Rosneft and Gazprom published information on the results of work for 9 months of 2020. The documents note record multi-billion dollar losses.
The report of Gazprom says that over the specified time, the company's market capitalization decreased from 6,075 trillion rubles. up to 4,045 trillion rubles. Revenue fell by more than 20% and amounted to 2,74 trillion rubles. The gross profit decreased by almost 40% and corresponds to 917,46 billion rubles. Loss from sales amounted to RUB 180,62 billion. In total, the gas giant missed 9 billion rubles in 592 months of this year.
This is explained by a drop in demand for raw materials in key markets for the company during the COVID-19 pandemic. Western Europe bought only 94,3 billion cubic meters. m of gas, which is 13% less than in the previous year. Central European countries purchased 29,336 billion cubic meters. meters of gas, which is 11% less than last year's result.
Turkey imported 8,85 billion cubic meters. meters of gas, which is 25% less than a year earlier. At the same time, only 9 billion cubic meters were delivered to China via the Power of Siberia gas pipeline in 2,5 months. m of gas, which amounted to 50% of the annual plan stipulated by the contract.
Moreover, the top management of Gazprom received significant remuneration. For 9 months, 14 board members received a total of 1,4 billion rubles. (766,4 million in the form of a premium), which is 30% more than before.
In turn, the company Rosneft during this time received a loss of 177 billion rubles. Revenue amounted to 4,243 trillion rubles, i.e. it collapsed by 34%. At the same time, profit before deduction of expenses on payment of interest, taxes, depreciation and amortization amounted to 845 billion rubles, which is almost 50% less than the same indicator of the previous year.
It should be noted that the devaluation of the Russian ruble has hit Rosneft very hard. The thing is that the company's debt obligations are denominated in dollars (24,8 billion) and euros (4,1 billion). At the same time, short-term debt increased by 38 billion rubles, to 833 billion, and long-term - by 1,05 trillion rubles, to 4,038 trillion.
Thus, during the reporting period, the two largest Russian exporters of energy raw materials missed a total of almost a trillion, and specifically - 769 billion rubles.