Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Public Joint Stock Company Rosneft Oil Company    ROSN

PUBLIC JOINT STOCK COMPANY ROSNEFT OIL COMPANY

(ROSN)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/15 11:35:20 am
6.938 USD   +0.41%
01/15MARKET CHATTER : Rosneft Looking at Oil Traders As Investors For Oil Project
MT
01/14ROSNEFT OIL : Company Statement
PU
01/13ROSNEFT OIL : Bashneft Plants Over 240,000 Conifer Seedlings in 2020
PU
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Rosneft Oil : 2020 Third quarter IFRS (Presentations)

11/13/2020 | 08:49am EST

Rosneft Oil Company

IFRS Results

Q3 2020

November 13, 2020

Important Notice

Information herein has been prepared by the Company. The presented conclusions are based on the general information collected as of the date hereof and can be amended without any additional notice. The Company relies on the information obtained from the sources which it deems credible; however, it does not guarantee its accuracy or completeness.

These materials contain statements about future events and explanations representing a forecast of such events. Any assertion in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting such statements.

This presentation does not constitute an offer to sell, or any solicitation of any offer to subscribe for or purchase any securities. It is understood that nothing in this report / presentation provides grounds for any contract or commitment whatsoever. The information herein should not for any purpose be deemed complete, accurate or impartial. The information herein in subject to verification, final formatting and modification. The contents hereof has not been verified by the Company. Accordingly, we did not and do not give on behalf of the Company, its shareholders, directors, officers or employees or any other person, any representations or warranties, either explicitly expressed or implied, as to the accuracy, completeness or objectivity of information or opinions contained in it. None of the directors of the Company, its shareholders, officers or employees or any other persons accepts any liability for any loss of any kind that may arise from any use of this presentation or its contents or otherwise arising in connection therewith.

2

Care for employees

Facing the COVID-19 Challenge:

Priority to People's Health and Well-being

  • Transition to remote work
  • Regular testing (>560,000 tests)
  • Psychological aid hotline
  • >29.3 mln units of personal protective equipment
  • Strict compliance with sanitary and epidemiological requirements
  • >5.8 mln liters of disinfectant for offices and workplaces treatment

Care for operations

  • Priority Action Plan approved by the Board of Directors to ensure operational stability
  • Emergency monitoring and response centers in 284 subsidiaries
  • Epidemiological alertness regime in 117 rotation camps and 230 shift camps
  • Rotation period is increased to 90 days
  • 263 observation rooms for 21,400 patients and 398 isolation rooms for 13,400 patients

Care for customers

  • Production of two sanitizer components, ethyl alcohol (ethanol) and acetone
  • 32,300 tons of acetone and
    2,700 tons of ethyl alcohol sold on the domestic market
  • Contactless fuel payment service
  • Personal protective equipment and financial support for medical institutions

3

The Company's Progress in Sustainable Development is Reflected in Designated International ESG Ratings

One of the global leaders,

The best Russian oil and gas

Rosneft was included in

ahead of most O&G

company in the Global CDP

the international

companies

climate change and water security

FTSE4Good Index

Rating improved to 70.1

rating

The highest score in the

The Climate change rating improved to B.

