Last checked at 25 Jun 2008 13:48
On 25 June 2008 OAO Tatneft issued the following press release:
25 June 2008
OAO Tatneft published its audited consolidated U.S. GAAP financial statements for the year ended December 31, 2007
OAO Tatneft (the "Company") announces today that it published on its web-site http://www.tatneft.ru/eng/buh.htm the audited consolidated financial statements for the year ended December 31, 2007 prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") (the "Financial Statements").
Selected financial highlights below are based on the respective U.S. GAAP financial statements of the Company. Russian Ruble amounts below have been translated into U.S. Dollars at the exchange rates on the last day of the respective reporting period.
The Company's consolidated revenues in 2007 were 356,276 mln Rubles (US$ 14,512 mln) as compared to 318,284 mln Rubles (US$ 12,088 mln) in 2006. The consolidated net income for 2007 was 43,279 mln Rubles (US$ 1,762.9 mln) as compared to 29,773 mln Rubles (US$ 1,130.8 mln) in 2006.
Total consolidated assets of the Company increased from 319,424 mln Rubles (US$ 12,131.6 mln) as of December 31, 2006, to 370,219 mln Rubles (US$ 15,080.2 mln) as of December 31, 2007.
Total consolidated liabilities of the Company increased from 84,547 mln Rubles (US$ 3,211 mln) as of December 31, 2006, to 101,661 mln Rubles (US$ 4,141 mln) as of December 31, 2007.
Total consolidated shareholders' equity increased from 231,703 mln Rubles (US$ 8,800 mln) as of December 31, 2006, to 264,059 mln Rubles (US$ 10,756 mln) as of December 31, 2007.
The Company's representatives will discuss the U.S. GAAP financial highlights for 2007 on a conference call on 27 June 2008 at 6:00 p.m. Moscow time, 3:00 p.m. BST.
To participate in the conference call please dial the following number in the United Kingdom +44 20 8974 7900 using PIN 419 571. The conference call replay will be available for 14 days from 30 June 2008 by dialing +44 20 7136 9233 in the U.K. using passcode 88945926.
The Financial Statements have been filed with the Document Viewing Facility of the UKLA.
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. OAO 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.