News

30 May 2018

Gazprom demonstrates strong IFRS financial results for the 1st quarter of 2018

Gazprom PJSC issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (IAS 34) for the three months ended March 31, 2018.
Total sales (net of excise tax, VAT and customs duties) increased by RUB 323,030 million, or 18%, to RUB 2,138,331 million for the three months ended March 31, 2018 compared to the same period of the prior year. The increase in sales revenues was mainly due to an increase in sales of gas and refined products.

Net sales of gas to Europe and other countries increased by RUB 164,428 million, or 28%, to RUB 758,307 million for the three months ended March 31, 2018 compared to the same period of the prior year. The change was mainly due to the increase in average Russian Ruble prices (including excise tax and customs duties), by 17% and the increase in volumes of the gas sold by 9%, or 5.9 bcm.

Net sales of gas to Former Soviet Union countries increased by RUB 9,344 million, or 9%, to RUB 111,479 million for the three months ended March 31, 2018 compared to the same period of the prior year. The change was due to the increase in volumes of gas sold by 13%, or 1.6 bcm, that was partially compensated by the decrease in average Russian Ruble prices (including customs duties) by 3%.

Profit attributable to the owners of PJSC Gazprom for the three months ended March 31, 2018 totalled RUB 371,623 million which is by RUB 38,170 million, or 11%, more than for the same period of the prior year.

More information about Gazprom’s IFRS Q1 results available at Gazprom’s website.

Back to the list