Management category

Rosneft was assigned the B- Water

security rating for the first time

Among top 10 industry

The company integrates climate

The Company was

leaders

issues into the decision-making

included in the top 100

Rating improved to А

process of its operating activity

of 843 emerging market

The rating in the Management quality

companies, representing 32

category improved to 3 points out of 4

sectors of the economy

from 31 countries

4

COVID-19 Impact

on Crude Oil and Petroleum Products Demand

Oil demand in Europe, mmbd

Main petroleum products demand in Europe, mmt

2019

15

30

22

100

14

Gasoline

Jet fuel

Diesel

Fuel oil

-8%

2019

+2%

+0.4%

-8%

+2%

-2%

-1%

+7%

10

15

11

50

7

5

0

0

0

0

Jan-20Feb-20Mar-20Apr-20May-20Jun-20Jul-20Aug-20Sep-20Oct-20

Q1 Q2

Q3

Q1

Q2

Q3

Q1

Q2

Q3

Q1

Q2 Q3

Oil demand in Asia-Pacific region, mmbd

Domestic demand for main petroleum products, mmt

2019

35

10

Gasoline 4

12

6

Jet fuel

Diesel

Fuel oil

30

2019

-13%

-0.1%

+2%

-4%

-0.2%

+3% -1%

-0.2%

+3%

5

2

6

3

25

20

0

0

0

0

Jan-20Feb-20Mar-20Apr-20May-20Jun-20Jul-20Aug-20Sep-20Oct-20

Q1

Q2

Q3

Q1 Q2

Q3

Q1

Q2 Q3

Q1 Q2

Q3

Source: Wood Mackenzie, Petromarket Research Group

5

Record Low Oil Prices

Followed by Partial Recovery

Oil prices and differentials1, $/bbl

Gross Upstream margin2, '000 Rub/t

80

Brent

16

Monthly average

Urals

FY average

ESPO

60

12

40

8

20

Urals-Brent

10

4

ESPO-Brent

5

0

-5

0

-10

0

Jan-19Feb-19Mar-19Apr-19May-19Jun-19Jul-19Aug-19Sep-19Oct-19Nov-19Dec-19Jan-20Feb-20Mar-20Apr-20May-20Jun-20Jul-20Aug-20Sep-20

Jan-19Feb-19Mar-19Apr-19May-19Jun-19Jul-19Aug-19Sep-19Oct-19Nov-19Dec-19Jan-20Feb-20Mar-20Apr-20May-20Jun-20Jul-20Aug-20Sep-20

Note: (1) Monthly averages, (2) Calculated as Urals price less export customs duty and effective MET rate

6

Key Events

1

New tax initiatives for the Russian oil and gas

sector were approved1

2

Tightened cost control.

Unit lifting costs reduced to $2.8 per bbl

3

Despite continued pressure from external factors,

Q3 EBITDA exceeded the pre-crisis Q1 level

4

The Company generated positive free cash flow

and continued to reduce debt

Over 80 mln shares and GDRs for a total of

5 c. $370 mln have been purchased under the share buyback program2

Note: (1) Come into force starting January 1, 2021, (2) Since the start of the Program as of November 6, 2020

7

Impact of New Tax Initiatives

CONTENT

SUBJECT

Cancellation of tax

Cancellation of MET relief

benefits for depleted

Option to switch to EPT provided (Group 3)

