29 Apr 2019 14:34

Gazprom's profit, EBITDA in Q4 exceeded forecasts

MOSCOW. April 29 (Interfax) - Gazprom's net profit in Q4 2018 grew 131% to 439.02 billion rubles, according to the company's report to International Financial Reporting Standards (IFRS).

This figure is higher than the average market forecast (Interfax's consensus forecast was 355 billion rubles), as well as that of every market player. The forecast of Gazprombank was the most accurate.

Revenue grew 22% to 2.323 trillion rubles (forecast: 2.313 trillion).

EBITDA grew 111% to 716.933 billion rubles (forecast: 653 billion).

Losses due to exchange-rate effects totaled 97.851 billion rubles. On average, the market expected a 95-billion-ruble loss.

Free cash flow went negative for the quarter, to -256.84 billion rubles, and was -22.09 billion for the year. However, these figures need to be adjusted by the amounts that funds in deposits changed.

With this adjustment made, free cash flow could be about 118 billion rubles for the quarter and 446 billion for the year. The company will publish precise adjusted figures in a presentation ahead of a conference call on Monday evening.