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Preliminary Financial Results for 2019

Date of publication: 17 January 2020 Printable version

Transneft showed stable financial performance at the end of 2019: for the first time, the Company’s anticipated consolidated revenues for 2019 exceeded RUB 1 trillion.

After the ESPO extension was completed in November 2019 with ESPO-1 reaching the delivery capacity of 80 MTPA and ESPO-2 – 50 MTPA, the main bulk of capital investments in the amount of RUB 246.5 billion will now be used to perform the technical upgrading and revamping of pipeline infrastructural facilities. Until 2024 the plan calls for the replacement of ca. 5,000 km of the pipeline, based on the recent inspection results.

In 2020 the Company plans exchange bond redemption totalling RUB 45 billion and the repayment of NCSP bank loans to the tune of USD 200 million, to maintain a moderate debt burden and credit ratings at the level not lower than the sovereign rating.

Dynamics of dividends accrued for the respective period as the share of normalised net profit of Transneft by IFRS, RUB bln.

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