Gazprom Neft has published its consolidated financial results in accordance with International Financial Reporting Standards (IFRS) for FY 2015.
Profit attributable to the shareholders of Gazprom Neft totaled RUB 109.66 bln (-10.2%, year-on-year), the company says.
According to the statement, the decrease should be attributed to the negative impact of foreign exchange on loan revaluations, the rise in depreciation costs as a result of the Company’s investment program as well as the rising cost of borrowing in Russia.
EBITDA grew by 14.8% to RUB 345.16 mln. Adjusted EBITDA grew by 18.2% to RUB 404.8 mln.
Gazprom Neft is a vertically integrated oil company primarily engaged in oil and gas exploration and production, refining, and the production and sale of petroleum products.