Gazprom Neft achieves net profit growth of 12.7% Y-O-Y for 9M 2016

Gazprom Neft PJSC has published its consolidated financial results in accordance with International Financial Reporting Standards (IFRS) for 9M 2016.

Increased production at major upstream projects and effective management drove a 4.1% Y-o-Y increase in adjusted EBITDA (earnings before interest, taxation, depreciation and amortization) for 9M 2016, to RUB 325 bln. Net profit attributable to shareholders in Gazprom Neft PJSC for 9M 2016 reached RUB 147 bln, a 12.7% increase Y-o-Y.

Adjusted EBITDA for 3Q 2016 rose by 13.2% Q-o-Q to RUB 121 bln, driven by a significant increase in upstream production at key projects. Net profit attributable to shareholders in Gazprom Neft PJSC reached RUB 57 bln in 3Q 2016, rising by 16.8% Q-o-Q.