Gazprom posts IFRS net profit of RUB 951.6 bln in 2016 (up 21%, year-on-year)
PJSC Gazprom has issued its audited consolidated financial statements prepared in accordance with International Financial Reporting Standards for the year ended December 31, 2016.
Profit attributable to the owners of PJSC Gazprom for the year ended December 31, 2016 totaled RUB 951,637 million which is RUB 164,581 million, or 21 %, more than for the same period of the prior year.
Total sales (net of excise tax, VAT and customs duties) increased by RUB 37,733 million, or 1 %, to RUB 6,111,051 million for the year ended December 31, 2016 compared to the same period of the prior year. The increase in sales was mainly driven by an increase in sales of crude oil and gas condensate.
Gazprom is one of the largest energy companies in the world. Its major business lines are geological exploration, production, transportation, storage, processing and sales of gas, gas condensate and oil, as well as generation and marketing of heat and electric power. Gazprom views its mission in reliable, efficient and balanced supply of natural gas, other energy resources and their derivatives to consumers.