Nizhnekamskneftekhim's profit under IFRS in the first half of the year increases sixfold and amounts to 27.630bn rub

Revenue amounts to 121,511 billion rubles

According to the published data, the revenue of Nizhnekamskneftekhim Group for the six months of 2021 amounted to 121,511 billion rubles, which is by 51,298 billion rubles more than in the same period last year — 70,213 billion rubles. Gross profit increased by 21,856 billion rubles and amounted to 38,293 billion rubles — against 16,437 billion rubles. The profit for the six months of this year amounted to 27,630 billion, which is six times more than for the same period of 2020 — 4,598 billion rubles.

The Group's assets increased to 298,967 billion rubles, compared to 268,602 billion rubles as of December 31, 2020. The main growth, according to the reports, was due to an increase in the item 'Fixed assets', the reported value of which as of June 30, 2021 amounted to 217,621 billion rubles, since Nizhnekamskneftekhim PJSC is in the active phase of implementing the large-scale strategic development programme.

According to the company's IFRS reports, in the first half of 2021, the economy of the Russian Federation demonstrated the dynamics of recovery from the pandemic, mainly due to increased household consumption and public investment. High prices on the world commodity markets, as well as the global economic recovery, contributed to the economic recovery of Russia.

Revenue from the sale of products amounts to 117,794 billion rubles

The revenue of Nizhnekamskneftekhim Group from the sale of products for 6 months of 2021 amounted to 117,794 billion rubles — against 66,386 billion for the same period of 2020. Products and services worth 69,171 billion rubles were sold to the domestic market, which is by 33,586 billion more than in the same period of 2020 — 35,585 billion rubles. Finished products and services were sold for exports in the amount of 52,262 billion rubles (for the same period in 2020 — 34,552 billion rubles). The group mainly exports its products to Europe, Asia, etc.

Revenue from the sale of synthetic rubbers for the six months of 2021 increased to 39,418 billion rubles (against 25,627 billion for the same period in 2020). Plastics sales, compared to the first half of 2020, increased by 20,300 billion rubles and amounted to 43,337 billion rubles — 23,037 billion last year.

The sales of other petrochemical products, including sales of glycols, polyesters, surfactants, monomers and others, amounted to 36,9 billion rubles, in 2019 — 44 billion rubles. Revenue from the sale of other products amounted to 1,201 billion rubles — against 995 million rubles in the first half of 2020.

The profit from foreign exchange differences for the first half of 2021 amounted to 4,033 billion rubles — against a loss of 4,485 billion rubles for the same period last year. Taking into account the revaluation of credit obligations, indebtness under long-term loans and borrowings increased to 103,533 billion rubles, as of December 31, 2020, it amounted to 97,101 billion rubles. As indicated in the financial statements, the Group has attracted loans from the consortium of German banks organised by Deutsche Bank AG and from Alfa-Bank JSC.

Nizhnekamskneftekhim Group continues to implement its main investment projects — the construction of the olefin complex and its own CCGT-TPP power plant. Petrochemists are also systematically working to expand the range of products, modernise production facilities. For example, since the beginning of 2021, the company has released four new innovative products — synthetic rubber of the fifth generation DSSK, SKD-777 rubber, TEP thermoplastics, and H-PEG-2400 polyethylene glycol.

Financial statements of Nizhnekamskneftekhim Group in terms of revenue and profit in the first half of 2021 are record-breaking in the entire history of the Company and are comparable to the best annual values of the indicators of Nizhnekamskneftekhim in previous years.

Lilia Yegorova

Подписывайтесь на телеграм-канал, группу «ВКонтакте» и страницу в «Одноклассниках» «Реального времени». Ежедневные видео на Rutube, «Дзене» и Youtube.