29 Aug 2014 18:33

Surgutneftegas sees IFRS net profit fall 19% in H1 to 134 bln rubles

MOSCOW. Aug 29 (Interfax) - Surgutneftegas saw net profit to International Financial Reporting Standards (IFRS) fall 19% year-on-year in the first half of 2014 to 134.077 billion rubles, the company said in a report.

Revenue advanced 20% to 470.12 billion rubles.

Earnings before taxes, depreciation, and amortization (EBITDA) increased 14% to 139.488 billion rubles.

Revenue from exchange rate differences resulting from the devaluation of the ruble were down 61.5% at 29.7 billion rubles, which drove down net profit.

Free cash flow was 49.642 billion rubles versus 22.686 billion rubles the year before.