Pjsc Tatneft Regulatory News (ATAD)

Tatneft published its IFRS consolidated interim condensed financial statements for the three and nine months ended 30 September 2019

29 November 2019

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 2019 prepared in accordance with International Financial Reporting Standards ("IFRS") and the related Management Discussion and Analysis of Financial Condition and 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 the IFRS results for the three and nine months of 2019. Russian ruble amounts below have been translated into U.S. dollars, for sales and other operating revenues, net profit and EBITDA 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 2019 Tatneft Group produced 22.4 million (159.2 MMbbl) of crude oil and 764.9 million cubic meters of gas. TANECO refinery output in the nine months of 2019 was 7.2 million tonnes of refined products.

The Company's consolidated sales and other operating revenues on non-banking activities net of export duties and excise taxes in the third quarter of 2019 were 241,753 million rubles (US$ 3,743 million) as compared to 252,824 million rubles (US$ 3,858 million) in the third quarter of 2018. In the nine months of 2019 the consolidated sales and other operating revenues net of export duties and excise taxes were 691,409 million rubles (US$ 10,624 million) as compared to 675,157 million rubles (US$ 10,989 million) in the nine months of 2018.

The consolidated profit attributable to Group shareholders in the third quarter of 2019 was 58,433 million rubles (US$ 905 million) as compared to 68,922 million rubles (US$ 1,052 million) in the third quarter of 2018. The consolidated profit attributable to Group shareholders in the nine months of 2019 was 172,719 million Rubles (US$ 2,654 million) as compared to 174,096 million rubles (US$ 2,834 million) in the corresponding period of 2018.

Financial results of Tatneft Group in the three and nine months of 2019 include total net interest, fee and commission and other operating income and gains on banking activities in the amounts of 1,564 and 2,087 million rubles, respectively, as compared to 198 and 755 million rubles, respectively, in the corresponding periods of 2018.

The Company's EBITDA (a non-IFRS financial measure) in the third quarter of 2019 was 83,688 million rubles (US$ 1,286 million) as compared to 94,428 million Rubles (US$ 1,537 million) in the third quarter of 2018. The Company's EBITDA in the nine months of 2019 was 248,070 million rubles (US$ 3,812 million) as compared to 237,674 million Rubles (US$ 3,868 million) in the corresponding period of 2018.

Total consolidated assets of the Company increased from 1,201,288 million rubles (US$ 17,292 million) as of 31 December 2018 to 1,281,401 million rubles (US$ 19,891 million) as of 30 September 2019.

Total consolidated liabilities of the Company increased from 424,507 million rubles (US$ 6,111 million) as of 31 December 2018 to 491,884 million rubles (US$ 7,636 million) as of 30 September 2019.

Total consolidated shareholders' equity increased from 776,781 million rubles (US$ 11,182 million) as of 31 December 2018 to 789,607 million rubles (US$ 12,257 million) as of 30 September 2019.

Simultaneously with the release of the Financial Statements the Company published on its website an investor presentation containing, inter alia, the core operating and CAPEX projections for the full year 2019 and plans for 2020.

The IFRS financial highlights for the three and nine months of 2019 will be presented on a conference call on 29 November at 16:00 Moscow time, 13:00 London time, 08:00 am New York time.

To participate in the conference call please preregister using the link www.diamondpass.net/6904694.

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 +44 203 608 8021 (UK), using Playback ID 29689.

* 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.