Translation. Region: Russian Federation –
Source: NOVATEK – Novatec – An important disclaimer is at the bottom of this article.
NOVATEK announced its financial results for the first half of 2025.
Moscow, July 30, 2025. PAO NOVATEK today published its consolidated interim condensed financial statements as of and for the six months ended June 30, 2025.
Our revenue and normalized EBITDA, including our share of joint ventures' EBITDA, for the six months ended June 30, 2025 were RUB 804.3 billion and RUB 471.8 billion, respectively, an increase of 6.9% and a decrease of 1.8%, respectively, compared to the same period in 2024. Normalized profit attributable to shareholders of PJSC NOVATEK, excluding the effect of foreign exchange differences, was RUB 237.1 billion for the first half of 2025, a decrease of 17.0% compared to the first half of 2024.
Net cash generated by the Group's operating activities amounted to RUB 195.7 billion for the first six months of 2025, an increase of 7.3% compared to the same period in 2024. Cash used to pay for capital expenditures amounted to RUB 76.4 billion for the first half of 2025.
Key performance indicators (in millions of Russian rubles, unless otherwise stated)
|
1P 2025 |
1P 2024 |
|
|
Financial indicators |
||
|
Revenue from sales |
804 320 |
752 404 |
|
Operating expenses |
(628 438) |
(571 726) |
|
Normalized EBITDA |
471 806 |
480 652 |
|
Profit attributable to shareholders of PJSC NOVATEK |
225,697 |
341,677 |
|
Profit attributable to shareholders of PJSC NOVATEK, normalized excluding the effect of exchange rate differences |
237,057 |
285,580 |
|
Long-term assets |
3,170,716 |
3,033,107 |
|
Long-term liabilities |
359,999 |
459 192 |
|
Net debt |
108 379 |
139,807 |
|
Production volume |
||
|
Hydrocarbon production (million boe) |
337 |
331 |
|
Average daily production (million boe per day) |
1.86 |
1.82 |
|
Cash flow |
||
|
Net cash provided by operating activities |
195,689 |
182,434 |
|
Cash used to pay for capital investments |
76,439 |
122,047 |
The disclosed consolidated interim condensed financial statements of PJSC NOVATEK and notes thereto are available on the website of PJSC NOVATEK (www.novatek.ru).
NOVATEK PJSC is one of the largest independent natural gas producers in Russia. In 2017, the Company entered the international LNG market with the successful launch of the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing, and marketing of gas and liquid hydrocarbons. The fields and license areas of NOVATEK's subsidiaries and affiliates are located primarily in the Yamal-Nenets Autonomous Okrug, the world's largest natural gas producing region, accounting for approximately 80% of Russia's gas production and approximately 15% of global gas production. NOVATEK is a public joint-stock company established under the laws of the Russian Federation.
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