The company´s adjusted net profit fell by 62 % to €195 million euros, the EBITDAX fell by 41 % to €1.64 billion.
Wintershall Dea reduced net debt to €5.5 billion with €2.2 billion of liquidity including €821 million of cash.
On the whole, the company´s investments expected to decrease: from €1.2 billion in the previous year to €1 - €1.1 billion in 2021.
Mario Mehren, Wintershall Dea CEO, said:
- 2020 was undoubtedly a difficult year for everybody and I’m proud of the way that Wintershall Dea responded to the challenge
- We delivered our key targets for the year, including annual production of 623 mboe/d and exited the year with strong operational momentum and record production of more than 650 mboe/d in the 4th quarter
- Recognising that our industry needs to change – and that we want to be leading that change – in November we announced our energy transition pathway and targets.
- 2021 will certainly be a year with continued high levels of uncertainty as well as volatility, and while we remain cautious, we look forward to an exciting year
Wintershall Dea has been active in Russia for 30 years – in particular through its successful cooperation with Gazprom
The German company has activities in Western Siberia and Southern Russia with a combined production of 295 mboe/d and a 2P reserves base of 2,155 million boe.