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Gazprom's Profit Reduced
August 12, 2016 14:43


The profit of “Gazprom” decreased by 19 times in the second quarter of 2016, as compared to the second quarter of 2015 - from 137 to 7.2 billion roubles. This is confirmed by the calculations of the experts of “Interfax” on the basis of the company’s data.

The company’s profit for the first half of 2016 by Russian Accounting Standards (RAS) amounted to 194.4 billion roubles, which is 31 percent less than the result for January-June 2015. The official report on the results of work in the second quarter of 2016 will be released by “Gazprom” in mid-August. But even now the “SPARK-Interfax” system has published a report of the enterprise concerning the value of the issuer’s net assets as of 30 June 2016 - 9.33 trillion roubles after 9.51 trillion roubles as of March 31, 2016, which means that it decreased by 179 billion roubles during the second quarter.

The amount of increase in the value of assets for the quarter (an amendment of 187 billion roubles is applied to the second quarter – it concerns the obligation of dividends payment) exactly corresponds to the size of the net profit for the period, as the agency explained. The net profit of “Gazprom” amounted to about 187.2 billion roubles in the first quarter of 2016. In early July the analysts of Renaissance Capital predicted that “Gazprom” would have negative results. According to them, the company may get a negative free cash flow totaling $ 6.7 billion in 2016-2018, reduce the investment program, as well as record the worst profit dynamics in the industry.


Author: Anna Dorozhkina

Tags: Gazprom     

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