Scroll to top

Transneft publishes 2017 Consolidated Financial Statements

Date of publication: 30 March 2018 Printable version

Transneft has released consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) for the year ended 31 December 2017. The results can be viewed on Transneft’s official website, “For Investors and Shareholders” section.

Key Figures of the Group’s Activities for 2017

Indicator

Unit

Year ended 31 Dec. 2017

Year ended 31 Dec. 2016

Change, %

Crude oil delivery

million tonnes

477.5

483.4

(1.2)

Oil freight turnover

bln tonne-km

1,211.2

1,219.1

(0.6)

Petroleum products delivery

million tonnes

33.1

33.1

-

Revenue

RUB bln

884.3

848.1

4.3

EBITDA*

RUB bln

408.7

408.8

(0.02)

Debt/EBITDA

Unit

1.7

1.7

X

Income for the period

RUB bln

191.8

232.9

(17.6)

*Purchase and sale of crude oil under contracts with Rosneft and China National Petroleum Corporation not included

A total of 477.5 million tonnes of crude oil were delivered to consignees in the year ended 31 December 2017 (-5.9 million tonnes or -1.2% y-o-y). Oil freight turnover dropped by 7.9 bln tonne-km (0.6% y-o-y).

Petroleum product deliveries in 2017 stood at 33.1 million tonnes, equal to last year’s level.

The Group’s revenues grew by RUB 36.2 billion (or 4.3%), mainly due to higher revenues from sale of crude oil transportation services, growing revenues from oil export and other earnings.

Operating expenses (taxes, oil export, depreciation and amortization not included) grew by 0.3% of inflated operating expenses y-o-y, which is mainly caused by a higher outlay on drag-reducing agents, repair and commissioning of new pipeline facilities.

The Group’s EBITDA stood at RUB 408.7 billion, which is equal to that of the previous year.

The income went down by RUB 41.1 billion or 17.6%, mainly due to currency exchange differences caused by the rouble to USD dynamics throughout 2017 year-on-year. The adjusted income for the period (factors unrelated to production activities not included) increased by RUB 12.3 billion or 6.1%.

During 2017, Transneft allocated RUB 58.2 billion for dividends, including RUB 27.6 billion for interim dividends paid on the basis of 1H 2017 performance.

The Group’s Consolidated financial statements prepared in accordance with IFRS for the year ended on 31 December 2017 and analysis of its financial standing and performance can be found here and here.

Transneft Press Service
Transneft Sitemap RSS