MOSCOW, March 14. /TASS/. Gazprom Neft posts an increase in revenues by 3.2% year-on-year to 3.52 trillion rubles ($38.5 bln) in 2023, as calculated under the international financial reporting standards (IFRS), the company reported.
Net profit attributable to shareholders decreased by 14.7% year-on-year to 641 billion rubles ($7.01 bln).
Adjusted EBITDA amounted to 1.319 trillion rubles ($14.4 bln), which is 6.8% less than in 2022.
"The dynamics of the indicator are due to changes in macroeconomic parameters, an increase in tariffs of natural monopolies and an increase in the tax burden," the report says.
As Gazprom Neft CEO, Alexander Dyukov, said, in 2023 the company maintained high rates of development in all areas of its business, despite the volatility in global energy markets.
"We increased hydrocarbon production, completed a key stage in the modernization of the Omsk oil refinery, ensured refining volumes at our refineries in Russia at the level of the previous year, while increasing fuel production. Our company once again confirmed its ability to respond flexibly and effectively to any changes in the external background. Production progress ensured good financial results, which resulted into a significant increase in dividend payments," he noted.
The last time the company unveiled financial results under IFRS was for the first half of 2023, before that - for 2021. After that, Gazprom Neft took advantage of the Cabinet’s permission not to publish this data. By the end of the first half-year, the company reduced revenue by 14.6%, to 1.552 trillion rubles ($17 bln), and net profit by 40%, to 304.4 bln rubles ($3.35 bln).