MOSCOW, August 29. /TASS/. Net profit of Gazprom under International Financial Reporting Standards (IFRS) attributable to shareholders amounted to 296.2 bln rubles ($3.09 bln) in 1H 2023 compared to 2.5 trillion rubles ($41.3 bln) in the same period last year, the company reported.

The decrease was mainly due to the influence of the exchange rate difference amid a decline of the ruble’s exchange rate in the reporting period by 24% against the dollar and by 26% against the euro, according to Deputy Chief Executive Famil Sadygov’s commentary.

Revenue totaled 4.11 trillion rubles. The company’s revenue from sales dropped 3.5-fold in 1H to 744.78 bln rubles, while revenue before tax amounted to 360.6 bln rubles compared to 3.24 trillion rubles in the previous year. 1H EBITDA of Gazprom Group equaled 1.228 trillion rubles, while EBITDA margin stood at 30%. Liquidity cushion exceeds 1.1 trillion rubles, which is higher than the company’s short-term liabilities, Sadygov noted.

Capital investment reached 1.188 trillion rubles in the reporting period. "Their growth compared with the same period last year is due to Gazprom Group’s strategic projects being actively implemented," Deputy Chief Executive explained.