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Gazprom H1 2019 profits up 33% more than for the same period of 2018

Gazprom H1 2019 profits up 33% more than for the same period of 2018 Gazprom H1 2019 profits up 33% more than for the same period of 2018


St. Petersburg, August 29 - Neftegaz.RU. Profit attributable to owners of Gazprom amounted to RUB 836,497 million for the 6 months 2019, which is by RUB 205,693 million, or 33%, more than for the same period of the prior year.

Sales increased by RUB 105,196 million, or 3%, to RUB 4,076,751 million for the 6 months  2019 compared to the same period of the prior year. The increase in sales was mainly due to an increase in sales of refined products, crude oil and sales of gas.

The company´s net sales of gas to Europe and other countries increased by RUB 22,286 million, or 2%, to RUB 1,433,591 million. The change was due to the increase in average prices denominated in the Russian RUB by 11% that was partially compensated by the decrease in volumes of gas sold by 8% or 10.6 bcm.

Net sales of gas to Former Soviet Union countries increased by RUB 12,714 million, or 8%, to RUB 179,738 million for the 6 months compared to 2018. Net sales of refined products increased by RUB 51,798 million, or 5%, to RUB 1,043,371 million.

Net sales of crude oil and gas condensate increased by RUB 37,291 million, or 11%, to RUB 382,947 million.

Net debt balance decreased by RUB 457,760 million, or 15%, from RUB 3,014,403 million as of December 31, 2018 to RUB 2,556,643 million as of June 30, 2019. This change was mainly due to an increase in cash and cash equivalents balances.