By Joe Hoppe
Gazprom PJSC said Thursday that its pretax profit and sales fell in 2020 on the back of a drop in gas volumes sold and lower prices.
The Russian gas giant said pretax profit fell to 133.47 billion Russian rubles ($1.79 billion) in the year from RUB1.627 trillion in 2019.
Total net sales slumped to RUB6.322 trillion, from RUB7.66 trillion a year prior. The company mainly attributed the fall to a 27% decline in the net average price and volume of gas sold to its "Europe and other countries" segment. Meanwhile, net sales of gas to former Soviet Union states slipped 17% in the year.
Adjusted earnings before interest, taxes, depreciation and amortization fell by 21% year-on-year to RUB1.467 trillion.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
04-29-21 0630ET