net profit of Gazprom IFRS in the I quarter of 2009 fell compared to the same period in 2008 in 2,6 times - up to 103.679 billion rubles, the company said.
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net profit was significantly above the average market expectations (79.6 billion rubles). Of the 16 analysts who participated in drafting the consensus forecast, closest to the final indicator, the second consecutive reporting period was forecast VTB Capital (104,8 billion rubles).
Revenues increased by 2% - up to 931.403 billion rubles from 911.750 billion rubles for the I quarter of 2008 (revised figure - former figure 902.944 billion rubles). The consensus forecast was significantly lower than the reporting - 872 billion rubles.
EBITDA decreased by 20% - up to 337.073 billion rubles - well above the forecast (304 billion rubles).
Net loss on exchange rate differences amounted to 140.37 billion rubles ($ 4.1 billion). Calculating the exact size of the indicator, which directly affects the calculation of net income, is for analysts difficult. Versions of experts ranged from 100 billion rubles ($ 2.9 billion) - Renaissance Capital to $ 5.2 billion - Troika Dialog.
Revenue from gas sales increased by 14% - up to 676.467 billion rubles due to price increases across all geographic segments. Revenue from gas sales in Europe increased by 28% due to higher average realized prices, denominated in rubles by 55% (in dollar terms increased by 10% - to $ 380 per thousand cubic meters), which was offset by lower sales volumes of gas by 31% - up to 37.1 billion cubic meters.
Proceeds from the sale of gas in the former Soviet Union increased by 2% due to price increases that were offset by lower sales volumes by 61%. Revenue from gas sales in Russia fell by 9%, which is attributable to lower realized gas volumes by 11%, which was offset by an increase in average selling price of gas in the domestic market as determined by the FTS.
Operating expenses rose by 19% (103 billion rubles) - up to 649 billion rubles due to higher costs for the purchase of the appreciated of Central Asian gas (at 179 billion rubles). In this case the cost of purchasing crude oil prices fell 36%, reduced the costs of taxes other than income tax on wages and other expenses.
Net debt increased by 17% - up to 1.19131 trillion rubles. due to the revaluation of foreign currency loans.
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