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Slavenft reports data of the Financial Statements under IFRS for Q4 and 12 months of 2017

12.02.2018

OAO NGK Slavneft reports the consolidated data of the Financial Statements prepared in accordance with the International Financial Reporting Standards (IFRS) for Quarter 4 and for 12 months of 2017.

Key Financial Indicators
(in mln of Russian rubles)

 
Q4 2017
Q4 2016
12 months
of 2017
12 months
of 2016
Revenues
Operating expenses
Taxes except for the income tax
Other items of expenses
66,708
(12,174)
(32,588)
(2,439)
56,908
(12,520)
(25,442)
(2,873)
241,253
(45,952)
(116,517)
(8,911)
214,509
(46,264)
(89,039)
(9,487)
EBITDA
Depreciation & amortization
Impairment and profit/(loss) from assets disposal
19,507
(10,413)
(269)
16,073
(9,277)
(29)
69,873
(37,984)
(570)
69,719
(33,732)
143
Operating income
Finance expenses, net
Profit from forex difference
8,825
(2,232)
77
6,767
(1,157)
537
31,319
(5,792)
550
36,130
(4,941)
4,136
Income before tax
Income tax expense
6,670
(831)
6,147
(202)
26,077
(4,429)
35,325
(6,224)

Profit for the period attributable to:
- Slavneft’s shareholders
- non-controlling interests

Other comprehensive income/(loss)
5,839
3,172
2,667

(78)
5,945
3,707
2,238

(281)
21,648
12,031
9,617

59
29,101
17,239
11,862

(403)
Total comprehensive income attributable to: 5,761 5,664 21,707 28,698
- Slavneft’s shareholders
- non-controlling interests
3,117
2,644
3,565
2,099
12,078
9,629
16,975
11,723
  

The revenue from sales for Q4 2017 made RUR 66,708 mln and increased by 17% against Q4 2016 due to the rise in the crude oil sale price. Following the results of 2017, the revenue grew by 12% against the similar period of 2016 and was equal to RUR 241,253 mln.

Except for the income tax, taxes for Q4 2017 increased by 28% vs. Q4 2016 and made RUR 32,588 mln. Following the results of 2017, this indicator grew by 31%, i.e. up to RUR 116,517 mln, against the similar indicator recorded for 2016 mainly due to the MET rate increase.

In Q4 2017, the earnings before taxes, income tax and amortization (EBIDTA) grew by 21% and made RUR 19,507 mln. In 2017 EBIDTA was equal to RUR 69,873 mln; this indicator is 0.2% higher than the 2016 EBIDTA. The effect of the tax burden (mainly MET) increase in 2017 vs. 2016 was compensated by the higher crude oil sale prices and by the reduced operating, administrative and other expenses.

The comprehensive income of Slavneft’s shareholders in Q4 2017 grew by 2%, i.e. up to RUR 5,761 mln, against Q4 2016. Following the results of 2017, the comprehensive income of Slavneft’s shareholders made RUR 21,707 mln that is 24% below the 2016 indicator. The amortization charged due to commissioning of a great number of fixed assets and reduction in the profit from forex difference caused the decrease in the comprehensive income.
 

 
  
 
International Financial Reporting Department
OAO NGK Slavneft
Tel.: +7 (495) 787 82 16

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