call, please dial one of the following numbers*:
For the call in English, please use Call ID “Alliance Oil English” (Presentation and Q&A session in English)
For the call in Russian, please use Call ID “Alliance Oil Russian”
(Simultaneous translation into Russian, no questions allowed)
| Live Call Access Numbers For Participants | |||
| Country | Access Number | ||
| UK - Toll Free | +44 (0) 808 162 4061 | ||
| USA and Canada - Toll Free | +1 855 481 5362 | ||
| Russia - Moscow | +7 499 299 1360 | ||
| France - Toll Free | +33 (0) 800 902 688 | ||
| Germany - Toll Free | +49 (0) 800 181 6340 | ||
| Switzerland - Toll Free | +41 (0) 800 561 750 | ||
| The Netherlands - Toll Free | +31 (0) 800 022 0648 | ||
| Other Countries - International | +44 808 162 4061 | ||
Playback Access Numbers – Playback Code 39191#
| Country | Access Number | ||
| Other Countries - International | +44 808 234 6771 | ||
| UK - Toll Free | +44 (0) 808 234 6771 | ||
| USA and Canada - Toll Free | +1 855 481 5363 |
* Alliance Oil Company assumes no responsibility for the inaccessibility of the toll free numbers listed above.
DISCLAIMER
This press release includes "forward-looking statements" which involve uncertainties and risks. Forward-looking statements include statements concerning AOC plans, objectives, goals, strategies, future events, future revenues, future results and performance, expectations, plans or intentions relating to acquisitions and other matters, business trends and other information that is not historical, including statements regarding estimates of AOC growth targets or other future financial results. When used in this press release, words such as "anticipates," “aspirational,” "estimates," "expects," “goals,” "intends," "believes,” "forecasts," “targets,” “objectives” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, estimates of AOC future financial results, are based upon our expectations at the time we make them and various assumptions. Our expectations, beliefs, projections and growth targets are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs, estimates or growth targets will be achieved, and AOC's actual results may differ materially from our expectations, beliefs, estimates and growth targets.
AOC as a group has experienced fluctuating revenues, operating income and cash flow in prior periods and expects that this will occur from time to time in the future. Other factors that could cause such differences include declines in demand for, or changes in, the mix of products that we offer, the mix of the geographic locations where our business is located, adverse financial, real estate or other market and general economic conditions, which could impact each of our segments differently, the pace and timing of the consummation and integration of past and future acquisitions, AOC’s ability to realize cost savings and efficiencies, competitive and general economic conditions, retention of staff and clients and other risks. AOC is under no duty to update any of the forward looking statements to conform such statements to actual results or events and do not intend to do so.
Alliance Oil Company Ltd is a leading independent oil and gas company with vertically integrated operations in Russia and Kazakhstan. Alliance Oil has substantial oil and gas reserves and downstream operations that include the Khabarovsk refinery and the leading network of gas stations and wholesale oil products terminals in the Russian Far East.
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