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Gazprom posts lower 9M net profit

February 15, 2008 | RBC

Gazprom's net profit under IFRS slid 1.25 percent to RUB 454.49bn (approx. USD 18.45bn) in the first nine months of 2007, the Russian energy holding's press office reported today. Sales revenue increased 5 percent to nearly RUB 1.661 trillion (approx. USD 67.41bn), while operating expenditures climbed 15 percent to around RUB 1.163 (approx. USD 47.2bn). The rise can be attributed to higher costs of purchasing oil and gas, which accounted for 55 percent of the total rise in operating expenditures. Pretax profit went down 1.76 percent to RUB 611.573bn (approx. USD 24.82bn).

Net revenue from natural gas sales rose 5 percent to RUB 1.62bn (approx. USD 65.75bn), due to an increase in prices on gas sold to former USSR republics and Russia's consumers. Meanwhile, net revenue fro sales of crude oil and gas condensate dropped 16 percent to RUB 117.956bn (approx. USD 4.79bn).

Gazprom's debt shrank 28 percent and amounted to RUB 583.435bn (approx. USD 23.68bn) as of September 30, 2007.

Company: Gazprom

Full company nameGazprom LLC
Country of riskRussia
Country of registrationRussia
IndustryOil and gas

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