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Net profit of Zarubezhneft under IFRS fell by one third




MOSCOW, Feb 25 – PRIME. Net profit of Zarubezhneft under IFRS for 2020 fell by 32% compared to 2019 and amounted to 9.2 billion rubles, according to the company’s website. “The high level of economic efficiency allows the Zarubezhneft group of companies to complete 2020 with a net profit of 9.2 billion rubles,” it said. Consolidated sales revenue for 2020 amounted to 82.9 billion rubles, which is 10.7% less than in 2019. Consolidated EBITDA amounted to 21.5 billion rubles, according to the message. According to the company, the fall in key financial indicators is associated with a downtrend in world oil prices and a difficult economic environment. Zarubezhneft is a holding uniting more than 20 joint ventures and subsidiaries in various segments of the oil and gas business. The only shareholder is the Russian Federation represented by the Federal Property Management Agency.

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