Transneft has published condensed consolidated interim financial statements, prepared in compliance with International Financial Reporting Standards (IFRS), for three months ending 31 March 2019 in the section “For Investors and Shareholders” of Transneft’s official website.
The Group’s key performance results for the reporting period
Crude oil delivery in the first quarter of 2019 amounted to 119.1 million tonnes, up 2.6 million tonnes or 2.2% year-on-year; oil turnover grew by 4.7 billion tonnes x km or 1.6% year-on-year.
The amount of petroleum products delivered to consignees in the first quarter of 2019 came to 9.7 million tonnes. The year-on-year reduction amounted to 0.2 million tonnes or 2.0%.
The key financial performance indicators of Transneft Group in the first quarter of 2019, as compared to the similar period last year, was largely influenced by inclusion of NCSP Group’s performance results in the consolidated data of Transneft Group in view of Transneft acquiring a majority interest in this company in September 2018.
The revenue of Transneft Group went up by RUB 34.9 billion or 15.5%, mainly due to the inclusion of NCSP Group’s performance indicators, growing revenues from oil transportation services and oil export.
Operating expenses (exclusive of oil export, depreciation and wear) have risen by RUB 1.5 billion or 1.8% relative to inflated operating expenses for the similar period of 2018, mainly due to the inclusion of NCSP Group’s indicators.
Transneft Group's EBITDA amounted to RUB 129.8 billion, up RUB 22.2 billion or 20.7% against the same period of 2018.
The Group’s income in the first quarter of 2019 grew by RUB 6.9 billion or 14.6% year-on-year to RUB 53.9 billion.
In February 2019, the Moody's International Rating Agency has increased the long-term rating of Transneft to “Baa2” (stable outlook).
For more detail of the Group’s financial standing and performance results as well as its condensed consolidated interim financial statements as per IFRS for the three months ending 31 March 2019, see here and here.