Extract from ZARUBEZHNEFT GROUP’s consolidated financial statements and information about the auditor for the reporting year
Zarubezhneft annually engages external auditors to audit its consolidated financial statements prepared in accordance with IFRS. The audit organization was selected to audit ZARUBEZHNEFT GROUP’s consolidated financial statements for 2019–2020 by conducting an open request for proposals in accordance with the requirements of Federal Law No. 223-FZ dated July 18, 2011 “On the Procurement of Goods, Work, and Services by Separate Types of Legal Entities”.
Deloitte & Touche CIS won the tender and was hired as the auditor of ZARUBEZHNEFT GROUP’s consolidated financial statements for 2019–2020. Deloitte & Touche CIS conducts quality control of audit assignments as of the date of issuance of the audit opinion and prior to this, and also verifies and monitors the quality of audit documentation on audits that have been completed. The cost of services of Deloitte & Touche CIS for the audit of the consolidated financial statements for 2020 amounted to RUB 11,159,000.
The Federal Treasury and the Self-Regulatory Organization of Auditors, in which the auditor is a member, regularly confirm the auditor’s independence.
Consolidated profit and loss statement and other total income for the year ended on december 31, 2020
EXTRACT FROM ZARUBEZHNEFT GROUP’S CONSOLIDATED IFRS FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020, RUB MLN
RUB MLN | 2020 | 2019 |
---|---|---|
Sales revenue and income from joint operations | ||
Sales of oil, gas, and petroleum products | 60,696 | 65,300 |
Ancillary services and other sales | 12,495 | 9,521 |
Revenues from joint ventures | 9,742 | 18,068 |
Total sales revenue and income from joint operations | 82,933 | 92,889 |
Costs and expenses | ||
Cost of purchased oil, gas, and petroleum products | (41,560) | (40,637), |
Production and operating costs | (16,621) | (16,302), |
Commercial, general, and administrative expenses | (5,825) | (6,331) |
Taxes, except income tax | (4,649) | (5,543) |
Export, depletion, and depreciation | (6,599) | (4,606) |
Transportation costs | (1,981) | (1,715) |
Geological survey costs | (274) | (211) |
Export duty | (306) | (342) |
Other income/(expenses), net | 908 | 2,395 |
Profit from operating activities | 6,026 | 19,597 |
Expenses on devaluation of assets, net | (1,110) | (413) |
Income (expenses) from revaluation of foreign currency derivative financial instruments at fair value | (896) | (186) |
Financial income | 1,549 | 999 |
Financial expenses | (721) | (806) |
Exchange rate differences, net | 5,025 | (2,918) |
Profit before income tax | 9,873 | 16,273 |
Current income tax | (2,329) | (1,888) |
Deferred income tax | 1,689 | (932) |
NET PROFIT FOR THE YEAR | 9,233 | 13,453 |
Net profit/(loss) for the year, belonging to: | ||
The shareholder of the parent company | 9,940 | 13,310 |
Non-controlling interests | (707) | 143 |
NET PROFIT FOR THE YEAR | 9,233 | 13,453 |
OTHER TOTAL INCOME/(EXPENSE) | ||
Items to be reclassified as profit or loss | ||
The effect of conversion into the presentation currency | 13,755 | (7,257) |
Other aggregate income/(expense) for the year excluding income tax | 13,755 | (7,257) |
TOTAL AGGREGATE INCOME FOR THE YEAR | 22,988 | 6,196 |
Total aggregate income/(expenditure) for the year belonging to: | ||
The shareholder of the parent company | 24,099 | 5,426 |
Non-controlling interests | (1,111) | 770 |
22,988 | 6,196 |
Consolidated statement of financial position as of december 31, 2020
ASSETS | December 31, 2020 | December 31, 2019 |
---|---|---|
Non-current assets | ||
Fixed assets | 55,450 | 40,924 |
Investments in joint ventures | 88,382 | 74,822 |
Debt securities | 6,352 | 4,230 |
Deferred tax assets | 3,004 | 835 |
Contributions to the liquidation fund | 2,012 | 1,511 |
Other non-current assets | 2,810 | 1,517 |
158,010 | 123,839 | |
Current assets | ||
Stocks | 4,046 | 4,427 |
Trade and other receivables | 8,052 | 5,396 |
Dividend debt | 3,312 | 5,162 |
Refundable taxes and prepayment of taxes | 1,374 | 1,510 |
Loans issued | 5,175 | 4,160 |
Debt securities | 9,720 | 6,861 |
Deposits, cash, and cash equivalents | 29,843 | 35,387 |
Other current assets | 1,321 | 1,146 |
62,843 | 64,049 | |
TOTAL ASSETS | 220,853 | 187,888 |
OWN CAPITAL AND LIABILITIES | ||
Capital and reserves | ||
Charter capital | 50,729 | 50,729 |
Other reserves | 15,439 | 14,310 |
Reserve of conversion to the presentation currency | 36,443 | 22,284 |
Retained earnings | 59,840 | 57,684 |
Share capital of the parent company | 162,451 | 145,007 |
Non-controlling shares | (8,339) | (8,207) |
TOTAL CAPITAL AND RESERVES | 154,112 | 136,800 |
Long-term liabilities | ||
Long-term loan liabilities | 16,795 | 14,743 |
Long-term valuation liabilities | 15,917 | 10,988 |
Deferred tax liabilities | 6,119 | 5,447 |
38,831 | 31,178 | |
Short-term liabilities | ||
Short-term loan liabilities | 11,845 | 6,441 |
Trade and other accounts payable | 12,542 | 9,859 |
Short-term valuation liabilities | 1,784 | 1,424 |
Tax liabilities | 1,366 | 1,457 |
Other short-term liabilities | 373 | 729 |
27,910 | 19,910 | |
TOTAL OBLIGATIONS | 66,741 | 51,088 |
TOTAL CAPITAL AND LIABILITIES | 220,853 | 187,888 |