Net income of Rosneft totaled RUB 549 bln in 2018, up 2.5 times YoY
In 12M 2018 net income attributable to Rosneft shareholders increased by 2.5 times YoY and amounted to RUB 549 bln (USD 8.9 bln), the company says in a press release.
“On the back of higher operating income net income growth was driven by positive FX impact and one-off gain from the share acquisition in upstream JV with a foreign partner and fair value recognition of previously held interest in JV", says the statement.
Revenues and equity share in profits of associates and joint ventures grew by 37% to RUB 8.23 trillion.
12М 2018 revenue boosted by more than 1.4 times YoY up to RUB 8,238 bln (USD 133.7 bln) mainly due to favorable world price dynamics (+41.2% in RUB terms and 31.4% in USD terms) and growth of equity share in profits of the Russian and international projects (+44% YoY).
EBITDA grew by 48.6% to RUB 2.08 trillion.
Rosneft is the leader of Russia’s petroleum industry and the world’s largest publicly traded petroleum company. Rosneft activities include hydrocarbon exploration and production, upstream offshore projects, hydrocarbon refining, and crude oil, gas and product marketing in Russia and abroad.