Rosneft says 2021 IFRS net profit hits record of 883 bln rbl

MOSCOW, Feb 11 (PRIME) -- The net profit of Russian oil major Rosneft has hit a record of 883 billion rubles in 2021, jumping from 132 billion rubles in 2020, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Friday.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) almost doubled on the year to a historic record of 2.33 trillion rubles, the company said.

Net financial debt of the company shrank by U.S. $5.5 billion in the period, with the net debt to EBITDA ratio almost halving to 1.3x, the company said.

Free cash flow of Rosneft jumped by around 150% to 1.044 trillion rubles in 2021, and capital expenditures gained 33.6% to 1.049 trillion rubles.

The company also said quoting CEO Igor Sechin that the record net profit and compliance with the dividend policy would ensure payment of record dividends for 2021 in line with the company’s strategy, under which it is to increase of dividend payments and the yield on shares.

For further details, see the company’s statement on its official website:

https://www.rosneft.com/press/releases/item/209435/

(74.7241 rubles – U.S. $1)

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