UPDATE2: Rosneft IFRS net profit rises 9.1% to 325 bln rbl in Jan–Jun

(Adds details in paragraph 8)

MOSCOW, Aug 21 (PRIME) -- The net profit attributable to shareholders of Russian oil major Rosneft rose 9.1% on the year to 325 billion rubles in January–June, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on Wednesday.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 11.9% to 1.063 trillion rubles.

Free cash flow decreased 8.5% to 332 billion rubles in the period.

Capital expenditures fell 3.5% to 436 billion rubles.

In April–June, the company’s net profit increased 48.1% on the quarter to 194 billion rubles, while EBITDA fell 6% to 515 billion rubles.

Rosneft said it reduced the total volume of its financial debt and trade liabilities by over 800 billion rubles, or by 14%, since the beginning of the year.

Net debt and trade liabilities decreased by 157 billion rubles in the period. Net debt/EBITDA ratio stood at 1.3 as of June 30.

In dollar terms, Rosneft’s net debt rose to U.S. $45.7 billion as of the end of June from $41.1 billion as of late 2018, the company said in a presentation. The net debt/EBITDA ratio stood at 1.4. EBITDA grew 2.5% on the year to $16.3 billion in January–June and fell 3.6% to $8 billion in April–June.

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

https://www.rosneft.com/upload/site2/document_cons_report/IFRS_ENG_2Q2019.pdf

(66.7840 rubles – U.S. $1)

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