💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Gazprom's Q2 net income sinks 80% on stronger ruble

Published 08/30/2017, 08:59 AM
© Reuters.  Gazprom's Q2 net income sinks 80% on stronger ruble
GAZPq
-
  • Gazprom (OTCPK:OGZPY) says its Q2 net income fell by more than 80% Y/Y to 47.9B rubles ($817M) due to losses related to foreign exchange rates, missing analyst forecasts.
  • Gazprom reports a net foreign exchange loss of 140.5B rubles during the period, compared with a forex gain of 152B rubles a year ago; nearly 80% of the company’s debt is foreign denominated.
  • The Russian company says it supplied 53.5B cm of gas to countries outside the former Soviet Union, mainly EU markets, during the quarter, up 4% Y/Y, but the average price of the deliveries fell 3.5%, reflecting the strengthening of the ruble.
  • Gazprom also warns on the impact of new U.S. sanctions, which are seen as endangering its Nord Stream 2 pipeline to Germany.
  • Now read: Gazprom Is Ridiculously Cheap


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.