Slavneft' Megionneftegaz P : Slavenft reports data of the Financial Statements under IFRS for Q2 and H1 2017

01.08.2017

OAO NGK Slavneft reports the consolidated data of the Financial Statements prepared in accordance with the International Financial Reporting Standards (IFRS) for Quarter 2 and for the first half of 2017.

Key Financial Indicators
(in mln of Russian rubles)

Q2 2017	Q2 2016	H1 2017	H1 2016
Revenues Operating expenses Taxes except for the income tax Other items of (expense)/ income	53,371 (11,054) (25,970) (2,394)	57,967 (11,277) (23,753) (2,382)	111,410 (21,787) (55,186) (4,317)	104,007 (22,617) (40,277) (4,316)
EBITDA Depreciation & amortization Impairment and profit / (loss) from assets disposal	13,953 (9,261) (20)	20,556 (7,932) 69	30,120 (17,800) (97)	36,797 (15,815) 46
Operating income Finance expenses, net Profit from forex difference	4,672 (1,085) (406)	12,693 (1,589) 1,209	12,223 (1,985) 332	21,028 (2,840) 3,265
Income before tax Income tax expense	3,181 (499)	12,313 (2,202)	10,570 (1,813)	21,453 (4,352)
Profit for the period attributable to: - Slavneft's shareholders - non-controlling interests Other comprehensive income/ (loss)	2,682 1,143 1,539 -	10,111 6,416 3,695 (33)	8,757 4,798 3,959 81	17,101 10,190 6,911 (139)
Total comprehensive income attributable to:	2,682	10,078	8,838	16,962
- Slavneft's shareholders - non-controlling interests	1,143 1,539	6,383 3,695	4,844 3,994	10,051 6,911

The revenues from sales for Q2 2017 made RUR 53,371 mln and decreased by 8% against Q2 2016. Such decrease was caused by the reduction in the crude oil sale price. The revenues from sales for H1 2017 made RUR 111,410 mln and increased by 7% against the similar period of 2016.

In Q2 2017, the taxes, except for the income tax, grew by 9% vs. Q2 2016 mainly due to the MET rate increase and were equal to RUR 25,970 mln. In the first half of 2017, the taxes, except for the income tax, increased by 37% against the first half of 2016 and made RUR 55,186 mln; such increase resulted from the MET rate increase.

Under performance results of Q2 2017, the earnings before interests, income tax and amortization (EBIDTA) was equal to RUR 13,953 mln, and EBIDTA for the first half of 2017 made RUR 30,120 mln that is 18% below the indicator of the similar period in 2016. The main factor, which influenced the EBIDTA reduction in H1 2017 against H1 2016, is the MET increase.

The comprehensive income of Slavneft's shareholders in Q2 2017 made RUR 2,682 mln. In H1 2017, the comprehensive income of Slavneft's shareholders was equal to RUR 8,838 mln that is 48% less than the indicator of the similar period in 2016. The increase in the MET amount and reduction in the profit from forex difference are two main factors, which had an impact on the income decrease.

International Financial Reporting Department
OAO NGK Slavneft
Tel.: [phone]

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