Novatek按国际财务会计准则报告了2008年全年财务结果, Novatek
Release Date: 2009-03-13
OAO NOVATEK today announced that it will release its audited full year 2008 consolidated financial results, prepared in accordance with International Financial Reporting Standards (“IFRS”), on Wednesday 18 March.
The Company would like to draw your attention to certain matters that occurred during the three months ended 31 December (fourth quarter 2008) that had a direct impact on our financial and operational results for the full year 2008.
1. As of 31 December 2008, the balance of our US dollar (USD) denominated debt did not increase compared to the balance as of 30 September 2008. However, during this period the Russian rouble (RR) depreciated against the USD by approximately 16.3% resulting in a foreign exchange loss on USD denominated debt of approximately RR 3.3 billion in the fourth quarter. The net foreign exchange loss for the full year 2008 was approximately RR 3.6 billion.
2. As of 31 December 2008, our stable gas condensate volumes in transit and storage recorded as inventory remained relatively unchanged compared to the periods ended 30 September 2008 and 31 December 2007. However, our average contract price (including customs duties) for the sale of our stable gas condensate in the fourth quarter 2008 decreased by approximately 50% compared to our average contract price in the third quarter 2008.
3. On 26 November 2008, the Russian Federation government approved a reduction in the corporate profit tax rate from 24% to 20% effective 1 January 2009. As a result of this announcement, we recorded a reduction in our net deferred tax liabilities of RR 1.1 billion (balance sheet) and a corresponding reduction in our profit tax liabilities (income statement) of the same amount.
The Company will provide more information regarding these and other matters pertaining to the financial results during its upcoming earnings conference call. Specific details on the earnings conference call will be provided next week.
| Type: | NORMAL |
| Company: | Novatek |
| Country: | 俄罗斯 |
| Url: | http://www.novatek.ru/eng/newscenter/pressrelease/2009/p2009_493.html |