Press Releases and Events
NOVATEK Announces Financial Results for the First Half 2025
Moscow, 30 July 2025. PAO NOVATEK (“NOVATEK” and/or the “Company”) reported today disclosable consolidated interim condensed financial statements as of and for the six months ended 30 June 2025.
In the six months ended 30 June 2025, our total revenues and Normalized EBITDA, including our share in the EBITDA of joint ventures, amounted to RR 804.3 billion and RR 471.8 billion, respectively, representing an increase of 6.9% and a decrease of 1.8%, respectively, as compared to the corresponding period in 2024. Normalized profit attributable to shareholders of PAO NOVATEK, excluding the effect of foreign exchange gains (losses), amounted to RR 237.1 billion in the first half 2025, which is 17.0% lower as compared to the first half 2024.
Net cash provided by operating activities of the Group amounted to RR 195.7 billion in the six months 2025, representing an increase of 7.3% as compared to the corresponding period in 2024. Our cash used for capital expenditures amounted to RR 76.4 billion in the first half 2025.
Key performance indicators
(in millions of Russian roubles except as stated)
|
1H 2025 |
1H 2024 |
|
|
Financial results |
||
|
Total revenues |
804,320 |
752,404 |
|
Operating expenses |
(628,438) |
(571,726) |
|
Normalized EBITDA |
471,806 |
480,652 |
|
Profit attributable to shareholders of PAO NOVATEK |
225,697 |
341,677 |
|
Normalized profit attributable to |
237,057 |
285,580 |
|
Non-current assets |
3,170,716 |
3,033,107 |
|
Non-current liabilities |
359,999 |
459,192 |
|
Net debt |
108,379 |
139,807 |
|
Production volumes |
||
|
Hydrocarbons production (million barrels of oil equivalent) |
337 |
331 |
|
Daily production (million barrels of oil equivalent per day) |
1.86 |
1.82 |
|
Cash flow results |
||
|
Net cash provided by operating activities |
195,689 |
182,434 |
|
Cash used for capital expenditures |
76,439 |
122,047 |
Disclosable consolidated interim condensed financial statements of PAO NOVATEK and the notes thereto are available on the Company’s web site (www.novatek.ru/en/).
PAO NOVATEK is one of the largest independent natural gas producers in Russia, and in 2017, entered the global LNG market by successfully launching the Yamal LNG project. Founded in 1994, the Company is engaged in the exploration, production, processing and marketing of natural gas and liquid hydrocarbons. Upstream activities of the Company’s subsidiaries and joint ventures are concentrated mainly in the prolific Yamal-Nenets Autonomous Area, which is the world’s largest natural gas producing area and accounts for approximately 80% of Russia’s natural gas production and approximately 15% of the world’s gas production. NOVATEK is a public joint stock company established under the laws of the Russian Federation.