31 March 2020

Tatneft published its audited IFRS consolidated financial statements for the year ended December 31, 2019

PJSC Tatneft (the “Company”) published on its web-site (http://www.tatneft.ru/?lang=en) the audited consolidated financial statements (the “Financial Statements”) for the year ended 31 December 2019 prepared in accordance with International Financial Reporting Standards (“IFRS”) and the related Directors’ report, incorporating Management Discussion and Analysis of Results of Operations (the “MD&A”).



Selected financial highlights below are based on the respective IFRS financial statements of the Company. These highlights do not replace the Financial Statements or the MD&A and all interested persons are encouraged to read these documents for full understanding of 2019 IFRS results. Russian Ruble amounts below have been translated into U.S. Dollars, for sales and other operating revenues and net profit at the average exchange rate during the respective reporting period and for items of Statements of Financial Position at the exchange rate on the last date of the respective reporting period.

In 2019 Tatneft Group produced 29.8 million tonnes (212.3 MMbbl) of crude oil and 1,009.6 million cubic meters of gas. TANECO refinery output in 2019 was 10.1 million tonnes of refined products.

The Company’s consolidated sales and other operating revenues on non-banking activities net of export duties and excise taxes in 2019 were 932,296 million Rubles (US$ 14,401 million) as compared to 910,534 million Rubles (US$ 14,520 million) in 2018. 

The consolidated profit attributable to Group shareholders in 2019 was 192,260 million Rubles (US$ 2,970 million) as compared to 211,812 million Rubles (US$ 3,378 million) in 2018.

The Company’s EBITDA (a non-IFRS financial measure) for 2019 was 290,800 million Rubles (US$ 4,492 million); however, the Company’s EBITDA adjusted for exceptional items was 328,412 million Rubles (US$ 5,073 million).

Total consolidated assets of the Company increased from 1,201,288 million Rubles (US$ 17,292 million) as of 31 December 2018, to 1,238,639 million Rubles (US$ 20,007 million) as of 31 December 2019.

Total consolidated liabilities of the Company increased from 424,507 million Rubles (US$ 6,111 million) as of 31 December 2018, to 486,509 million Rubles (US$ 7,858 million) as of 31 December 2019.

Total consolidated shareholders’ equity decreased from 776,781 million Rubles (US$ 11,182 million) as of 31 December 2018, to 752,130 million Rubles (increased in US dollar terms to US$ 12,149 million) as of 31 December 2019.

The IFRS financial highlights for 2019 will be presented on a conference call on 3 April 2020 at 16:00 Moscow time, 14:00 London time, 09:00AM EST and 6:00AM PDT. 

To participate in the conference call please preregister using the link www.diamondpass.net/1029798

The conference call replay will be available within 7 days after completion of the call by dialing* +27 10 500 4108 (international dial-in), +1 412 317 0088 (USA) or +44 203 608 8021 (UK), using Playback ID 32115.

* PJSC Tatneft shall not be liable for inability to use any of the free numbers.

Forward-looking statements: This press-release contains certain statements about future events and expectations that are forward-looking in nature. Any statement in this press-release that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. PJSC Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

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