26/08/2016

Press-release: Tatneft published its IFRS consolidated interim condensed financial statements for the three and six months ended 30 June 2016

 

26 August 2016

PJSC Tatneft (the “Company”) announces today that it published on its web-site (http://www.tatneft.ru/?lang=en) the unaudited consolidated interim condensed financial statements (the “Financial Statements”) for the three and six months ended 30 June 2016 prepared in accordance with International Financial Reporting Standards (“IFRS”) and related 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 the Company’s results for the three and six months ended 30 June 2016. 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.

The Company’s consolidated sales and other operating revenues net of export duties and excise tax in the second quarter of 2016 were 146,863 million Rubles (US$ 2,229 million) as compared to 144,450 million Rubles (US$ 2,744 million) in the corresponding period of 2015. In the six months of 2016 our consolidated sales and other operating revenues net of export duties and excise tax were 267,844 million Rubles (US$ 3,812 million) as compared to 279,511 million Rubles (US$ 4,870 million) in the six months of 2015. 

The consolidated profit attributable to Group shareholders in the second quarter of 2016 was 30,893 million Rubles (US$ 469 million) as compared to 29,462 million Rubles (US$ 560 million) in the second quarter of 2015. The consolidated profit attributable to Group shareholders in the six months of 2016 was 48,514 million Rubles (US$ 690 million) as compared to 56,031 million Rubles (US$ 976 million) in the corresponding period of 2015.

Total consolidated assets of the Company increased from 798,691 million Rubles (US$ 10,959 million) as of 31 December 2015 to 800,278 million Rubles (US$ 12,454 million) as of 30 June 2016.

Total consolidated liabilities of the Company increased from 141,033 million Rubles (US$ 1,935 million) as of 31 December 2015 to 157,194 million Rubles (US$ 2,446 million) as of 30 June 2016.

Total consolidated shareholders’ equity decreased from 657,658 million Rubles (US$ 9,024 million) as of 31 December 2015 to 643,084 million Rubles (increased in US dollar terms to US$ 10,008 million) as of 30 June 2016.

The Company’s representatives will discuss the IFRS financial highlights on a conference call, details of which will be announced separately.


Forward-looking statements: These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials 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.


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