с. 57 mmt of crude produced at depleted fields in 2019

fields with an option to

subject to reduced MET rate

Provision of a 20% MET relief starting 2024

switch to EPT regime

Cancellation of tax

Russkoye,

benefits for high-vicious

Zero/reduced MET and export duty rates were replaced

oil and export duty

by the standard ones, an option to switch to EPT

Vostochno-Messoyakhskoye

holidays for certain

provided

Srednebotuobinskoye fields

projects

Introduction of an increased MET coefficient for the

Prirazlomnoye field

Revision of the EPT

fields included in Group 2

> 27 mmt of crude produced in 2019 at fields

parameters

Tax deductible historical costs, operating and capital

transferred to the EPT regime

expenses were limited

Reduction of the cut-off price for the MET deduction to

Vankor cluster - funds for the construction of the Vostok

$25/bbl Urals, zero MET period for greenfields

MET deduction for

Oil project infrastructure

extended to 16 years

certain projects

Provision of a MET deduction for the implementation of

Priobskoye field - up to Rub 460 bn (until 2032) to

finance the field development

an investment agreement

mixed impact

negative impact

positive impact

8

Operating Results

9

Key Operating Indicators

Liquids production,

kbd

4,674

4,0363,908

4,193

Q2'20 / Q3'20

9M'19 / 9M'20

Gas production, mmcmd

Refining throughput,

mmt

166.6162.6

182.2170.6

Q2'20 / Q3'20

9M'19 / 9M'20

7.31

8.22

74.59 69.96

2.51 2.94

21.49 22.52

Q2'20

Q3'20

9M'19

9M'20

in Russia

abroad

10

Navigating OPEC+ Environment

Crude oil production in Russia (2020), mmbd

6

11

Stage 2

Stage 1

5

9

4

7

3

5

2

3

jan feb mar apr may jun jul aug sep oct nov dec

  • The Company has started oil production cuts under the new OPEC+ agreement since May 2020
  • Production cuts on a pro rata basis
  • Stage 1 extended till the end of July 2020
  • Easing of restrictions starting August until December 2020 under Stage 2
  • Rapid production recovery in Stage 2 - a 6% increase already in early August
  • Commitment to successful execution of the chosen approach to cut production:
    • Asset selection (to cut production) is based on economic efficiency
    • Continued development of new fields
    • Efficient long-cycle wellworks to be continued according to schedule
    • Efficient well stock management

Rosneft (LHS)

Russia total (RHS)

11

Development of Key Oil Projects

Severo-Komsomolskoye field

Lodochnoye field

3Р (PRMS) reserves - 269 mmtoe1

The implementation of the 1st stage of full-scale field development (PK-1 horizon) has begun

Development drilling is in progress, 51 wells have been drilled as of September 30, 2020

Engineering preparation of the main facilities sites for the full-scale development of the field is underway

3Р (PRMS) reserves - 85 mmtoe

Pilot development programs are being implemented with connection to the facilities of the Vankor field

Development drilling is in progress, 41 well have been drilled as of September 30, 2020

Construction and installation work is underway at infrastructure facilities and oil and gas processing facilities

YaNAD

KhMAD

Erginskiy LA

3Р (PRMS) reserves - 89 mmtoe

Launch - Q3 2020, production plateau - ~4.5 mmt (2024)

Development drilling is in progress at 10 pads, 199 wells have been drilled as of September 30, 2020

A 79 km pressure pipeline welding is completed, the pipeline was put into operation, shipping of commercial oil to the Transneft system began

Construction of infrastructure facilities, pads, infield pipelines and electric power transmission lines is underway

Irkutsk

Region

Severo-Danilovskoye

3Р (PRMS) reserves - 101 mmtoe2

Launch - Q4 2020, production plateau - ~2 mmt2 (2024)

95 well to be drilled, 13 wells have been drilled as of September 30, 2020. The majority of wells will be horizontal

A 4 MW mobile power center was put into operation. The welding of the oil pipeline to the Verkhnechonskoye field is completed, preparatory work for hydraulic tests is underway

Construction of pads, infrastructure facilities and motor roads is underway

Note: (1) Reserves volume of the entire field; (2) Reserves volume and production plateau of the entire field

12

Gas Business

Gas production in Russia, bcm

(OPEC+ impact is limited by the amount of associated gas)

-8.1%

-5.2%

Decrease of

production in Russia

Decrease of the

46.0

Company's production

43.6

9M 2019

9M 2020

Gas sales volumes and average price

4.18

4.16

Average price

('000 Rub/mcm)

45.72

41.15

Volume (bcm),

3.65

including.:

3.15

Outside Russia

9M 2019

9M 2020

Gas sales revenues, Rub bn

191.3

171.0

9M 2019

9M 2020

  • The Company's 9M 2020 gas production declined by
    5.2% (YoY) compared to 8.1% total reduction in Russia1
  • The main growth driver is the Rospan project, which provides the largest incremental production increase for both gas and liquids
  • Projects development at Sibneftegaz and Kharampurneftegaz fields is in active phase
  • According to the Federal Antimonopoly Service gas prices for industrial consumers and citizens have been increased by 3% starting August 1, 2020
  • Decrease of revenues was caused by demand reduction following warm weather conditions as well as external factors that negatively influenced end consumers

