Last checked at 7 Jun 2019 07:42
Tatneft published its IFRS consolidated interim condensed financial statements for the first quarter of 2019
7 June 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 months ended 31 March 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 first quarter 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.
In the first quarter of 2019 Tatneft Group produced 7.3 million tonnes (52.2 MMbbl) of crude oil and 252 million cubic meters of gas. TANECO refinery output in the first quarter of 2019 was 2.2 million tonnes of refined products.
The Company's consolidated sales and other operating revenues on non-banking activities net of export duties and excise tax in the first quarter of 2019 were 227,326 million rubles (US$ 3,438 million) as compared to 188,345 million rubles (US$ 3,311 million) in the first quarter of 2018. The consolidated profit attributable to Group shareholders in the first quarter of 2019 was 60,151 million rubles (US$ 910 million) as compared to 42,010 million rubles (US$ 739 million) in the first quarter of 2018.
Financial results of Tatneft Group in the first quarter of 2019 include total net interest, fee and commission and other operating income and gains on banking activities in the amount of 128 million rubles.
The Company's EBITDA (a non-IFRS financial measure) in the first quarter of 2019 was 87,419 million Rubles (US$ 1,322 million) as compared to 61,167 million Rubles (US$ 1,075) in the first quarter 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 1,225,777 million rubles (US$ 18,937 million) as of 31 March 2018.
Total consolidated liabilities of the Company decreased from 424,507 million rubles (US$ 6,111 million) as of 31 December 2018 to 387,702 million rubles (US$ 5,990 million) as of 31 March 2019.
Total consolidated shareholders' equity increased from 776,781 million rubles (US$ 11,182 million) as of 31 December 2018 to 832,476 million rubles (US$ 12,861 million) as of 31 March 2019.
The Company's representatives will discuss the IFRS financial highlights for the first quarter of 2019 on a conference call on 7 June at 16:00 Moscow time, 14:00 London time, 09:00am New York time.
To participate in the conference call please preregister using the following link http://www.diamondpass.net/3572582
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 0203 608 8021 (UK), using Playback ID 25698.
* PJSC Tatneft shall not be liable for inability to use any of the free numbers.
These materials contain 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.