Gazprom posts $45bn net profit

摘要

Gazprom posted a 34.9% year-on-year rise in its 2011 net profit attributable to shareholders to Rbl.307 trillion ($44.56 billion), significantly above analysts' expectations. The company's total net profit grew 34.2% year-on-year to Rbl.34 trillion, the company said in its 2011 annual report prepared under International Financial Reporting Standards. The profit figure came in above market expectations. "Gazprom's 2011 results were significantly above our outlook, mainly due to a better than expected gas production costs in the fourth quarter of the year," Pavel Sorokin, a senior analyst at Alfa Bank, said. Gazprom net sales (excluding excise tax, VAT, and customs duties) rose 28.9% year-on-year to Rb4.637 trillion last year, mainly due to higher gas prices and volumes sold, the company said. Of the total, net gas sales grew 28.7% on the year to Rb2.81 trillion, with gas volumes sold amounting to 519 billion cubic meters, up 4.7%.