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 |
| Renaissance Capital | 22840 | 9950 | 7168 |
| J.P.Morgan | 21217 | 9364 | 7140 |
| Bernstein Research | 22624 | 10119 | 7704 |
| Troika Dialog | 22917 | 9750 | 7649 |
| Deutsche Bank | 21804 | 9800 | 7067 |
| Nomura | 23756 | 9433 | 6801 |
| Uralsib | 21430 | 9400 | 7190 |
| Goldman Sachs | 21953 | 9853 | 7365 |
| Otkritie | 22032 | 8775 | 7240 |
| VTB Capital | 21924 | 9866 | 7298 |
| UniCredit | 22246 | 10078 | 7613 |
| Metropol | 22 050 | 9 618 | 7 181 |
| Consensus | 22233 | 9667 | 7285 |
| Q2 2009 | 23148 | 9334 | 7178 |
| Q3 2008 | 20463 | 9633 | 5682 |
| 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.