Last checked at 28 Nov 2014 07:47
Tatneft published its IFRS consolidated interim condensed financial statements for the three and nine months ended 30 September 2014
28 November 2014
OAO Tatneft (the "Company") announces today that it published on its web-site (http://www.tatneft.ru/?lang=en) the unaudited consolidated interim condensed financial information for the three and nine months ended 30 September 2014 prepared in accordance with International Financial Reporting Standards ("IFRS") (the "Financial Statements") 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 the Company's IFRS results for the three and nine months ended 30 September 2014. 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 third quarter of 2014 were 126,953 million Rubles (US$ 3,508 million) as compared to 123,389 million Rubles (US$ 3,762 million) in the corresponding period of 2013. In the nine months of 2014 our consolidated sales and other operating revenues net of export duties and excise tax were 371,815 million Rubles (US$ 10,506 million) as compared to 334,639 million Rubles (US$ 10,583 million) in the nine months of 2013.
The consolidated profit attributable to Group shareholders in the third quarter of 2014 was 22,019 million Rubles (US$ 608 million) as compared to 23,232 million Rubles (US$ 708 million) in the third quarter of 2013. The consolidated profit attributable to Group shareholders in the nine months of 2014 was 73,584 million Rubles (US$ 2,079 million) as compared to 55,141 million Rubles (US$ 1,744 million) in the corresponding period of 2013.
Total consolidated assets of the Company increased from 674,089 million Rubles (US$ 20,595 million) as of 31 December 2013 to 730,950 million Rubles (decreased in US dollar terms to US$ 18,557 million) as of 30 September 2014.
Total consolidated liabilities of the Company decreased from 170,107 million Rubles (US$ 5,197 million) as of 31 December 2013 to 167,743 million Rubles (US$ 4,259 million) as of 30 September 2014.
Total consolidated shareholders' equity increased from 503,982 million Rubles (US$ 15,398 million) as of 31 December 2013 to 563,207 million Rubles (decreased in US dollar terms to US$ 14,298 million) as of 30 September 2014.
The Company's representatives will discuss the IFRS financial highlights for the nine months of 2014 on a conference call on 28 November 2014 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: 0800 068 0521;
USA: +1 855 442 0876;
Russia: 8 800 100 9635;
All other locations: +44 203 478 5921
Password to gain access to the conference call is "Tatneft".
The conference call replay will be available for 14 days upon completion of the call by dialing* +44 121 260 4861 (international dial-in) or +1 866 268 1947 (USA), using PIN 7002064 followed by the # sign.
* JSC 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. 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.