Last checked at 30 Nov 2018 12:34
Tatneft published its IFRS consolidated interim condensed financial statements for the three and nine months ended 30 September 2018
30 November 2018
Today PJSC Tatneft (the "Company") published on its web-site (http://www.tatneft.ru/?lang=en) the unaudited consolidated interim condensed financial statements (the "Financial Statements") for the three and nine months ended 30 September 2018 prepared in accordance with International Financial Reporting Standards ("IFRS") and the 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 three and nine months ended 30 September 2018 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.
In the nine months of 2018 Tatneft Group produced 21.8 million tonnes (155.2 MMbbl) of crude oil and 681.8 million cubic meters of gas. TANECO refinery output in the nine months of 2018 was 6.5 million tonnes of refined products.
The Company's consolidated sales and other operating revenues net of export duties and excise tax in the third quarter of 2018 were 252,824 million Rubles (US$ 3,858 million) as compared to 169,172 million Rubles (US$ 2,866 million) in the corresponding period of 2017. In the nine months of 2018 our consolidated sales and other operating revenues net of export duties and excise tax were 675,157 million Rubles (US$ 10,989 million) as compared to 486,151 million Rubles (US$ 8,334 million) in the nine months of 2017.
The consolidated profit attributable to Group shareholders in the third quarter of 2018 was 68,922 million Rubles (US$ 1,052 million) as compared to 27,056 million Rubles (US$ 458 million) in the third quarter of 2017. The consolidated profit attributable to Group shareholders in the nine months of 2018 was 174,096 million Rubles (US$ 2,834 million) as compared to 88,796 million Rubles (US$ 1,522 million) in the corresponding period of 2017.
Total consolidated assets of the Company increased from 1,107,454 million Rubles (US$ 19,227 million) as of 31 December 2017 to 1,237,700 million Rubles (US$ 19,722 million) as of 30 September 2018.
Total consolidated liabilities of the Company increased from 388,725 million Rubles (US$ 6,749 million) as of 31 December 2017 to 450,925 million Rubles (US$ 7,185 million) as of 30 September 2018.
Total consolidated shareholders' equity increased from 718,729 million Rubles (US$ 12,478 million) as of 31 December 2017 to 786,775 million Rubles (US$ 12,537 million) as of 30 September 2018.
The Company's representatives will discuss the IFRS financial highlights for the three and nine months ended 30 September 2018 on a conference call on 7 December 2018 at 16:00 Moscow time, 13:00 London time, 08:00am New York time.
To participate in the conference call, please dial any of the following numbers*:
Russia: +7 495 249 1682;
United Kingdom: 0333 300 1418;
USA and Canada: +1 508 924 4326;
Standard international dial-in: +27 11 535 3600
Password to gain access to the conference call is "Tatneft Call".
The conference call replay will be available within 7 days after completion of the call by dialing* +27 10 500 4108 (international dial-in), +1 412 317 0088 (USA) or 0203 608 8021 (UK), using Playback ID 19852.
* PJSC Tatneft shall not be liable for inability to use any of the free numbers.
This press release contains inside information.
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.