Gazprom's 12-month IFRS net profit down 89% in 2020

AK&M 04 May 2021 16:33

IFRS net profit of PJSC Gazprom for 2020 attributable to company's shareholders decreased by 89% to RUB 135.34 billion from RUB 1.2 trillion a year earlier, according to the holding's financial statements.

Gazprom's revenue decreased by 17.5% to RUB 6.32 trillion. Net gas sales dropped by 19.8% to RUB 3.05 trillion.

PJSC Gazprom (tax number: 7736050003) is the world's biggest gas company. Its authorized capital is RUB 118.367 billion and consists of 23,673,512,900 common shares with a face value of 5 rubles. The company has several hundred thousand shareholders in Russia and abroad. The Russian Federation owns more than 50% of Gazprom's shares. The Bank of New York Mellon is the depositary of Gazprom's ADR program.

IFRS profit of Gazprom for 2019 dropped by 17% to RUB 1.269 trillion from RUB 1.529 trillion a year earlier. Profit attributable to shareholders of PJSC Gazprom amounted to RUB 1.203 trillion against RUB 1.456 trillion. Profit from sales decreased by 42% to RUB 1.12 trillion from RUB 1.93 trillion, pre-tax profit by 12.2% to RUB 1.627 trillion from RUB 1.852 trillion. Sales revenue (net of excise tax, VAT and customs duties) decreased by 7% to RUB 7.659 trillion. The lower sales revenue mainly results from a lower revenue from gas sales to Europe and other countries.