Over the past year, Gazprom earned 725.6 billion rubles. Profits from sales, the company's financial income amounted to 1.02 trillion rubles. And expenses - 543 billion rubles., Follows from the company's report for 2016. As a result, the company's net profit grew by 20% to 951 billion rubles, the company's report says. The Finance Ministry expected that Gazprom's net profit under IFRS could reach 893 billion rubles by the end of the year, it follows from the draft budget.
At the same time, sales revenue increased by 0.6% last year to 6.1 trillion rubles, and operating expenses by 13.9% to 5.2 trillion rubles. The increase in sales revenue is mainly due to increased sales of crude oil and gas condensate, the company explains.
In 2016, Gazprom produced 419.07 billion cubic meters of gas. M, of them to Europe and Turkey, the company exported 179.3 billion cubic meters. M gas, setting a historic record.
But this did not help the company, and the net proceeds from gas sales to Europe and other countries decreased by 25.5 billion rubles, or by 1%, compared to 2015 and amounted to 2.1 trillion rubles. This is mainly due to a decrease in average prices expressed in rubles (including excise and customs duties) by 22%, which was partly offset by an increase in realized volumes of natural gas by 24%, or by 43.9 billion cubic meters. M, the company explains.
Revenue from the sale of gas to the countries of the former USSR decreased by 28% to 309.6 billion rubles. But the proceeds from gas sales in Russia increased by 2% to 819 billion rubles, this is due to an increase in average prices by 5%. Gazprom Neft provided the company with a 58% revenue increase from crude oil sales to RUB 411.9 billion
The company explains the increase in operating expenses, including a rise in the price of gas, oil and oil and gas products transit by 75.7 billion rubles, or by 14%.
Net debt of the company decreased, according to a report by Gazprom, by 7% to 1.9 trillion rubles. In 2016, Gazprom won from the strengthening of the ruble, 48% of the company's net profit - paper, from the revaluation of foreign currency debt, said Aton analyst Alexander Kornilov. In 2015, when the ruble weakened, the situation was reversed, he says.
In mid-April, Gazprom's management proposed a recommendation on dividends for approval by the board of directors - 7.89 rubles. Per share (at the level of last year), the company said in a statement.
If the board of directors supports, and shareholders at the annual meeting approve these dividends, then the total payments for 2016 will amount to 186.8 billion rubles., Of which the state will have 93.8 billion rubles. (Directly Rosimushchestvo owns 38.373% of the company, through Rosneftegaz 10.97% is controlled, and another 0.9% belongs to Rosgazification).
Last year, the board adjusted the original management proposal in the direction of increasing the dividend amount by 0.49 rubles. Per share. If the board of directors and this year will adjust the dividends and they will account for 50% of the net profit under IFRS, the shareholders get 475.8 billion rubles, of which the state - 237.9 billion rubles.
According to two officials, the government's draft decree on dividends of all state-owned companies is ready now - they should give 50% of the profits under IFRS. As it became known to "Vedomosti", this order will be signed before the end of the week.
Gazprom is asking for an exception. The grounds for exclusion are a large investment program of the company, which should nullify its cash flow this year. Gazprom will have to borrow to pay dividends in the amount of 50% of profits under IFRS, says Aton analyst Alexander Kornilov. According to his forecasts, the money flow of the monopoly this year may even become negative, but there are opportunities for a loan - the ratio of net debt to EBITDA is acceptable (1.6). Last year, Gazprom received an exception on dividends due to an increase in the tax burden, but this year they decided not to make exceptions, the federal official said. Although this year the MET for gas was again raised.