Net profit of Bashneft under IFRS in 2015 has increased by 34.8% to 58.2 billion rubles


MOSCOW, March 14. Net profit of “Bashneft” according to international financial reporting standards (IFRS) to 2015 increased by 34.8% to 58.2 billion rubles. This is stated in the message of the company.

The group’s revenue decreased by 4.1% and amounted to 611,27 billion. Adjusted EBITDA in 2015 grew by 27.1% to 130,28 billion.

Operating cash flow declined 13% to 92.3 billion roubles. Capital expenditures increased by 27,6% – to 61.7 billion rubles. Adjusted net debt decreased by 13.7% to 98 billion rubles.

Capital expenditures increased by 27.6 percent to 61.7 billion rubles due to the growth of investment in the development of Sorovskij deposits and increased capital expenditure at Mature fields in Bashkortostan.

Adjusted net debt decreased by 13.7% to 98 billion rubles. It is noted that the main factors having a positive impact on the financial performance of the company in 2015, an increase in oil production volumes, optimisation of volumes of processing of raw materials to maximize the output of light oil products, as well as favourable market conditions in the domestic market of oil products and petrochemicals.