Gazprom expects more than 30% EBITDA growth in 2011, higher profit
MOSCOW. Nov 9 (Interfax) - Gazprom expects earnings before taxes, depreciation and amortization (EBITDA) to rise more than 30% and that net profit will also increase in 2011, the gas giant said in a presentation.
Andrei Kruglov, the gas giant's deputy CEO and head of finance and economics, said during a conference call that robust growth in net profit and profit at the parent company would be sustained in 2011.
"EBITDA will grow more than 30%," he said, adding that the debt burden would be comfortable.
EBITDA in Q2 was 416.9 billion rubles, up from 289.6 billion rubles a year previously. Net profit attributable to shareholders was 303.7 billion rubles, up from 169.7 billion rubles a year previously. Gazprom boosted net profit 56% year-on-year in H1 2011 to 771.7 billion rubles.