30 Nov 2017 10:53

Gazprom IFRS profit, EBITDA beat forecast in Q3

MOSCOW. Nov 30 (Interfax) - Gazprom's net profit to IFRS surged 96% year-on-year to 200.488 billion rubles in the third quarter of 2017, the Russian gas giant reported.

The profit figure was higher than the average market forecast of 183 billion rubles. The most accurate forecast was made by Aton.

Gazprom's revenue grew by 14% to 1.432 trillion rubles and EBITDA rose by 20% to 356.612 billion rubles, beating the forecasts of respectively 1.424 trillion rubles and 339 billion rubles.

The company's free cash flow was negative 170.075 billion rubles in the third quarter, which was worse than any expectations.

Exchange rate gains totalled 10.633 billion rubles, which was in line with the lower end of bank forecasts.

The company's net debt grew to 2.639 trillion rubles at the end of the third quarter from 2.292 trillion rubles at the start of the quarter.