IFRS FINANCIAL AND OPERATING RESULTS FOR FIRST QUARTER 2013
IFRS FINANCIAL AND OPERATING RESULTS FOR FIRST QUARTER 2013
IFRS FINANCIAL AND OPERATING RESULTS FOR FIRST QUARTER 2013
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HIGHLIGHTS<br />
*Including GPN share in EBITDA of associates and joint ventures<br />
<strong>IFRS</strong> <strong>FINANCIAL</strong> <strong>AND</strong> <strong>OPERATING</strong> <strong>RESULTS</strong> <strong>FOR</strong> <strong>FIRST</strong> <strong>QUARTER</strong> <strong>2013</strong><br />
1Q <strong>2013</strong> Financial performance:<br />
Revenue: RUB 292 bln (4.8% Y-o-Y) Higher oil product prices,<br />
increased hydrocarbon production and refining throughput resulted in<br />
4.8% higher revenue<br />
EBITDA*: RUB 77 bln (-3.2% Y-o-Y) Higher taxes and tariffs of<br />
natural monopolies led to a 3.2% decrease<br />
Net Income: RUB 40 bln (-18.2% Y-o-Y) The additional impact of<br />
foreign exchange losses led to an 18.2% decline in profit<br />
Operational progress in 1Q <strong>2013</strong>:<br />
Production up 3.1% Y-o-Y<br />
Refining volumes up 1.9% Y-o-Y<br />
Delivered first oil from Novoport and Messoyakha; produced first oil<br />
from the Yuzhno-Kinyaminskoye field<br />
Signed a memorandum with Shell to partner in the exploration and<br />
development of liquids-rich shale<br />
Completed drilling prospecting and appraisal well at the Bazhenov<br />
formation on the Krasnoleninskoye field (“shale oil”); appraisal well<br />
resulted in high flow rates<br />
Started new diesel hydrotreating unit at Yaroslavl, increasing Class 5<br />
diesel fuel production<br />
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