Last checked at 30 Nov 2017 12:15
Tatneft published its IFRS consolidated interim condensed financial statements for the three and nine months ended 30 September 2017
30 November 2017
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 and nine months ended 30 September 2017 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 IFRS results for the three and nine months ended 30 September 2017. 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 2017 Tatneft Group produced 21.7 million tonnes (154.3 MMbbl) of crude oil and 724.0 million cubic meters of gas. TANECO refinery output in the nine months of 2017 was 6.0 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 2017 were 170,398 million Rubles (US$ 2,887 million) as compared to 147,395 million Rubles (US$ 2,281 million) in the corresponding period of 2016. In the nine months of 2017 consolidated sales and other operating revenues net of export duties and excise tax were 489,103 million Rubles (US$ 8,385 million) as compared to 415,239 million Rubles (US$ 6,073 million) in the nine months of 2016.
The consolidated profit attributable to Group shareholders in the third quarter of 2017 was 27,056 million Rubles (US$ 458 million) as compared to 26,692 million Rubles (US$ 413 million) in the third quarter of 2016. The consolidated profit attributable to Group shareholders during the nine months of 2017 was 88,796 million Rubles (US$ 1,522 million) as compared to 75,206 million Rubles (US$ 1,100 million) in the corresponding period of 2016.
Total consolidated assets of the Company increased from 1,094,597 million Rubles (US$ 18,045 million) as of 31 December 2016 to 1,104,098 million Rubles (US$ 19,031 million) as of 30 September 2017.
Total consolidated liabilities of the Company decreased from 385,693 million Rubles (US$ 6,358 million) as of 31 December 2016 to 358,447 million Rubles (US$ 6,178 million) as of 30 September 2017.
Total consolidated shareholders' equity increased from 708,904 million Rubles (US$ 11,687 million) as of 31 December 2016 to 745,651 million Rubles (US$ 12,852 million) as of 30 September 2017.
The Company's representatives will discuss the IFRS financial highlights for the three and nine months ended 30 September 2017 on a conference call on 4 December 2017 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*:
United Kingdom: 0808 162 4061;
USA and Canada: +1 855 481 5362;
Russia: +7 499 299 1360 (*0 to connect to the operator);
Standard international dial-in: +27 11 535 3600
Password to gain access to the conference call is "Tatneft 3Q2017 IFRS call".
The conference call replay will be available within 14 days after completion of the call by dialing* +27 11 305 2030 (international dial-in), +1 855 481 5363 (USA and Canada) or 0808 234 6771 (UK), using Playback ID 19478.
* PJSC Tatneft shall not be liable for inability to use any of the free numbers.
This press-release contains inside information.
Forward-looking statements: This press-release contains certain statements about future events and expectations that are forward-looking in nature. Any statement in this press-release 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.