Investment Case


  • Extensive Resource Base
  • Higher Refining Marginas a Result of Refinery Upgrades
  • New Digital Technologiesin The Petroleum Products Sales Chain
  • Managing the Value Chainas a Single Asset
    Market valuation
  • Operating Efficiency and Industrial Safety Framework Across All Lines of Business
  • Flexible Decision Making in Investment Activities
  • Ambitious Goals in Environmental Protection and Social Responsibility
  • Growing Operating Cash Flow and Dividend Payments

Market valuation

₽ 396
average analyst share target price
+23%
upside potential (vs price as at 25 March 2019)

Market Capitalisation and Shareholder Return

Consistent growth in dividends


Percentage of net profit (IFRS) (%)
Total dividends per share (₽)

Dividends

35%+
net-profit dividend distribution in 2018 (IFRS)

Record-breaking capitalisation

₽ 1.6tn
market capitalisation
As at 31 December 2018
+43%
share price growth in 2018

The Company’s position in the industry


29.0%
EBITDA margin
22.0%
ROE (return on equity)
19.1%
ROACE (return on average capital employed)
₽ 1,540.1
EBITDA per barrel of oil produced
8.35 mt
gasoline production in Russia
3.28 mt
production of aviation fuel in Russia
84.0%
refining depth Based on data by CDU TEK for vertically integrated oil companies.
₽ 799.5 bn
adjusted EBITDA
92.9 mtoe
hydrocarbon production
63.0 mt
crude oil production
39.4 mt
oil refining in Russia