Udmurtneft

2019: The net profit of Udmurtneft for 2019 fell by 1.4 times

• But the company paid MET 2.9% more, than the previous year.
• JSC Udmurtneft in 2019 got net profit according to IFRS in 23.753 billion rubles that is 1.4 times less, than the 2018th.
• Proceeds from sales of oil decreased by 7.2% - to 141.716 billion rubles.
• Revenue from other implementation, on the contrary, grew by 5.6% - to 3.451 billion rubles.
• At the same time oil production by Udmurtneft, according to CDU TEK, decreased by only 134 thousand tons - up to 5.939 million tons. In 2018 this indicator was 6.073 million tons. Other operating income decreased in 2019 by 1.4 times, to 254.211 million rubles.
• Financial income decreased by 2.8 times, to 946 million rubles.
• Profit before taxation decreased by 1.4 times, to 29.854 billion rubles. Udmurtneft increased payments of a severance tax (MET) by 2.9% - to 72.52 billion rubles.
• Assets of Udmurtneft during 2019 grew from 84 to 88 billion rubles.
• As of December 31, 2019 obligations of the company exceeded 40.535 billion, having increased in a year by 4.7%. From them long-term obligations – 17.474 billion rubles (growth by 1.3 times), short-term – 23.61 billion (-10.8%).
• At the end of 2019 the company got 19.140 million rubles net profit under RAS, having lowered this indicator by 1.6 times in comparison with 2018.
• In November reported to Devon news Agency that Udmurtneft lowered by 30% dividends according to the results of 9 months 2019. It occurred against the background of fall of net profit of the largest oil-extracting company of Udmurtia by 25%.