Key financial indicators (IFRS)
Item | 2014 | 2015 | 2016 | 2017 | 2018 | |
---|---|---|---|---|---|---|
Revenue Starting from 1 January 2018, the Group has been applying IFRS 15 Revenue from Contracts with Customers. In line with its transitional provisions, the Group applies the standard retrospectively, adjusting the comparative data for 2017 financial year:
| ||||||
Crude oil, gas and petroleum products sales | 1,644,558 | 1,581,777 | 1,637,553 | 1,870,790 | 2,418,717 | 29.3 |
Less: export duties and sales related excise | (282,319) | (187,832) | (150,156) | – | – | – |
Other revenue | 45,999 | 73,998 | 58,211 | 63,799 | 70,575 | 10.6 |
Total revenue | 1,408,238 | 1,467,943 | 1,545,608 | 1,934,589 | 2,489,292 | 28.7 |
Costs and other deductions | ||||||
Purchases of oil, gas and petroleum products | (382,505) | (345,909) | (351,294) | (456,037) | (617,306) | 35.4 |
Production and operating expenses | (171,711) | (214,267) | (201,862) | (216,530) | (228,618) | 5.6 |
Selling, general and administrative expenses | (86,318) | (100,176) | (108,981) | (106,629) | (114,882) | 7.7 |
Transportation expenses | (116,125) | (133,320) | (132,984) | (141,982) | (147,182) | 3.7 |
Depreciation, depletion and amortisation | (85,951) | (114,083) | (129,845) | (140,998) | (175,451) | 24.4 |
Taxes other than income tax | (343,576) | (353,145) | (381,131) | (492,269) | (652,784) | 32.6 |
Export duties | – | – | – | (76,658) | (94,916) | 23.8 |
Exploration expenses | (936) | (922) | (1,195) | (963) | (1,411) | 46.5 |
Total operating expenses | (1,187,122) | (1,261,822) | (1,307,292) | (1,632,066) | (2,032,550) | 24.5 |
Other expenses | (8,471) | – | – | – | – | – |
Operating profit | 212,645 | 206,121 | 238,316 | 302,523 | 456,742 | 51.0 |
Share of profit / (loss) of associates and joint ventures | (6,306) | 24,956 | 34,116 | 45,504 | 90,704 | 99.3 |
Net foreign exchange (loss) / gain | (52,265) | (67,910) | 28,300 | (241) | (33,558) | >200 |
Finance income | 7,075 | 14,732 | 11,071 | 10,098 | 7,506 | (25.7) |
Finance expense | (15,279) | (33,943) | (34,282) | (25,127) | (21,476) | (14.5) |
Other (expenses) / income, net | – | 1,494 | (17,982) | (7,557) | (19,796) | 162.0 |
Total other (expenses) / income | (66,775) | (60,671) | 21,223 | 22,677 | 23,380 | 3.1 |
Profit before income tax | 145,870 | 145,450 | 259,539 | 325,200 | 480,122 | 47.6 |
Current income tax expense | (17,518) | (38,026) | (21,290) | (43,695) | (59,585) | 36.4 |
Deferred income tax benefit / (expense) | (1,696) | 8,774 | (28,524) | (11,827) | (19,544) | 65.2 |
Total income tax benefit / (expense) | (19,214) | (29,252) | (49,814) | (55,522) | (79,129) | 42.5 |
Profit for the period | 126,656 | 116,198 | 209,725 | 269,678 | 400,993 | 48.7 |
Less: profit attributable to non-controlling interest | (4,563) | (6,537) | (9,546) | (16,404) | (24,326) | 48.3 |
Profit attributable to Gazprom Neft | 122,093 | 109,661 | 200,179 | 253,274 | 376,667 | 48.7 |
In 2018, Gazprom Neft showed sustainable growth across key financial indicators. The Company’s revenue went up by 28.7% to ₽ 2.49 tn, which was driven by a favourable pricing environment, improved operational efficiency and consistent production growth at the Novoportovskoye, Prirazlomnoye and Vostochno-Messoyakhskoye fields.