Economy · Breaking
Novatek's first half net profit decreased! While revenues increased, profitability decreased
- While the company's revenues increased, its net profit and operating profitability decreased compared to the same period last year.
- According to the company's statement, revenues in the first six months of the year increased by 3.9 percent compared to the same period last year, reaching 836.3 billion rubles.
- The company's net profit decreased by 3.1 percent compared to the same period last year, falling to 218.7 billion rubles.
Novatek, Russia's largest independent natural gas producer, announced its financial results for the first half of 2026. While the company's revenues increased, its net profit and operating profitability decreased compared to the same period last year. According to the company's statement, revenues in the first six months of the year increased by 3.9 percent compared to the same period last year, reaching 836.3 billion rubles.
Novatek's adjusted earnings before interest, depreciation and tax (EBITDA), including its share in joint ventures, decreased by 8.8 percent in the first half to 430.4 billion rubles. The company's net profit decreased by 3.1 percent compared to the same period last year, falling to 218.7 billion rubles. This amount corresponds to approximately 2.8 billion dollars.
Novatek is among the companies that stand out in the Russian energy sector, especially with its liquefied natural gas (LNG) production. LNG imports from the European Union from the company's Yamal LNG project reached a record level, reaching 9.9 million tons in the first half of the year. Economic News - Russia.
Source: CNN Türk