PJSC LUKOIL today released its condensed interim consolidated financial statements for the three months ended 31 March 2017 prepared in accordance with International Financial Reporting Standards (IFRS).
In the first quarter of 2017, profit attributable to PJSC LUKOIL shareholders was 62.3 bln RUB, up 33.7% and 45.5% quarter-on-quarter and year-on-year, respectively. Profit was significantly impacted by non-cash foreign exchange loss. Excluding this item, profit attributable to PJSC LUKOIL shareholders amounted to 97.1 bln RUB, a 22.7% increase year-on-year.
EBITDA increased to 207.6 bln RUB, or by 13.3% and 8.2% as compared to the fourth quarter of 2016 and the first quarter of 2016, respectively.
As compared to the first quarter of 2016, the Company’s sales increased by 21.6% primarily due to the higher sales prices, as well as higher sales volumes of crude oil and refined products internationally resulting from the increase in trading volumes.
LUKOIL is one of the world’s leading vertically integrated oil & gas companies. Main activities of the Company are exploration and production of oil & gas, production of petroleum products and petrochemicals, and marketing of these outputs.