Annual profit of “Gazprom” has fallen seven times, the remuneration of top management have doubled – Vedomosti

In 2014, the net profit of “Gazprom” under IFRS amounted to 157.192 billion rubles. against 1.165 trillion rubles. a year earlier, to the report of the company. Net income attributable to shareholders of “Gazprom” amounted to 159 billion rubles., Which is seven times less than last year. Annual sales of the company grew by 6.47% to 5.589 trillion rubles. Adjusted EBITDA decreased by 2.3% to 1.96 trillion rubles.

At the end of 2014 net debt, “Gazprom” has increased by 48% to 1.6 trillion rubles. against 1.12 trillion rubles. a year earlier. “The reasons for increasing the value of this indicator are linked c growth rate of the US dollar and the euro against the Russian ruble, which was partially offset by an increase in cash and cash equivalents”, – the report says the company.

The net exchange loss under IFRS for the year increased by 7.4 times to 1.07 trillion rubles. The company links the growth of this indicator with the growth of the dollar against the ruble by 72% and the euro by 52% in 2014 against the rise in the dollar in 2013 to 8% and the euro by 12%. “This has led to an increase in liabilities denominated in foreign currency”, – the report says.

In the IV quarter loss under IFRS amounted to 397.25 billion rubles. while the consensus forecast polled by “Interfax” analysts at the level of 224 billion rubles. loss. Quarterly revenue of “Gazprom” was 1.582289 trillion rubles. the forecast of 1.513 trillion rubles., EBITDA fell to 438.893 billion rubles. (The forecast – 594 billion rubles.). Free cash flow (FCF) “Gazprom” in the IV quarter amounted to 104.314 billion rubles., Remaining in positive territory the ninth consecutive quarter.

Cash “Gazprom” and cash equivalents for the year rose to 1.038 trillion rubles. to 689 billion rubles.

In 2014, the amount of short-term remuneration of directors and the board of “Gazprom” has increased almost two times compared to 2013 and amounted to 4.393 billion rubles. According to “Interfax”, it says in the annual report under IFRS. In 2013, the remuneration of top management of “Gazprom” has sent 2.261 billion rubles.

The proven and probable reserves of “Gazprom” on the international PRMS standards in 2014 increased by 0.9% and amounted to 155.6 billion barrels of oil equivalent, according to “Prime”. Proved and probable reserves of gas increased by 1.1% to 23.5 trillion cubic meters of gas condensate – by 2% to 848.61 million tons, oil – fell by 2.3%, amounting to 1.374 billion tonnes.