Gazprom reported its first annual loss in a quarter of a century. It amounted to 629 billion rubles against a profit forecast of 447 billion rubles. The last time the company posted a loss for the year was in 1999.
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Gazprom’s net loss at the end of 2023 amounted to 629 billion rubles. This is indicated in the company’s financial statements under IFRS.
A year earlier, Gazprom made a net profit of 1.2 trillion rubles. The consensus forecast assumed Gazprom’s net profit of 447 billion rubles by 2023.
Gazprom’s revenue in 2023 decreased by 27% year-on-year and amounted to 8.5 trillion rubles, the company reported EBITDA of 618 billion rubles. The company also warned of a possible reduction in investment in 2024 of 16%.
Gazprom recorded a net loss at the end of the year for the first time since 1999. Then the company’s losses amounted to 79.2 billion rubles.
Gazprom shares fell against the background of the publication of financial statements and at the time of publication of the material showed a decrease of 3.2%.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