Note: (1) Gas extracted less gas flared

13

Refining

Refining margins1, $/tonne

68.3

63.3

46.7

38.7

30.4

19.4

14.0

-24.8

-20.8

-11.7

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Europe

Russia

Key product prices less cost of feedstock, Russian refineries1, $/tonne

300

30

100

10

-100

-10

-300

-30

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Diesel

Fuel oil

Gasoline

Refining margin (RHS)

  • Negative refining margin in Russia in Q3 2020 was caused by poor market environment:
    • Crude oil prices recovery
    • Decrease of wholesale prices starting August
    • Damper effect that remained in the negative zone. While its figure was better than in Q2 2020 providing positive margin dynamics in Q3
  • Negative refining margin dynamics outside Russia in Q3 2020 was caused by crude oil prices recovery and reduction of key petroleum product crack spreads

Product output (mmt)

29.3

27.7

28.0

24.8

23.5

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Diesel

Fuel oil

Gasoline

Other

Outside Russia

Russia

Note: (1) Including the reverse excise tax on crude and damper for motor fuels. Prices for petroleum products are calculated «at the refinery gates»

14

Focus on Distribution Channels Development

Netbacks of the main crude oil marketing channels, $/tonne

Export, Asia

Export, Europe

Refining in Russia

Domestic market

420

340

260

180

100

Q1'19

Q2'19

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

  • In Q3 2020 crude oil supplies to non-CIS countries amounted to
    1. mmt, including crude oil supplies eastwards that reached
    1. mmt, i.e. 55.3% of total sales to non-CIS countries
  • In Q3 2020 crude oil exports to non-CIS countries amounted to
    1. mmt while the share of 1+ years term contracts amounted to over 90%
  • In Q3 2020 motor fuel sales via the exchange exceeded the required level by 3x times

Crude oil marketing breakdown, mmt

66.3

50.6

49.2

Export, West

24%

22%

21%

29%

26%

Export, Asia

29%

4%

Export, CIS

4%

4%

3%

3%

Domestic market

2%

Refining in Russia

41%

42%

46%

Q3'19

Q2'20

Q3'20

15

Financial Results

16

Key Financial Indicators

366Rub bn

Q3 2020 EBITDA

+18% vs.

pre-crisis Q1

352 9M 2020 free cash flow

Rub bn

-5.7

Reduction of debt and trading

$ bn

liabilities YTD

17

EBITDA and Net Income Dynamics

EBITDA Q3 2020 vs. Q2 2020, Rub bn

Q2 2020

170

Exchange rate

26

Crude oil price

157

Share in profits

14

of associates and JVs

Export duty lag

(8)

Other taxes

4

Number of days

6

Damper andMET rates

30

Change in volumes

(7)

Effect of provision

(23)

recovery in Q2 2020

OPEX

(9)

General costs

7

Exploration costs

(1)

Q3 2020

366

Net Income Q3 2020 vs. Q2 2020, Rub bn

Net income

43

attr. to shareholders

Q2 2020

2

Minorities

Q2 2020

45

EBITDA

196

DDA

Financial

expenses (net)

Other costs

Pandemic costs

Income tax

FX gains/losses

(282)

Q3 2020

(50)

Minorities

14

Net income

(64)

attr. to shareholders

Q3 2020

5

(29)

(5)

(1)

21

Costs Dynamics

Lifting costs, Rub/boe

Quarter

LTM average

% YoY

200

201

191

208

205

196

4.1%

2.5%

2.0%

-4.4%

-2.1%

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

General and administrative costs1, Rub/boe

Quarter

LTM average

% YoY

90

82

90

73

74

64

15.6%

2.3%

-8.2%

-3.9%

-21.0%

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Refining costs in Russia, Rub/bbl

Quarter

LTM average

% YoY

209

226

220

207

184

181

22.8%

2.2%

2.3%

-1.1%

0.0%

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Producer Price Index (annual basis), %

-0.6%

-5.6%

-1.7%

-11.6%

-1.4%

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

Note: (1) Excluding provisions

19

Strong Free Cash Flow

Free cash flow calculation, Rub bn

Crude oil price and free cash flow dynamics, LTM

Net cash provided

by operating activities

Reimbursement of

prepayments received

(historical FX rate)

