Last checked at 25 Aug 2017 13:25
Tatneft published its IFRS consolidated interim condensed financial statements for the three and six months ended 30 June 2017
25 August 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 six months ended 30 June 2017 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 the Company's IFRS results for the three and six months ended 30 June 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 six months of 2017 Tatneft Group produced 14.38 million tonnes (102.4 MMbbl) of crude oil and 489.6 million cubic meters of gas. TANECO refinery output in the six months of 2017 was 3.6 million tonnes of refined products. In the second quarter of 2017 refining operations at TANECO were suspended for approximately one month due to scheduled maintenance.
The Company's consolidated sales and other operating revenues net of export duties and excise tax in the second quarter of 2017 were 152,260 million Rubles (US$ 2,664 million) as compared to 146,863 million Rubles (US$ 2,229 million) in the corresponding period of 2016. In the six months of 2017 our consolidated sales and other operating revenues net of export duties and excise tax were 318,705 million Rubles (US$ 5,496 million) as compared to 267,844 million Rubles (US$ 3,812 million) in the six months of 2016.
The consolidated profit attributable to Group shareholders in the second quarter of 2017 was 26,150 million Rubles (US$ 458 million) as compared to 30,893 million Rubles (US$ 469 million) in the second quarter of 2016. The consolidated profit attributable to Group shareholders in the six months of 2017 was 61,740 million Rubles (US$ 1,065 million) as compared to 48,514 million Rubles (US$ 690 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 1,130,777 million Rubles (US$ 19,138 million) as of 30 June 2017.
Total consolidated liabilities of the Company increased from 385,693 million Rubles (US$ 6,358 million) as of 31 December 2016 to 410,607 million Rubles (US$ 6,949 million) as of 30 June 2017.
Total consolidated shareholders' equity increased from 708,904 million Rubles (US$ 11,687 million) as of 31 December 2016 to 720,170 million Rubles (US$ 12,189 million) as of 30 June 2017.
The Company's representatives will discuss the IFRS financial highlights for the three and six months ended 30 June 2017 on a conference call on 5 September 2017 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: 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 1H17 IFRS Results call".
The conference call replay will be available for 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 16728.
* 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.