LUKOIL announces IFRS financial results for 2020
PJSC LUKOIL has released its audited consolidated financial statements for 2020 prepared in accordance with the International Financial Reporting Standards (IFRS).
In 2020, the Company booked a profit in the amount of RUB 15.2 bln compared to RUB 640.2 bln profit in 2019.
The Company’s sales amounted to RUB 5,639.4 bln, down 28.1% year-on-year.
Sales dynamics was negatively affected by lower hydrocarbon prices, lower hydrocarbon production volumes, lower production and trading volumes of refined products as well as lower retail sales of refined products. These factors were partially offset by ruble devaluation to US dollar.
In 2020, EBITDA amounted to RUB 687.1 bln, down by 44.4% year-on-year.
PJSC LUKOIL is one of the largest publicly traded, vertically integrated oil and gas companies in the world in terms of proved hydrocarbon reserves and production; and the second largest producer of crude oil in Russia. Established in 1991, the Company currently operates in more than 30 countries with core upstream assets located in Russia. The full production cycle includes oil and gas exploration, production and refining; production of petrochemicals and lubricants; power generation; marketing and distribution providing LUKOIL with maximum synergies from its activities. The Company’s shares are listed in Russia on Moscow Exchange under the ticker “LKOH” and depositary receipts are listed on the London Stock Exchange under the ticker “LKOD”
