29 Aug 2016 18:15

Surgutneftegas swings to H1 IFRS net loss of 103.8 bln rubles

MOSCOW. Aug 29 (Interfax) - Surgutneftegas had net losses of 103.8 billion rubles to International Financial Reporting Standards (IFRS) in H1 2016, compared with profit of 134.9 billion rubles a year previously, the oil company said in a report.

Sales revenue fell 16.6% year-on-year to 561.7 billion rubles and earnings before taxes, depreciation and amortization (EBITDA) fell 8.6% to 166 billion rubles.

Surgutneftegas had 2.234 trillion rubles on deposits as of June 30, down from 2.467 trillion rubles at the end of last year.

Cash and cash equivalents fell from 105.696 billion rubles during the half to 86.367 billion rubles.