Rosneft reports on the results of its work in 2024

Rosneft's revenue for 2024 exceeded 10.1 trillion rubles, an increase of almost 11% compared to the same period last year. This is stated in the company's report, prepared in accordance with International Financial Reporting Standards (IFRS).

According to the financial results, EBITDA amounted to 3 trillion rubles, and the EBITDA margin increased by almost 30%.

The company noted that the revenue and EBITDA figures were record-breaking for Rosneft.

The unit cost of hydrocarbon production amounted to $2.9 per barrel of oil equivalent.

The net profit attributable to Rosneft shareholders exceeded 1 trillion rubles in 2024, which is 14.4% less than in 2023. This is "primarily due to an increase in debt financing rates, as well as non-monetary factors, including the exchange rate revaluation of foreign currency liabilities and the effect of changes in the income tax rate," Rosneft said.

Capital expenditures in 2024 amounted to 1.4 trillion rubles, which is 11.2% higher year-on-year. At the same time, the free cash flow in the reporting period amounted to 1.3 trillion rubles.

The ratio of net debt to EBITDA at the end of last year did not change compared to the value of the third quarter, amounting to 1.2x, despite "new negative factors of macroeconomic impact," the company concluded.