Tatneft published its audited IFRS consolidated financial statements for the year ended December 31, 2018.
Almetyevsk. PJSC Tatneft (the “Company”) published on its web-site the audited consolidated financial statements for the year ended 31 December 2018 prepared in accordance with International Financial Reporting Standards (“IFRS”) and the related Directors’ report, incorporating Management Discussion and Analysis of Results of Operations (the “MD&A”).
Selected financial highlights below are based on the respective IFRS financial statements of the Company. These highlights do not replace the Financial Statements or the MD&A and all interested persons are encouraged to read these documents for full understanding of 2018 IFRS results. Russian Ruble amounts below have been translated into U.S. Dollars, for sales and other operating revenues and net profit at the average exchange rate during the respective reporting period and for items of Statements of Financial Position at the exchange rate on the last date of the respective reporting period.
In 2018 Tatneft Group produced 29.5 million tonnes (210.4 MMbbl) of crude oil and 925.3 million cubic meters of gas. TANECO refinery output in 2018 was 8.7 million tonnes of refined products.
The Company’s consolidated sales and other operating revenues on non-banking activities net of export duties and excise taxes in 2018 were 910,534 million Rubles (US$ 14,520 million) as compared to 681,159 million Rubles (US$ 11,674 million) in 2017. The consolidated profit attributable to Group shareholders in 2018 was 211,812 million Rubles (US$ 3,378 million) as compared to 123,139 million Rubles (US$ 2,110 million) in 2017.
The Company’s BITDA (a non-IFRS financial measure) for 2018 was 294,010 million Rubles (US$ 4,688 million); however, the Company’s EBITDA adjusted for exceptional items was 314,839 million Rubles (US$ 5,021 million).
Total consolidated assets of the Company increased from 1,107,454 million Rubles (US$ 19,227 million) as of 31 December 2017, to 1,201,288 million Rubles (decreased in US dollar terms to US$ 17,292 million) as of 31 December 2018.
Total consolidated liabilities of the Company increased from 388,725 million Rubles (US$ 6,749 million) as of 31 December 2017, to 424,507 million Rubles (decreased in US dollar terms to US$ 6,111 million) as of 31 December 2018.
Total consolidated shareholders’ equity increased from 718,729 million Rubles (US$ 12,478 million) as of 31 December 2017, to 776,781 million Rubles (decreased in US dollar terms to US$ 11,182 million) as of 31 December 2018.
Forward-looking statements: This press-release contains certain statements about future events and expectations that are forward-looking in nature. Any statement in this press-release that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. PJSC Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.