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Novatek´s profit and revenue increased in the Q3 due to higher gas prices

Novatek has reported that, in the 3rd quarter of 2017, its total revenue amounted to RUB 130.7 bln.

Novatek´s profit and revenue increased in the Q3 due to higher gas prices


Novatek reported on October 25, 2017, that in the 3rd quarter its total revenue amounted to RUB 130.7 billion.

For the Q3 the Russian natural gas producer made a profit of RUB 48 billion ($833.4 million) compared with RUB 44.2 billion in the same quarter a year earlier.

Normalized earnings (EBITDA), including its share in EBITDA of joint ventures, totalled RUB 59.3 billion, representing increases of 3.3% and 2.7%, respectively, as compared to the corresponding period in 2016.

In the 9 months of 2017, total revenue amounted to RUB 414.2 billion n and Normalized EBITDA, including its share in EBITDA of joint ventures, totalled RUB 183.5 billion, representing increases of 5.3% and 2.3%, respectively.

CEO of Novatek Leonid Mikhelson, said an increase in liquids and natural gas sales prices during the period offset the decline in its sales volumes.


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