Revenue of Gazprom increases by 25% in 2024
Pulling a whopping profit, Gazprom rakes in 1.219 trillion rubles in net profit for 2024
In a remarkable turnaround, Russian energy giant Gazprom reported a staggering net profit of 1.219 trillion rubles for the year 2024, a drastic shift from the 629 billion ruble loss in 2023. This financial triumph is evident in Gazprom's annual report, adhering to the International Financial Reporting Standards (IFRS).
Besting its own records, Gazprom's overall revenue soared by a robust 25% to hit an impressive 10.7 trillion rubles in 2024, marking the second-highest result in the company's history.
Gazprom's financial muscles swelled even further, with EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) growing a whopping 76% to an astounding 3.1 trillion rubles by the year's end. Moreover, the company's debt-to-EBITDA ratio took a nosedive, dropping from 2.8 in 2023 to a more manageable 1.8.
Famil Sadygov, Gazprom's Deputy Chairman of the Management Board, shed light on the gas business as the primary engine behind the company's success in 2024. External sales revenue in this segment reached a staggering 5.8 trillion rubles. The oil business also contributed significantly, with 4.08 trillion rubles.
Sadygov highlighted that the fourth quarter played a crucial role in propelling Gazprom's annual results, traditionally being a powerful period for the company due to seasonality. In October-December 2024, Gazprom's EBITDA reached a record-breaking 966 billion rubles, making it one of the highest quarterly figures in the company's history. The quarter's revenue stood at 3.215 trillion rubles, while net profit hit a healthy 229 billion rubles.
For more precise quarterly financial data, consult Gazprom's official reports or announcements, as they usually provide more detailed quarterly breakdowns for revenue, EBITDA, and net profit. Keep an eye on rbc.group for updates on Gazprom's financial performance.
Gazprom, the Russian energy giant, reported a significant improvement in its financial performance during 2024, compared to the loss of 629 billion rubles in 2023. The company's net profit for the year increased to an impressive 1.219 trillion rubles. The quarterly EBITDA in October-December 2024, a traditionally strong period for Gazprom due to seasonality, reached a record-breaking 966 billion rubles. Furthermore, the company's net profit for the last quarter of 2024 was 229 billion rubles. This profitable performance in 2024 was a remarkable shift from the industry norms and was evident in Gazprom's annual report, which adheres to the International Financial Reporting Standards (IFRS).
