Rosneft’s net profit reaches a historical record in 2021

The net profit of Rosneft in 2021 reached 883 billion rubles, which was a record value in the entire history of the company. Compared to the results of 2020, it increased by more than six times, follows from the company’s IFRS report. Revenue reached 8.761 trillion rubles. (+52.2% compared to 2020). According to the results of 2021, the company’s free cash flow increased 2.5 times and exceeded RUB 1 trillion.

Revenue for 2021 reached 8.761 trillion rubles. (+52.2% compared to 2020). EBITDA in 2021 almost doubled compared to 2020 and reached a historic high of RUB 2.33 trillion. According to the results of 2021, the company’s free cash flow increased 2.5 times and exceeded RUB 1 trillion.

Net financial debt and trading prepayments of Rosneft decreased by $5.5 billion compared to the beginning of 2021. The ratio of net debt to EBITDA was 1.3 (a decrease of about 2 times since the beginning of the year).

At the same time, according to the results of the 4th quarter of 2021, the company’s net profit decreased by 40.4% compared to the 3rd quarter of 2021 to RUB 187 billion. Revenue for the fourth quarter of 2021 amounted to 2.537 trillion rubles. (+9.4% compared to the III quarter of 2021), EBITDA – 676 ​​billion rubles. (6% by Q3 2021).

“At the end of 2021, the company’s Board of Directors approved the Rosneft 2030: Reliable Energy and Global Energy Transition strategy, which takes into account current trends related to the climate agenda. We expect that, thanks to the implementation of the new strategy, Rosneft will strengthen its position in the global hydrocarbon market as a reliable producer and supplier of energy resources, while minimizing its environmental impact,” he said.

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