Gazprom Net Down 4%, Revenue Grows 5% On Year

May 1, 2013

Russia's OAO Gazprom (>> Gazprom OAO), the world's largest natural-gas producer, said Tuesday its fourth-quarter 2012 net profit decreased 4% while total sales rose 5%, compared to the same period a year ago, according to Dow Jones.

Earlier on Tuesday, the company disclosed its full-year results, saying its 2012 net profit fell 9.5% on lower gas sales to Europe and retroactive discounts to European customers.

In a presentation published after full-year results, state-controlled Gazprom said net profit attributable to its shareholders totaled RUB369 billion ($11.9 billion) in the three months to Dec. 31. An Interfax survey of five analysts had forecast net profit would be 354 billion rubles.

The company's revenue rose 5% to 1.41 trillion rubles in the last three months of 2012, above analysts' forecasts of 1.33 trillion rubles.

Its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell 16% on year to RUB468 billion.

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