Last checked at 1 Apr 2015 16:04
Tatneft published its audited IFRS consolidated financial statements for the year ended December 31, 2014.
01 April 2015
OAO Tatneft (the "Company") announces today that it published on its web-site (http://www.tatneft.ru/?lang=en) the audited consolidated financial statements for the year ended 31 December 2014 prepared in accordance with International Financial Reporting Standards ("IFRS") (the "Financial Statements") and related Directors' report, incorporating 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 2014 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.
The Company's consolidated sales and other operating revenues net of export duties and excise tax in 2014 were 476,360 million Rubles (US$ 12,399 million) as compared to 454,983 million Rubles (US$ 14,285 million) in 2013. The consolidated profit attributable to Group shareholders in 2014 was 92,227 million Rubles (US$ 2,400 million) as compared to 70,832 million Rubles (US$ 2,224 million) in 2013.
Total consolidated assets of the Company increased from 674,089 million Rubles (US$ 20,595 million) as of 31 December 2013, to 732,934 million Rubles (decreased in US dollar terms to US$ 13,028 million) as of 31 December 2014.
Total consolidated liabilities of the Company decreased from 170,107 million Rubles (US$ 5,197 million) as of 31 December 2013, to 150,690 million Rubles (US$ 2,678 million) as of 31 December 2014.
Total consolidated shareholders' equity increased from 503,982 million Rubles (US$ 15,398 million) as of 31 December 2013, to 582,244 million Rubles (decreased in US dollar terms to US$ 10,349 million) as of 31 December 2014.
The Company's representatives will discuss the IFRS financial highlights for the year ended 31 December 2014 on conference call on 2 April 2015 at 16:00 Moscow time, 14:00 London time, 09:00am 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 until 2 May 2015 completion of the call by dialing* +44 121 260 4861 (international dial-in) or +1 866 268 1947 (USA), using Conference ID 0573275 and 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.