Rosneft swings to 696 bln rbl IFRS net profit in January–September

MOSCOW, Nov 12 (PRIME) -- Russian oil major Rosneft has posted a record 696 billion ruble net profit attributable to the shareholders in January–September after a 177 billion ruble net loss in the same period of 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 1.654 trillion rubles in the period.

Capital expenditures of the company rose by 21.1% to 689 billion rubles, while free cash flow jumped by around 150% to 880 billion rubles.

Rosneft also reduced its financial debt by U.S. $8.4 billion in the period to XXX, with the ratio of net debt to EBITDA standing at 1.3x as of the end of September.

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

https://www.rosneft.com/press/releases/item/208379/

(71.1964 rubles – U.S. $1)

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