(MENAFN- Trend News Agency)
Rosneft has recognized a loss of 56 bln rubles ($888.8 mln) as a
result of the transfer of its assets in Germany to the external
management of the country's authorities, the company said, trend reports with reference
to tass .
'In 3Q 2022, the most significant negative impact on income came
from the transfer of the Company's assets in Germany to external
management of the Federal Network Agency, which resulted in the
recognition of an additional loss of RUB 56 bln. The transfer of
assets also resulted in a RUB 76 bln reduction in cash,' the
'The total amount of the Company's investments in these assets
exceeded $5 bln, which corresponds to the sum of historical cost
and investments in their expansion and development. The Сompany
traditionally takes a conservative approach to asset valuation, and
made provisions for the most part of the German assets value in the
previous periods,' the company noted.
Rosneft reported earlier that its net income attributable to
shareholders under International Financial Reporting Standards
(IFRS) fell by 15% in 9M 2022 year-on-year to 591 bln rubles ($9.3
bln). EBITDA rose by almost 22% in the reporting period to a record
2.014 trillion rubles ($32 bln), while revenue added 15.7% to 7.2
trillion rubles ($114 bln).
'The operating indicators dynamics as well as the prevailing
price environment allowed the company to increase its revenue by
15.7% to 7,202 bln rubles. At the same time, EBITDA increased by
21.8% YoY and reached a record nine-month high of 2,014 bln rubles.
EBITDA margin also rose to an all-time high of 28%,' Rosneft
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