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MarketScreener Homepage  >  Equities  >  Moscow Micex - RTS  >  Gazprom    GAZP   RU0007661625

GAZPROM

(GAZP)
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Gazprom swings to net loss of $3.3 bln in Q3, ups 2020 exports outlook

11/30/2020 | 02:31am EST

MOSCOW, Nov 30 (Reuters) - Russian gas giant Gazprom incurred a loss of 251.3 billion roubles ($3.3 billion) in the third quarter due to the weak rouble, the company said on Monday, while it also raised its outlook for gas exports to Europe, a key source of revenue.

The loss is compared to a net profit of 211.8 billion roubles in the same three months of 2019.

Russian companies, which carry debt denominated in foreign currency, have suffered losses due to the devaluation of the Russian rouble, which fell due to the pandemic.

Gazprom, which accounts for around 34% of the European gas market, reports earnings in roubles.

The gas producer said its net foreign currency-related loss stood at 464.3 billion roubles in the third quarter from a profit in the year-earlier period.

The Kremlin-controlled company also reported a decline in sales in Russia and Europe. Its average gas exporting price in the third quarter fell to $117.2 per 1,000 cubic metres from $169.8 in the same period last year.

Later on Monday, a company senior manager told a conference call for investors that Gazprom now sees its gas exports to Europe and Turkey in 2020 at around 171-172 billion cubic metres (bcm), up from a previous forecast of 170 bcm.

That's still below its record-high of more than 200 bcm, exported in 2018, and around 199 bcm in 2019.

It also sees its average exporting gas prices to recover to $128-$130 per 1,000 cubic metres this year,

Gazprom said its revenue in the July-September quarter declined to 1.4 trillion roubles from 1.6 trillion roubles a year earlier. ($1 = 76.2775 roubles) (Reporting by Vladimir Soldatkin and Oksana Kobzeva; Editing by Kirsten Donovan, Louise Heavens and Jonathan Oatis)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
GAZPROM 1.00% 228.25 End-of-day quote.7.32%
GAZPROM NEFT -0.45% 339.8 End-of-day quote.7.21%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.24% 73.71134 Delayed Quote.-0.05%
US DOLLAR / TURKISH LIRA (USD/TRY) -0.38% 7.44502 Delayed Quote.0.64%
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Financials (USD)
Sales 2020 83 903 M - -
Net income 2020 2 680 M - -
Net Debt 2020 51 814 M - -
P/E ratio 2020 216x
Yield 2020 4,34%
Capitalization 73 052 M 73 022 M -
EV / Sales 2020 1,49x
EV / Sales 2021 1,31x
Nbr of Employees 473 800
Free-Float 50,5%
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Technical analysis trends GAZPROM
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 11
Average target price 3,30 $
Last Close Price 3,09 $
Spread / Highest target 34,0%
Spread / Average Target 6,66%
Spread / Lowest Target -22,3%
EPS Revisions
Managers and Directors
NameTitle
Alexei Borisovich Miller Deputy Chairman & Chairman-Management Board
Viktor Alexeevich Zubkov Chairman
Timur Askarovich Kulibayev Independent Director
Vladimir Alexandrovich Mau Director
Andrey Igorevich Akimov Director
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