Slavneft swings to RAS loss of 6.3 bln rubles in 2014
MOSCOW. Feb 18 (Interfax) - Russian oil company Slavneft , which is owned 50-50 by Gazprom Neft and Rosneft , swung to a net loss of 6.3 billion rubles in 2014 under Russian accounting standards compared with a net profit of 17.9 billion rubles in 2013, the company said in its earnings report.
The pretax loss was 8.9 billion rubles compared with a pretax profit of 17.474 billion rubles the year before. Earnings from participation in other organizations declined to 4.28 billion rubles from 19.9 billion rubles and other revenue fell by over half to 6.8 billion rubles.
However, revenue amounted to 10.33 billion rubles, which was on a par with the 10.47 billion rubles registered in 2013, as were costs: 8.5 billion rubles in 2014 compared with 8.38 billion rubles in 2013. Gross profit fell to 1.8 billion rubles in 2014 from 2 billion rubles.