Rosneftegas undistributed net profit tops 500 bln rubles in 2018 - SPARK-Interfax
MOSCOW. Aug 1 (Interfax) - State holding Rosneftegas, which accumulates dividends from equity stakes in Rosneft , Gazprom , and Inter RAO , posted undistributed profit of over 500 billion rubles, data from the SPARK-Interfax system suggests.
In 2018, the holding recognized 178 billion rubles of net profit to Russian Accounting Standards (RAS): it was composed of 143 billion rubles in revenue, principally in the form of dividends from share stakes, 14 billion rubles in interest earnings, 48 billion rubles in other income minus 9 billion rubles in profit taxes.
In the course of 2018, Rosneftegas paid 65 billion rubles in dividends, meaning that undistributed profit grew from 394 billion rubles as of the end of 2017 to 505 billion rubles today.
The sum of "short-term financial investments" and "cash and cash equivalents", which can be used to make assumption about the volume of Rosneftegas' accumulated funds, totaled 430 billion rubles as of the end of 2018 compared to 311 billion rubles in the previous year. Once in the history of the company, at the end of 2015, undistributed profit was higher at 555 billion rubles.
The ratio of interest earnings in the year (14 billion rubles) to the sum of short-term financial investments and cash was 3%, as in 2017, which demonstrates the monetary nature of the bulk of these deposited funds.
Rosneftegas holds an 11% stake in Gazprom, a 27.6% stake in Inter RAO, and a stake of 50% plus one share in Rosneft.