Gazprom Group's net profit for 2024 under IFRS amounted to 1.219 trillion rubles against a loss of 629.08 billion rubles in 2023. This was announced by the company.
As noted by Gazprom's Deputy Chairman of the Management Board, Famil Sadygov, whose words are quoted in the message, net profit was significantly supported by a decrease in negative exchange differences on foreign currency obligations, as well as an increase in interest income from the placement of funds, which offset the increase in interest expenses.
Net profit, adjusted for non-monetary items, amounted to 1.433 trillion rubles, which is 2 times higher than in 2023. Gazprom Group's revenue increased by 25% to RUB 10.7 trillion. Capital investments were reduced by 3% to 2.4 trillion rubles.
EBITDA increased by 76% to RUB 3.1 trillion. "This is the third largest result in the group's history – Gazprom showed higher figures only in 2021-2022, when prices on the European gas market rose to unprecedented levels. The largest contribution in 2024 was made by the gas business, while other segments also provided consistently high results," noted F.Sadigov, quoted in the message.
F.Sadygov added that in 2024, the repayment volume of the group's debt exceeded the volume of attraction by 116 billion rubles, which smoothed out the negative effect of the currency revaluation of the debt portfolio against the background of rising foreign exchange rates. As a result, the Gazprom Group's total debt has been maintained at approximately the level of 2023 (6.7 trillion rubles).
Short-term remuneration of key management personnel (members of the Board of Directors and the Management Board of Gazprom PJSC), including salaries, bonuses and remuneration for participation in the management bodies of the group's organizations, amounted to RUB 4.759 billion and RUB 3.945 billion for the years ended December 31, 2024 and December 31, 2023, respectively. Members of the Board of Directors who hold government positions in the Russian Federation and civil service positions do not receive remuneration from the group.
The Annual Meeting of Shareholders decided not to declare or pay dividends based on the results of Gazprom's operations for 2023. According to the decision of the annual shareholders' meeting, no dividends were declared or paid based on the results of the work for 2022. For the first half of 2022, interim dividends were accrued and paid in the amount of 51.03 rubles per ordinary share.
In March 2024, the group acquired a 27.5% stake in Sakhalin Energy LLC for 94.8 billion rubles. The payment was made in cash. The transaction was completed in accordance with the order of the Government of the Russian Federation. As a result of the transaction, the group's share in the authorized capital of Sakhalin Energy LLC increased to 77.5%, and the group gained control over the activities of Sakhalin Energy LLC.
The group's perimeter, which is taken into account in the preparation of these consolidated financial statements, includes about 400 subsidiaries. The Group's activities are divided into four operating segments: the gas business (includes all of the group's organizations, with the exception of those in the oil business, the electric power business, and the media business); the oil business (mainly includes PJSC Gazprom Neft and its subsidiaries); and the electric power business (includes PJSC MOEK, PJSC MosenergoOGK-2 PJSC, TGK-1 PJSC and their subsidiaries); media business (includes Gazprom-Media Holding JSC and its subsidiaries).
Gazprom (TIN 7736050003) is the world's largest natural gas company.
The Russian Federation, being the party with ultimate control, has a controlling stake (including direct and indirect ownership) of over 50% in Gazprom PJSC. The state directly owns 38.373% of the issued shares of Gazprom PJSC as of December 31, 2024. JSC ROSNEFTEGAZ and JSC Rosgazification, which are controlled by the state, own 11.859% of the issued shares of PJSC Gazprom.
Gazprom's net profit under IFRS for the first 9 months of 2024 amounted to 990 billion rubles, which is 2.8 times higher than in the same period of 2023. EBITDA increased by 23% to RUB 2.14 trillion. The profit from sales amounted to 1.42 trillion rubles. compared to 1 trillion rubles .
