11 May 2011 13:46

Gazprom Neft's US GAAP net profit up 60% in Q1 - consensus forecast

MOSCOW. May 11 (Interfax) - OJSC Gazprom Neft's US GAAP net profit, according to a consensus forecast, increased by 60% year-on-year to $1.198 billion in the first quarter of 2011.

According to analysts surveyed at 11 investment companies and banks by Interfax, the company's sales revenue increased by 35% year-on-year to $9.865 billion.

Gazprom Neft's EBITDA (excluding Gazprom Neft's share in the EBITDA of independent companies) is forecast at $1.898 billion (up 40%) in the first quarter. The EBITDA result including Gazprom Neft's interest in the result for independent companies went up by 33% to $2.104 billion.

Gazprom Neft will publish its US GAAP financial results for the first quarter of this year on May 12.