NOVATEK could up Q3 IFRS profit 1.5% - analysts
MOSCOW. Nov 11 (Interfax) - Gas producer NOVATEK could raise net profit to International Financial Reporting Standards (IFRS) 1.5% in Q3 2009 compared with Q2 2009 and 28.2% year-on-year to 7.285 billion rubles, analysts from 13 investment banks and companies said in a consensus forecast.
Higher gas prices and lower costs for transporting gas to consumers a long distance from NOVATEK's fields will have driven the increased profit.
The analysts said sales revenue could fall 4% quarter-on-quarter and 8.6% year-on-year to 22.233 billion rubles, and EBITDA could grow 3.6% and 0.4%, respectively to 9.667 billion rubles.
Consensus forecast for NOVATEK (mln rubles):
|Bank/company||Q3 revenue||Q3 EBITDA||Q3 net profit|
|Metropol||22 050||9 618||7 181|
|Q3 2009/Q2 2009||-4.0%||3.6%||1.5%|
|Q3 2009/Q3 2008||8.6%||0.4%||28.2%|
NOVATEK will publish the Q3 earnings report on November 13. It is expected to give a conference call at a date yet to be scheduled next week.