OAO Tatneft (the “Company”) published on its web-site (http://www.tatneft.ru/eng) the unaudited interim condensed consolidated financial statements for the three months ended 31 March 2013 prepared in accordance with International Financial Reporting Standards (“IFRS”) (the “Financial Statements”) and the related Management Discussion and Analysis of Results of Operations (the “MD&A”).
Selected financial highlights below are based on the respective IFRS financial statements of the Company. These highlights do not replace the Financial Statements or the MD&A and all interested persons are encouraged to read these documents for full understanding of first quarter 2013 IFRS results. Russian Ruble amounts below have been translated into U.S. Dollars, for sales and other operating revenues and net profit at the average exchange rate during the respective reporting period and for items of Statements of Financial Position at the exchange rate on the last day of the respective reporting period.
The Company’s consolidated revenues in the first quarter of 2013 were 106,554 million Rubles (US$ 3,504 million) as compared to 111,259 million Rubles (US$ 3,677 million) in the first quarter of 2012. The consolidated net profit attributable to Group shareholders in the first quarter of 2013 was 16,974 million Rubles (US$ 558 million) as compared to 27,365 million Rubles (US$ 904 million) in the first quarter of 2012.
Total consolidated assets of the Company increased from 630,607 million Rubles (US$ 20,762 million) as of 31 December 2012 to 641,636 million Rubles (decreased in US dollar terms to US$ 20,642 million) as of 31 March 2013.
Total consolidated liabilities of the Company decreased from 184,374 million Rubles (US$ 6,070 million) as of 31 December 2012 to 177,448 million Rubles (US$ 5,709 million) as of 31 March 2013.
Total consolidated shareholders’ equity increased from 446,233 million Rubles (US$ 14,692 million) as of 31 December 2012 to 464,188 million Rubles (US$ 14,934 million) as of 31 March 2013.
The Company’s representatives will discuss the IFRS financial highlights for the quarter ended 31 March 2013 on a conference call on 26 June 2013 at 16:00 Moscow time, 13:00 UK time.