Rosneft Posts YOY Income Decrease
Rosneft posted a net income of $5.3 billion in the nine month period ended September 30, which marked an 11.7 percent decrease from the $6 billion income registered during the same period last year.
The company’s revenues fell 43.6 percent year on year to $66.8 billion in 9M and its EBITDA dropped 39.3 percent to $15 billion. Due to the repayment of a substantial part of short-term debt, Rosneft’s gross debt decreased by 27.6 percent year on year in 9M 2015 to $47.5 billion.
Commenting the results for 9M 2015, I.I. Sechin, chairman of the Rosneft management board, commented in a company statement:
“Despite of challenging economic environment, the company keeps improving its efficiency…The company achieved a structural improvement in the credit profile, while the debt burden was reduced to the target level.”
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