Gazprom's monetary data in accordance with Worldwide Monetary Reporting Requirements (IFRS) for the six months ended June 30, 2021

August 30, 2021, 6:00 p.m.

PJSC Gazprom today published its unaudited consolidated condensed interim financial information prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (IAS 34) for the six months ended June 30, 2021.

The following table shows the unaudited consolidated condensed interim income statement for the six months ended June 30, 2021 and for the six months ended June 30, 2020. All amounts in the table are in millions of Russian rubles.

You can find more detailed information on the most important elements of the sales structure in the following table.

Net sales of gas increased by RUB 833,968 million or 60% to RUB 2,220,557 million in the six months ended June 30, 2021 compared to the same period last year. The increase in sales was mainly due to an increase in gas sales to Europe and other countries.

Net sales of gas to Europe and other countries increased in the six months to 30. The change was mainly due to the increase in average prices (including excise taxes and duties) in Russian rubles by 63% and to the increase in the volume of gas sold by 23% or 22.4 billion cubic meters. At the same time, average prices in US dollars rose 53%.

Net sales of gas to the countries of the former Soviet Union increased by RUB 48,418 million or 35% to RUB 187,701 million in the six months ended June 30, 2021 compared to the same period of the previous year. The change was due to the increase in gas sales by 23%, or 3.4 billion cubic meters, and the increase in average prices (including duties) in Russian rubles by 13%. At the same time, average prices in US dollars rose 6%.

Net sales of gas in the Russian Federation increased by RUB 85,455,000, or 17%, to RUB 574,158 in the six months ended June 30, 2021 compared to the same period last year. This change was mainly explained by the increase in the volume of gas sold by 13% or 15.8 billion m³ and the increase in average prices (excluding VAT) by 4%.

Net sales of refined products (excluding excise taxes, VAT and customs duties) increased by RUB 371,912, or 45%, to RUB 1,192,765 in the six months ended June 30, 2021 compared to the same period last year. The increase in net sales of refined products was mainly due to an increase in average prices in Russian rubles across all geographic segments.

Net sales of crude oil and gas condensate (excluding VAT and duties) increased by RUB 181.008 million or 85% to RUB 393,058 million in the six months ended June 30, 2021. The change was mainly due to an increase in net sales of crude oil mainly caused by an increase in the average price of crude oil.

Operating expenses increased by RUB 634,910 or 24% to RUB 3,328,167 in the six months ended June 30, 2021 compared to the same period of the previous year.

The increase in operating expenses was mainly caused by the increase in expenses in the item “Acquired gas and oil” by RUB 240,616 million or 54% for the six months ended June 30, 2021 compared to the same period last year, caused by an increase in the average Oil and gas prices.

The increase in the “Taxes other than profit” item by RUB 141,261 million, or 23%, for the six months ended June 30, 2021 compared to the same period last year was mainly due to an increase in mineral extraction tax costs, partly due to a decrease in excise expenses were balanced. The increase in mineral extraction tax expense, mainly caused by an increase in the price of crude oil, the tax rate as a result of the tax maneuver and an increase in the volumes of gas production.

The balance of the currency differences reported in the item “Financial result (expense)” resulted in a profit of RUB 115,330 million for the six months ended June 30, 2021 compared to a loss of RUB 285,108 million for the same period of the previous year .

The profit attributable to the owners of PJSC Gazprom for the six months ended June 30, 2021 was RUB 968,498 million.

Adjusted EBITDA (calculated as the sum of operating profit, depreciation, impairment losses or reversals of impairments on financial assets and non-financial assets, minus changes in value adjustments for expected credit losses on receivables and value adjustments on advance payments and advance payments) increased by 802 954 RUB or 134% for the six months ended June 30, 2021 compared to the same period last year and amounted to RUB 1,403,981 million. This change was mainly due to an increase in sales.

Net debt (defined as the total of short-term loans and the current portion of long-term loans, short-term borrower's note loans, long-term borrower's note loans, long-term borrower's note loans less cash and cash equivalents) reduced by RUB 476,982 million or 12% from RUB 3,872,695 million as of December 31, 2020 to RUB 3,395,713 million as of June 30, 2021. This change was primarily due to an increase in cash and cash equivalents.

You can find more detailed information on the consolidated condensed IFRS interim financial information for the six months ended June 30, 2021 here.

Information Directorate, Gazprom