(Tiper Stock Exchange) – Gazpromthe state-controlled energy giant, closed the first half of 2023 with a Net income equal to 296.2 billion rubles (about 2.86 billion euros), a sharp decrease compared to 2.5 trillion rubles in the same period last year. THE revenues they fell to 4.11 trillion rubles (about 39.7 billion euros), down by more than 41% compared to a year ago. For both data, these are the lowest values since the first half of 2020.
“The drop in exports to Europe was partially offset byincreased supplies to Chinawhich will continue to grow in compliance with contractual obligations, as well as from the efficient management of the oil business,” commented Famil Sadygov, deputy chairman of the management committee of Gazprom.
The net debt adjusted at the end of the second quarter of 2023 it amounted to about 4.9 trillion rubles, with its growth compared to the end of 2022 being “largely due to the impact of exchange rate differences”, Sadygov points out. The net debt/EBITDA ratio adjusted to dollars it is 1.9, “a comfortable range” according to the manager.
Going into the details of the report, published by the company on its Telegram channel, Gazprom has generated a net loss of 18.6 billion rubles (about 180 million dollars) in second quarter of 2023, after a net profit of 1.03 trillion rubles a year earlier (about 9.9 billion euros).