European Gas Hub
No Result
View All Result
  • Premium Content
    • All
    • Coal Market
    • European Energy Policy
    • European Gas Pipeline Infastructure
    • European Gas Prices
    • European Gas Storage
    • European Gas Supply & Demand
    • LNG
    • Russia
    • Unconventional Resources
    • Hydrogen
    • European power generation
    • Other
  • Blog
  • Events
  • Industry Links
    • Industry Association
    • Research Institute / Think Tank
    • Regulatory Body
    • Government Body
    • Consultant
    • Gas Prices
  • Newsletter
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • GLOBAL MARITIME HUB
    • THE COAL HUB
  • Subscribe
  • My account
  • Login
SUBSCRIBE
  • Premium Content
    • All
    • Coal Market
    • European Energy Policy
    • European Gas Pipeline Infastructure
    • European Gas Prices
    • European Gas Storage
    • European Gas Supply & Demand
    • LNG
    • Russia
    • Unconventional Resources
    • Hydrogen
    • European power generation
    • Other
  • Blog
  • Events
  • Industry Links
    • Industry Association
    • Research Institute / Think Tank
    • Regulatory Body
    • Government Body
    • Consultant
    • Gas Prices
  • Newsletter
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • GLOBAL MARITIME HUB
    • THE COAL HUB
  • Subscribe
  • My account
  • Login
European Gas Hub
No Result
View All Result
Home Russia

Gazprom hit hard in Q1

Editor by Editor
3 years ago
min read2 min
Gazprom
Share on FacebookShare on TwitterShare on Linkedin
“The external conditions in which both Gazprom and the industry at large are operating in 2020 are assessed by market analysts as very unfavourable. Considering these conditions, the Company’s financial results for the first quarter of this year can be characterized as, to put it cautiously, quite good. We have generated a positive free cash flow and kept the debt burden at a comfortable level.

The net loss recorded based on the results of Q1 2020 exists mostly on paper, as it can be
attributed mainly to considerable foreign exchange losses caused by a sharp decline in the
ruble exchange rate observed in March against the background of a growing pandemic,
along with the well-known events in the global oil market.

RELATED POSTS

Global gas supply set to tighten further in 2023

Global gas supply set to tighten further in 2023

2 weeks ago
European LNG imports rise to over 111 Million tonnes

European LNG imports rise to over 111 Million tonnes

3 weeks ago
Russian LNG exports to Europe by destination

Russian LNG exports to Europe by destination

1 month ago

In Q1, the Gazprom Group’s total debt in ruble terms and the net debt increased by 17 and 29 per cent

Let me remind you that the adjustment for non-monetary items like these is provided for
by the Company’s Dividend Policy, which was approved in late 2019. Taking into account
these adjustments, which, let me stress it again, were made in accordance with the
already announced rules, the profit gained in the first quarter of this year in the amount of
RUB 288 billion will be included in the calculation of the dividends for 2020. It is clear that
the ultimate amount of the dividends will be calculated based on the profits for the entire
year of 2020.

In Q1, the Gazprom Group’s total debt in ruble terms and the net debt (taking into account
bank deposits) increased by 17 and 29 per cent, respectively. The currency revaluation of
the loan portfolio, which is dominated by borrowings in US dollars and euros, was also
among the main growth drivers for the above indicators. However, in dollar terms the net
debt went up by a mere 3 per cent, while the total debt did not rise but, in fact, dropped
by 7 per cent.

THE NET LOSS RECORDED BASED ON THE RESULTS OF Q1 2020 EXISTS MOSTLY ON PAPER, AS IT CAN BE
ATTRIBUTED MAINLY TO CONSIDERABLE FOREIGN EXCHANGE LOSSES

As usual, the debt burden is measured by an adjusted net debt to EBITDA ratio in US
dollars. On the back of an expected decrease in EBITDA, this indicator rose from 1.4x to
1.5x in Q4 2019. Market analysts are confident that this debt burden can be considered
quite comfortable for the Company.

It is also worth noting that Gazprom has managed to adapt rapidly to the dramatically
changed environment of the current year. In particular, the Company promptly developed
a package of cost reduction measures, which allows it to maintain stability during the crisis
period.”

Source: Gazprom, Famil Sadygov, Deputy Chairman of Gazprom Management Committee.

See Gazprom Press Release HERE

Follow Gazprom on Twitter:

Tweets by "GazpromEN"
Tags: GazpromGazprom gas sales
Editor

Editor

Related Posts

Global gas supply set to tighten further in 2023
Gas Prices

Global gas supply set to tighten further in 2023

2 weeks ago
European LNG imports rise to over 111 Million tonnes
LNG

European LNG imports rise to over 111 Million tonnes

3 weeks ago
Russian LNG exports to Europe by destination
LNG

Russian LNG exports to Europe by destination

1 month ago
Gazprom’s 100 bcm drop
Gas Prices

Gazprom’s 100 bcm drop

1 month ago
European gas trading down by 25%
Gas Prices

European gas trading down by 25%

3 months ago
Russian gas cuts in 2023: what to expect
Gas Prices

Russian gas cuts in 2023: what to expect

3 months ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Posts

European gas prices drop to pre-war lows

European gas prices drop to pre-war lows

3 weeks ago
gas-prices

International natural gas prices – Cedigaz

2 weeks ago
Global gas supply set to tighten further in 2023

Global gas supply set to tighten further in 2023

2 weeks ago
Load More

Recent Post

European-gas-storage

The true value of European gas storage

2 days ago
European gas storage spreads normalise

European gas storage spreads normalise

1 week ago
European-gas-price

What’s behind the European gas price decline?

1 week ago
Load More

European Gas Hub is an online platform for sharing analysis and information about European natural gas markets more info

Categories

  • European Gas Prices
  • Energy Policy
  • European Gas Infastructure
  • European Gas Storage
  • Coal Market
  • Supply & Demand
  • Gas Supply & Demand
  • LNG
  • Other
  • Unconventional Resources

Recent Posts

The true value of European gas storage

European gas storage spreads normalise

What’s behind the European gas price decline?

Energise your Tuesday!

Sign up to receive our weekly newsletter with new European gas market reports, presentations & analysis. Every Tuesday.

By signing up, I agree to our TOS and Privacy Policy.

© 2020 EuropeanGasHub | All Rights Reserved

No Result
View All Result
  • Premium Content
    • All
    • Coal Market
    • European Energy Policy
    • European Gas Pipeline Infastructure
    • European Gas Prices
    • European Gas Storage
    • European Gas Supply & Demand
    • LNG
    • Russia
    • Unconventional Resources
    • Hydrogen
    • European power generation
    • Other
  • Blog
  • Events
  • Industry Links
    • Industry Association
    • Research Institute / Think Tank
    • Regulatory Body
    • Government Body
    • Consultant
    • Gas Prices
  • Newsletter
  • Videos
  • Other Hubs
    • GLOBAL LNG HUB
    • GLOBAL MARITIME HUB
    • THE COAL HUB
  • Subscribe
  • My account
  • Login

© 2020 EuropeanGasHub | All Rights Reserved

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT

Energise your Tuesday!

SIGN UP to receive our weekly newsletter with new European gas market reports, presentations & analysis. EVERY TUESDAY!

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?