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Consolidated Interim Condensed Financial Statements of Transneft for Three Months Ending 31 March 2017 Have Been Published

Date of publication: 2 June 2017 Printable version

In the section “For Investors and Shareholders” of Transneft’s official site has been updated with interim condensed financial statements, prepared in accordance with the International Financial Reporting Standards (IFRS) for three months ending 31 March 2017.

Group’s main operating results for the period under report

Indicator

 Unit

3 months ending 31 March 2017

3 months ending 3 March 2016

Change, %

 Crude oil delivery

Million tonnes

117.7

119.4

(1.4)

Oil freight turnover

Bln t x km

296.7

297.7

(0.3)

Petroleum products delivery

Million tonnes

8.1

8.4

(3.6)

Revenue

RUB bln

219.1

204.0

7.4

EBITDA*

RUB bln

110.4

107.1

3.0

Debt/EBITDA

Units 1.6 1.7 X

Net income

RUB bln

79.5

75.6

5.2

* Not including purchase and sale of crude oil under contracts with Rosneft and China National United Oil Corporation.

Crude oil delivery for 3 months ending 31 March 2017 came to 117.7 mln tonnes, down 1.7 mln tonnes or 1.4% year-on-year, whereas oil freight turnover contracted by 1.0 bln tonnes*km or 0.3%.

Petroleum products delivery for three months ending 31 March 2017 amounted to 8.1 mln tonnes, down 0.3 million tonnes or 3.6% y-o-y.

The Group’s revenue grew by RUB 15.1 bln or 7.4%, mainly due to higher revenues from crude oil transportation and sale services.

Operating expenses (exclusive of oil export and depreciation of assets) rose RUB 1.2 bln or 1.7% relative to inflated operating expenses for a similar period last year, which is mainly caused by growing expenses on new pipelines commissioned.

Group’s EBITDA grew by RUB 3.3 bln or 3.0%, mainly due growing revenues from crude oil and petroleum products transportation. The Debt / EBIDTA indicator went down from 1.7 to 1.6 for three months ending 31 March 2017.

For the detailed analysis of the financial standing and results of the Group’s activities as well as the consolidated interim condensed financial statements by IFRS for three months ending 31 March 2017 see here and here.

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