Gazprom's sales up, profit down in 2013

Tuesday, April 29, 2014

Gazprom's financial report for 2013 reveals sales increased 10 percent whereas profit fell by 7 percent

Gazprom's financial report for 2013 reveals sales increased 10 percent whereas profit fell by 7 percent

ANKARA – Russian energy giant Gazprom’s sales in 2013 increased by 10 percent compared to a year earlier despite a drop in its net income, the company announced Tuesday in its financial report for 2013.

The increase in sales of natural gas to Europe helped sales rise by 10 percent, amounting to US$146.7 billion.

The report also revealed that the company’s net profit dropped by 7 percent to US$31.9 billion.

The company’s net sales to Commonwealth of Independent States (CIS) countries dropped by 21 percent in 2013, mainly due to a 10 percent decrease in average prices in Ruble terms.

Gazprom increased its sales in Russian Federation by 4 percent. While the company’s sales in net volumes decreased by 8 percent, the reason behind this increase was the 14 percent rise in the prices set in Russia.

According to the report, net refined product sales of Gazprom increased by 12 percent in 2013. This increase was driven by the increase of supplies from Gazprom Neft to customers in Europe and other countries.

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