Share of profit of associates and joint ventures


Share of profit / (loss) of associates and joint ventures (₽ m)
Company 2014 2015 2016 2017 2018 ∆ 2018/2017 (%)
Slavneft (5,072) 9,265 13,916 10,347 15,025 45.2
Messoyakhaneftegaz (947) 9,976 28,172 182.4
Arcticgas (1,809) 11,913 14,472 19,861 40,451 103.7
Northgas 3,466 3,009 3,433 3,699 7.7
Other companies 575 312 3,666 1,887 3,357 77.9
Total revenue (6,306) 24,956 34,116 45,504 90,704 99.3

The Group’s profit share in Slavneft increased y-o-y due to higher crude oil prices, while in Messoyakhaneftegaz – as a result of both, higher prices and production growth. The Group’s profit share in Arcticgas grew y-o-y following the production growth, higher crude oil prices and lower financial expenses in line with the optimisation of the debt portfolio, and the increase of Group’s share in Arcticgas from 46.67% to 50% from 21 March 2018.

Other income and expenses

Other expenses, which in 2018 mainly included disposal and write-offs of non-current assets, grew by 2.6 times y-o-y.

Other financial items

Foreign exchange gains (losses) are primarily attributable to the revaluation of the portion of the Group’s debt portfolio which is denominated in foreign currencies.