Key financial indicators (IFRS)
| Item | 2015 | 2016 | 2017 | 2018 | 2019 | ∆ 2019/2018, % |
|---|---|---|---|---|---|---|
| RevenueStarting from 1 January 2018, the Group has been applying IFRS 15 Revenue from Contracts with Customers | ||||||
| Crude oil, gas and petroleum products sales | 1,581,777 | 1,637,553 | 1,870,790 | 2,418,717 | 2,393,444 | (1.0) |
| Less: export duties and sales related excise | (187,832) | (150,156) | – | – | – | – |
| Other revenue | 73,998 | 58,211 | 63,799 | 70,575 | 91,864 | 30.2 |
| Total revenue from sales | 1,467,943 | 1,545,608 | 1,934,589 | 2,489,292 | 2,485,308 | (0.2) |
| Costs and other deductions | ||||||
| Purchases of oil, gas and petroleum products | (345,909) | (351,294) | (456,037) | (617,306) | (663,068) | 7.4 |
| Production and manufacturing expenses | (214,267) | (201,862) | (216,530) | (228,618) | (260,688) | 14.0 |
| Selling, general and administrative expenses | (100,176) | (108,981) | (106,629) | (114,882) | (125,592) | 9.3 |
| Transportation expenses | (133,320) | (132,984) | (141,982) | (147,182) | (143,474) | (2.5) |
| Depreciation, depletion and amortisation | (114,083) | (129,845) | (140,998) | (175,451) | (181,372) | 3.4 |
| Taxes other than income tax | (353,145) | (381,131) | (492,269) | (652,784) | (591,193) | (9.4) |
| Export duties | – | – | (76,658) | (94,916) | (71,601) | (24.6) |
| Exploration expenses | (922) | (1,195) | (963) | (1,411) | (1,752) | 24.2 |
| Total operating expenses | (1,261,822) | (1,307,292) | (1,632,066) | (2,032,550) | (2,038,740) | 0.3 |
| Operating profit | 206,121 | 238,316 | 302,523 | 456,742 | 446,568 | (2.2) |
| Share of profit of associates and joint ventures | 24,956 | 34,116 | 45,504 | 90,704 | 83,906 | (7.5) |
| Net foreign exchange gain/(loss) | (67,910) | 28,300 | (241) | (33,558) | 10,518 | – |
| Finance income | 14,732 | 11,071 | 10,098 | 7,506 | 22,906 | > 200 |
| Finance expense | (33,943) | (34,282) | (25,127) | (21,476) | (32,772) | 52.6 |
| Other loss, net | 1,494 | (17,982) | (7,557) | (19,796) | (23,292) | 17.7 |
| Total other income | (60,671) | 21,223 | 22,677 | 23,380 | 61,266 | 162.0 |
| Profit before income tax | 145,450 | 259,539 | 325,200 | 480,122 | 507,834 | 5.8 |
| Current income tax expense | (38,026) | (21,290) | (43,695) | (59,585) | (52,502) | (11.9) |
| Deferred income tax benefit/(expense) | 8,774 | (28,524) | (11,827) | (19,544) | (33,244) | 70.1 |
| Total income tax expense | (29,252) | (49,814) | (55,522) | (79,129) | (85,746) | 8.4 |
| Profit for the period | 116,198 | 209,725 | 269,678 | 400,993 | 422,088 | 5.3 |
| | (6,537) | (9,546) | (16,404) | (24,326) | (21,887) | (10.0) |
| Profit attributable to Gazprom Neft | 109,661 | 200,179 | 253,274 | 376,667 | 400,201 | 6.2 |
In 2019, Gazprom Neft’s financial performance was stable. The company’s revenue totalled ₽2.49 trillion, a slight decrease of 0.2% year on year. The negative price trend on the oil market was offset by growth in sales volumes.
At the same time, the company’s net profit went up by 5.3% to a record amount of ₽422.1 billion thanks to the strengthening of the rouble and a positive impact of net financial income (expense).