Transneft increased remuneration to key management personnel in 2024. This is stated in the company's report.
The members of the Board of Directors and the Management Board of PJSC Transneft, as well as the general directors of subsidiaries, who are the most significant in the implementation of the Group's production activities, are recognized as key management personnel whose information on payments is disclosed in the consolidated financial statements.
Short—term rewards increased to 2.24 billion rubles. 2.152 billion rubles, long-term rewards - to 189 million rubles from 158 million rubles.
Short-term remuneration paid to key management personnel includes payments determined by the terms of employment contracts in connection with the performance of their official duties, and includes remuneration for the relevant reporting period, annual paid leave, remuneration based on the results of work for the previous reporting year, and other payments. Remuneration to the members of the Board of Directors is determined by the annual meeting of shareholders.
Long-term remuneration includes payments (contributions) representing the present value of future pension payments in accordance with the terms of non-state pension contracts concluded in favor of key management personnel in connection with the employees reaching retirement age. These payments will be made after the onset of the right to receive a pension in accordance with the established rules of the Fund.
The total number of people who received payments as key management personnel and their family members for the year ended December 31, 2024 was 60 (for the year ended December 31, 2023 — 66 people).
PJSC Transneft (TIN 7706061801) holds a monopoly position in the oil export market by pipeline. The Transneft Group has the largest oil pipeline system in the world.
The net profit of PJSC Transneft according to RAS for 9 months of 2024 fell by 49.1% to 97 billion rubles from 190.6 billion rubles a year earlier. Revenue increased by 6.7% to 943.2 billion rubles from 884 billion rubles, gross profit decreased by 1.1% to 105.1 billion rubles from 106.3 billion rubles, profit before tax — by 51.3% to 115.1 billion rubles from 236.4 billion rubles.
The profit to Transneft shareholders in 2024 amounted to 288 billion rubles, a decrease of 5% compared to the previous year. The group's revenue increased by 7% to RUB 1.424 trillion. Earnings before interest, income tax, depreciation and impairment (EBITDA) decreased to RUB 545 billion.
