俄罗斯石油公司2009年利润达136亿美元，净债务减少28亿美元, 俄罗斯石油公司

Release Date: 2010-02-01

On February 1, 2010, Rosneft (the Company) was the first among its global peer group to publish audited consolidated financial results under US GAAP for 2009

In Q4 2009 Rosneft’s revenues increased by 11.6% quarter-on-quarter, to USD 14,567 mln. The increase was due to higher crude oil and petroleum product prices and growth of crude oil production volumes, partially offset by a decrease in petroleum product output and sales volumes. In 2009 revenues amounted to USD 46,826 mln, a decrease of 32.1% year-on-year. The decrease was primarily attributable to lower crude oil and product prices.

Rosneft’s EBITDA amounted to USD 4,014 mln in Q4 2009, a 9.7% increase quarter-on-quarter. The increase was tempered by strengthening of the ruble against the USD and growth of export duties and mineral extraction tax. EBITDA for 2009 amounted to USD 13,565 mln, 20.7% lower than USD 17,108 mln in 2008. The decrease was mainly driven by a fall in the Company’s revenues due to lower crude oil and product prices.

In Q4 2009 net income increased to USD 1,674 mln, up 43.3% from USD 1,168 mln in Q3 2009. Net income for 2009 totaled USD 6,514 mln, 35.9% lower year-on-year, partially due to a higher effective income tax rate (24% in 2009 compared to 15% in 2008).

In 2009 Rosneft reduced its net debt by USD 2,794 mln, to USD 18,489 mln, and paid USD 622 mln of dividends. The decrease in net debt reflects strong free cash flow generation of USD 3.4 bln, of which USD 1.2 bln were generated in Q4. Rosneft’s credit profile strengthened substantially in 2009, as short-term debt decreased by USD 6.2 bln, the share of long-term debt in total debt increased from 42% to 67%, and net debt to EBITDA equaled 1.36.

Commenting on the results, Rosneft’s President Sergey Bogdanchikov said: "Despite the challenging macroeconomic situation in early 2009, Rosneft delivered excellent results for the year across all key metrics: cost control, profitability, free cash flow generation and resulting net debt reduction and volume growth. We will continue to focus on these performance metrics in 2010 as emphasized in our approved business plan".

Type:	NORMAL
Company:	俄罗斯石油公司
Country:	俄罗斯