Gazprom Neft delivers net profit of more than ₽217 billion in H1 2021, up 26 times YoY
The company’s revenue increased by 46.6%, year-on-year
Gazprom Neft today announces its consolidated IFRS financial results for the first six months (H1) and second quarter (Q2) of 2021.
According to the company’s statement, revenue for the first six months of 2021 was RUB1,338 trillion — a 46.6% increase year-on-year. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was up 138.8%, to ₽434.6 billion, supported by higher domestic petroleum product sales and an increase in prices of oil and petroleum products on the international and domestic markets. In H1 2021, net profit attributable to Gazprom Neft PJSC shareholders grew 26 times to ₽217.2 billion.
Alexander Dyukov, CEO and Chairman of the Management Board of Gazprom Neft, comments: “Gazprom Neft demonstrated significant growth across all key financial indicators in the first half of 2021, effectively exploiting every available market opportunity. We continue to implement our major investment projects and commission new assets across various segments of our business, while maintaining process continuity”.
Gazprom Neft is a vertically integrated oil company primarily engaged in oil and gas exploration and production, refining, and the production and sale of petroleum products.
