Profit attributable to LUKOIL shareholders for H1’21 totaled 347.2 bln
LUKOIL’s sales increased by 53.8%
PJSC "LUKOIL" released its condensed interim consolidated financial statements for the three and six month periods ended June 30, 2021 prepared in accordance with International Financial Reporting Standards (IFRS).
In the second quarter of 2021, profit attributable to PJSC LUKOIL shareholders amounted to RUB 189.8 bln, which is 20.5% higher quarter-on-quarter. As a result, for the first six months of 2021 profit was up to RUB 347.2 bln as compared to a loss of RUB 64.7 bln for the six months of 2020.
The company’s sales amounted to RUB 2,201.9 bln, up 17.3% quarter-on-quarter. The growth was mainly attributable to higher prices for crude oil and refined products, higher oil production and trading volumes, as well as higher refinery throughput volumes and retail sales volumes of refined products in Russia and internationally. These factors were partially offset by lower refined products trading volumes.
As compared to the six months of 2020, LUKOIL’s sales increased by 53.8% mainly due to higher hydrocarbon prices and ruble devaluation. The growth was constrained by lower oil production and refinery throughput volumes, as well as trading volumes.
In the second quarter of 2021, EBITDA increased by 8.1% quarter-on-quarter to RUB 339.8 bln.
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. 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".
