Net profit of PAO NOVATEK for 9M’2021 increased 11.5 times
The company’s revenue increased 1.6 times
PAO NOVATEK has released its consolidated interim condensed financial statements as of and for the nine months ended 30 September 2021 prepared in accordance with International Financial Reporting Standards (“IFRS”).
Profit attributable to shareholders of PAO NOVATEK increased to RR 277.3 billion (RR 92.36 per share) in the nine months 2021 as compared to RR 24.1 billion in the corresponding period in 2020.
In the nine months ended 30 September 2021, the company’s total revenues and Normalized EBITDA, including the share in EBITDA of joint ventures, amounted to RR 785.7 billion and RR 488.9 billion, respectively, representing increases of 59.6% and 83.9%, as compared to the corresponding period in 2020.
Normalized profit attributable to shareholders of PAO NOVATEK totaled RR 269.7 billion (RR 89.81 per share) in the nine months 2021, representing an increase of 2.4 times as compared to the corresponding period in 2020.
PAO NOVATEK is the largest independent natural gas producer in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. The Company’s upstream activities are concentrated mainly in the prolific Yamal-Nenets Autonomous Region, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation. The Company’s shares are listed in Russia on Moscow Exchange (MOEX) and the London Stock Exchange (LSE) under the ticker symbol “NVTK”.