625

217

4.25

4.11

Reimbursement of

other financial obligations

116

3.85

FX rate change effect

Interest on prepayments

Net change in operations

of subsidiary banks

Prepayments for

future supplies

Reimbursement of

prepayments granted

Adj. operating cash flow

CAPEX

Free cash flow

111

3.33

3.14

29

(180)

12

920

941

931

798

634

(9)

921

(569)

Q3'19

Q4'19

Q1'20

Q2'20

Q3'20

352

Free cash flow, Rub bn

Urals price, '000 Rub/bbl

20

Debt Optimization

Liquidity position as of September 30, 2020, $ bn

Financial debt breakdown as of September 30, 2020

19.3

Available credit lines

10.5

Liquid financial assets

31%

Rubles

Foreign currencies

48%

52%

Floating rates

Fixed rates

69%

Short-term financial

Available liquid

assets

assets

Gross debt and trading liabilities dynamics, $ bn

CBR key rate and LIBOR

YTD

7.75%

7.50%

2.81%

6.25%

2.34%

4.50%

4.25%

1.91%

0.30%

0.23%

-5.7

31.12.2018

30.06.2019

31.12.2019

30.06.2020

30.09.2020

Gross debt

Prepayments

Total

CBR key rate (LHS)

3M USD LIBOR (RHS)

21

CAPEX

CAPEX evolution, Rub trln

0.85

0.63

0.57

9M 2019

2019

9M 2020

2020

Plan

Revision of CAPEX, Rub trln

Following negative macro environment and production cuts the CAPEX program was optimized by 20%

The program still allows for fast project development recovery and production buildup whenever the market conditions change / production restrictions will be lifted

~1

Optimization in

Russia c. 0.2

2020

Upstream Downstream

Other

2020

Plan

Revised

Key areas for optimization

  • Postponing/eliminating less economically viable projects
  • Rising hurdle rates for certain groups of projects
  • Maintaining active pre-investment work on high- margin perspective projects

Projects in Russia

International projects

22

Appendix

23

Key Operational Highlights

Indicator

Q3 2020

Q2 2020

%

9M 2020

9M 2019

%

Hydrocarbon production, incl.

kboed

Liquids

kbpd

Gas

kboed

Oil refining

mmt

Product output in Russia

mmt

4,898

5,051

(3.0)%

5,232

5,783

(9.5)%

3,908

4,036

(3.2)%

4,193

4,674

(10.3)%

990

1,015

(2.5)%

1,039

1,109

(6.3)%

25.46

24.00

6.1%

78.18

81.90

(4.5)%

21.76

20.93

4.0%

67.76

72.06

(6.0)%

24

Key Financial Highlights

Indicator

Q3 2020

Q2 2020

%

9M 2020

9M 2019

%

EBITDA, Rub bn

366

170

>100%

845

1 617

(47.7)%

Net Income, Rub bn

attributable to Rosneft shareholders

Adjusted net income1, Rub bn

Adjusted operating cashflow2, Rub bn CAPEX, Rub bn

Free Cash Flow, Rub bn

EBITDA, $ bn

Net Income, $ bn

attributable to Rosneft shareholders

Adjusted net income1, $ bn

attributable to Rosneft shareholders

Adjusted operating cashflow2, $ bn

CAPEX, $ bn

Free Cash Flow, $ bn

Urals price, '000 Rub/bbl

(64)

43

>100%

(177)

550

>100%

108

(56)

-

86

733

(88.3)%

348

169

>100%

921

1 293

(28.8)%

202

182

11.0%

569

634

(10.3)%

146

(13)

-

352

659

(46.6)%

5.0

2.5

100.0%

12.4

24.8

(50.0)%

(0.8)

0.7

-

(2.1)

8.5

-

1.5

(0.8)

