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Rosneft posts 47% rise in IFRS net profit for 2023

Revenue edged up by 1.3% in the reporting period to 9.163 trillion rubles ($99.9 bln)

MOSCOW, February 19. /TASS/. Net profit attributable to shareholders of Rosneft under International Financial Reporting Standards (IFRS) grew by 47% in 2023 to 1.267 trillion rubles ($13.8 bln) compared with 861 bln rubles ($9.4 bln at the current exchange rate) in the previous year, the company said, adding that net profit rose due to growth of EBITDA and the dynamics of non-monetary items.

Revenue edged up by 1.3% in the reporting period to 9.163 trillion rubles ($99.9 bln), EBITDA gained 17.8% to 3.005 trillion rubles ($32.7 bln). Capital expenditures rose by 14.6% to 1.297 trillion rubles ($14 bln).

Adjusted free cash flow climbed by 44.3% to 1.427 trillion rubles ($15.5 bln). Net debt/EBITDA ratio as of the end of 2023 equaled 0.9x (in dollar terms) compared to 1.3x as of the end of 2022.