Last checked at 9 Jun 2016 08:55
Tatneft published its IFRS consolidated interim condensed financial statements for the first quarter of 2016
9 June 2016
PJSC Tatneft (the "Company") announces today that it published on its web-site (http://www.tatneft.ru/?lang=en) the unaudited consolidated interim condensed financial statements (the "Financial Statements") for the three months ended 31 March 2016 prepared in accordance with International Financial Reporting Standards ("IFRS") and related Management Discussion and Analysis of Results of Operations (the "MD&A").
Selected financial highlights below are based on the respective IFRS financial statements of the Company. These highlights do not replace the Financial Statements or the MD&A and all interested persons are encouraged to read these documents for full understanding of first quarter 2016 IFRS results. Russian Ruble amounts below have been translated into U.S. Dollars, for sales and other operating revenues and net profit at the average exchange rate during the respective reporting period and for items of Statements of Financial Position at the exchange rate on the last date of the respective reporting period.
The Company's consolidated sales and other operating revenues net of export duties and excise tax in the first quarter of 2016 were 120,981 million Rubles (US$ 1,621 million) as compared to 135,061 million Rubles (US$ 2,172 million) in the first quarter of 2015. The consolidated profit attributable to Group shareholders in the first quarter of 2016 was 17,621 million Rubles (US$ 236 million) as compared to 26,569 million Rubles (US$ 427 million) in the first quarter of 2015.
Total consolidated assets of the Company decreased from 798,691 million Rubles (US$ 10,959 million) as of 31 December 2015 to 774,581 million Rubles (increased in US dollar terms to US$ 11,457 million) as of 31 March 2016.
Total consolidated liabilities of the Company decreased from 141,033 million Rubles (US$ 1,935 million) as of 31 December 2015 to 129,866 million Rubles (US$ 1,921 million) as of 31 March 2016.
Total consolidated shareholders' equity decreased from 657,658 million Rubles (US$ 9,024 million) as of 31 December 2015 to 644,715 million Rubles (increased in US dollar terms to US$ 9,536 million) as of 31 March 2016.
The Company's representatives will discuss the IFRS financial highlights for the quarter ended 31 March 2016 on conference call on 10 June 2016 at 16:00 Moscow time, 14:00 London time, 09:00am New York time.
To participate in the conference call, please dial any of the following numbers*:
United Kingdom: 0800 068 0521;
USA: +1 855 442 0876;
Russia: 8 800 100 9641;
All other locations: +44 203 478 5921
Password to gain access to the conference call is "Tatneft".
The conference call replay will be available within 7 days after completion of the call by dialing* +44 121 260 4861 (international dial-in) or +1 844 2308 058 (USA), using Conference ID 3522510 and followed by the # sign.
* PJSC Tatneft shall not be liable for inability to use any of the free numbers.
Forward-looking statements: These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. PJSC Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.