-

1.2

11.3

(89.4)%

4.7

2.4

95.8%

13.4

19.7

(32.0)%

2.7

2.5

8.0%

8.0

9.7

(17.5)%

2.0

(0.1)

-

5.4

10.0

(46.0)%

3.17

2.26

40.1%

2.89

4.17

(30.8)%

Note: (1) Adjusted for FX gains/losses and other one-off effects; (2) Adjusted for prepayments under long-term crude oil supply contracts (including accrued interest), net change in

25

operations of subsidiary banks and operations with trading securities (Rub equivalent)

EBITDA and Net Income Dynamics

EBITDA 9M 2020 vs. 9M 2019, Rub bn

Net Income 9M 2020 vs. 9M 2019, Rub bn

9M 2019

Exchange rate

Tax maneuver

completion

EPT effect

Crude oil price

Share in profits of

associates and JVs

Export duty lag

Transport tariffs

indexation

Damper and MET rates

Other taxes

Change in volumes

Recovery of provision accumulated in 2019

Sales mix and margin (trading)

OPEX and general costs

Exploration costs

Other

9M 2020

845

1,617

103

(36)

32

(456)

(40)

(58)

(13)

(200)

(10)

(169)

58

32

(6)

(4)

(5)

Net income

attr. to shareholders

9M 2019

Minorities

9M 2019

EBITDA

DDA

9

Financial expeses (net)

(26)

Other income

(3)

Other costs

42

Pandemic costs

(5)

Income tax

161

FX gains/losses

(180)

9M 2020

(148)

Minorities

29

Net income

(177)

attr. to shareholders

9M 2020

550

76

626

(772)

26

Calculation of Adjusted OCF

Profit and Loss Statement

Indicator

9M 2020,

$ bn

1

Revenue, incl.

62.6

Reimbursement of prepayments and other

6.3

financial obligations received

2

Costs and expenses, incl.

(57.4)

Reimbursement of prepayments granted

(0.1)

3

Operating profit (1+2)

5.2

4

Expenses before income tax

(7.2)

5

Income before income tax (3+4)

(2.0)

6

Income tax

0.3

7

Net income (5+6)

(1.7)

Cash Flow Statement

9M 2020,

Indicator

$ bn

(1.7)

Net income

1

7.0

Adjustments to reconcile net income to cash

2

flow from operations, incl.

Reimbursement of prepayments received

(4.6)

under crude oil and petroleum products supply

contracts

(1.7)

Reimbursement of other financial obligations

received

Reimbursement of prepayments granted

0.1 under crude oil and petroleum products supply contracts

4.3

Changes in operating assets and liabilities, incl.

3

(0.4)

Interest on prepayments under long- term

crude oil supply contracts

(0.3)

Income tax payments, interest and dividends

4

received

9.3

Net cash from operating activities (1+2+3+4)

5

(2.7)

Net change in operations of subsidiary banks

6

0.2

Prepayments for future supplies

7

6.6

Effect from prepayments

8

13.4

Adjusted operational cash flow (5+6+7+8)

9

27

Finance Expenses, Rub bn

Indicator

Q3 2020

Q2 2020

%

9M 2020

9M 2019

%

  1. Interest accrued1
  2. Interest paid and offset2
  3. Change in interest payable (1-2)
  4. Interest capitalized3
  5. Net loss from operations with financial derivatives4
  6. Increase in provision due to the unwinding of a discount
  7. Interest on prepayments under long-term oil and petroleum products supply contracts
  8. Change in fair value of financial assets
  9. Increase in loss allowance for expected credit losses on debt financial assets

10. Other finance expenses

Total finance expenses (1-4+5+6+7+8+9+10)

66

63

4.8%

194

215

(9.8)%

64

60

6.7%

190

211

(10.0)%

2

3

(33.3)%

4

4

-

32

32

-

100

121

(17.4)%

3

(4)

-

6

-

100.0%

6

6

-

18

14

28.6%

8

9

(11.1)%

29

56

(48.2)%

(1)

(20)

