PAO NOVATEK has released its consolidated interim condensed financial statements as of and for the three and nine months ended 30 September 2016 prepared in accordance with International Financial Reporting Standards (“IFRS”).
The Company’s total revenues in the third quarter and nine months 2016 increased by 7.8% and 14.5%, respectively, as compared to the corresponding periods of 2015. Normalized EBITDA, inclusive of joint ventures, totalled RR 57.7 billion in the third quarter 2016 and RR 179.4 billion in the nine months 2016, representing an increase of 9.8% and 14.3%, respectively, as compared to the corresponding periods of 2015. The growth in revenues and EBITDA was largely driven by substantial increase in liquids sales volumes.
Profit attributable to NOVATEK shareholders totalled RR 36.5 billion (RR 12.09 per share) in the third quarter 2016 and RR 198.3 billion (RR 65.70 per share) in the nine months 2016. Profit in the respective periods in 2015 were significantly impacted by foreign exchange losses, which resulted in a net loss in the third quarter 2015.
PAO NOVATEK is Russia’s largest independent gas producer and the second-largest natural gas producer in Russia. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 16% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol «NVTK».