Novatek reports financial results in Q3 and the first 9 months of 2015

On October 28, Novatek published its consolidated interim condensed financial statements for the third quarter and first nine months of 2015, prepared in accordance with IAS.

In the third quarter of 2015, the company’s revenues from sales amounted to 117.4 billion rubles, and in the nine months – 343.3 billion rubles. As compared with the same periods in 2014, the sales revenue increased by 38.5% and 31.2%, respectively. As the press centre of Novatek explained, the revenue growth was mainly connected with the increase in the sales volumes of liquid hydrocarbons and gas sales prices.

In the third quarter of 2015, normalized EBITDA, taking into account the share in joint venture's EBITDA, reached 52.6 billion rubles and in the first nine months of 2015 -157.9 billion rubles. As compared with the same periods in 2014, it increased by 35.7% and 29.4%, respectively. The dynamics of EBITDA was positive influenced by the increase in the share of liquid hydrocarbons in the total sales volume.