(95.0)%

1

-

100.0%

4

-

100.0%

5

3

66.7%

1

3

(66.7)%

7

9

(22.2)%

55

25

120.0%

160

176

(9.1)%

Note: (1) Interest accrued on credits and loans and other financial obligations, (2) Interest is paid according to the schedule, (3) Interests paid shall be capitalized in accordance with IAS

23 standard Borrowing Costs. Capitalization rate is calculated by dividing the interest costs for borrowings related to capital expenditures by the average balance of loans. Capitalized

interest shall be calculated by multiplying average balance of construction in progress by capitalization rate, (4) Net effect on operations with financial derivatives was related to FX

28

component fluctuations of cross-currency interest rate swaps.

Variance Analysis

9M 2020 EBITDA and net income sensitivity to +/- 10% change in Urals price, Rub bn

EBITDA

(113)113

Net income

  1. 90

-10%

40.8

+10%

$/bbl

9M 2020 EBITDA and net income sensitivity to +/- 10% change in Rub/$ exchange rate, Rub bn

EBITDA

(149)149

Net income

(119)119

-10%

70.8

+10%

Rub/$

Source: Company data

29

Questions & Answers

30

Disclaimer

OAO Neftyanaya Companiya ROSNEFT published this content on 13 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 November 2020 13:48:05 UTC


© Publicnow 2020
All news about PUBLIC JOINT STOCK COMPANY ROSNEFT OIL COMPANY
01/15MARKET CHATTER : Rosneft Looking at Oil Traders As Investors For Oil Project
MT
01/14ROSNEFT OIL : Company Statement
PU
01/13ROSNEFT OIL : Bashneft Plants Over 240,000 Conifer Seedlings in 2020
PU
01/13ROSNEFT OIL : Holds Pitch Day Online Exhibition of Domestic IT Solutions
PU
2020ROSNEFT OIL : RN-Krasnodarneftegaz Investments in Land Remediation to Amount to ..
PU
2020ROSNEFT OIL : Executives Discuss Corporate Safety and Accident-Free Product
PU
2020ROSNEFT OIL : Develops Environmentally Friendly Drilling Fluids Production Techn..
PU
2020ROSNEFT OIL : Deutschland starts supplies of new Alfabit grades with enhanced pe..
PU
2020Rosneft Oil Company Sets 2035 Target to Cut Upstream Emissions by 30%
DJ
2020ROSNEFT OIL : Announces climate goals to 2035
PU
More news
Financials (USD)
Sales 2020 78 080 M - -
Net income 2020 83,5 M - -
Net Debt 2020 55 021 M - -
P/E ratio 2020 -99,8x
Yield 2020 0,66%
Capitalization 65 909 M 65 909 M -
EV / Sales 2020 1,55x
EV / Sales 2021 1,27x
Nbr of Employees 335 000
Free-Float 11,2%
Chart PUBLIC JOINT STOCK COMPANY ROSNEFT OIL COMPANY
Duration : Period :
Public Joint Stock Company Rosneft Oil Company Technical Analysis Chart | ROSN | US67812M2070 | MarketScreener
Technical analysis trends PUBLIC JOINT STOCK COMPANY ROSNEFT OIL COMPANY
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 6,79 $
Last Close Price 6,94 $
Spread / Highest target 16,7%
Spread / Average Target -2,18%
Spread / Lowest Target -35,1%
EPS Revisions
Managers and Directors
NameTitle
Igor Ivanovich Sechin Deputy Chairman, President & CEO
Gerhard Schroeder Chairman
Petr Ivanovich Lazarev Finance Director
Artur Matthias Warnig Deputy Chairman
Robert W. Dudley Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
PUBLIC JOINT STOCK COMPANY ROSNEFT OIL COMPANY23.01%65 909
SAUDI ARABIAN OIL COMPANY-0.57%1 864 678
ROYAL DUTCH SHELL PLC14.89%154 108
TOTAL SE5.09%117 897
PETROCHINA COMPANY LIMITED7.50%113 974
GAZPROM6.26%72 647