30 May 2019 12:21

Gazprom begins consolidating Gazstroyprom in IFRS, discloses 270 billion rubles in assets

MOSCOW. May 30 (Interfax) - Gazprom in Q1 2019 has begun consolidating JSC Gazstroyprom, a mysterious contractor created jointly with Gazprombank , in its reporting to International Financial Reporting Standards (IFRS).

As of March 31, 2019 the assets of the organization totaled 272.302 billion rubles, with liabilities standing at 271.799 billion rubles.

Gazstroyprom revenue in Q1 2019 totaled 14.564 billion rubles, with profits of 377 million rubles.

JSC Gazstroyprom was founded in 2018 and received the assets of the Stroygazconsulting group after they were cleansed of debt and judicial claims. In May 2018, contracts began to be transferred to it. It currently holds around 30 billion rubles' worth of new and transferred assets, according to material on the state procurement website.