OREANDA-NEWS. Rosneft publishes consolidated IFRS financial statements for 9M 2013

Q3 2013 revenues (including equity share in profits of associates and joint ventures) have gone up by 15.3% reaching RUB 1,356 bln. The main driver behind revenue growth has been bigger gas and petroleum product sales accompanied by a favorable price environment in the global market.

Effective cost control and advantage taken of the new asset synergies have ensured

Q3 2013 EBITDA growth by 40.9% sending it to a record-high level of RUB 303 bln. The growth has also been assisted by a positive export-duty lag effect.

Rosneft's Q3 2013 net income totaled RUB 280 bln, including gain from TNK-BP net asset revaluation worth RUB 167 bln. Taken without the latter effect, the net income have more than tripled vs Q2, 2013. FOREX gain on ruble appreciation against USD has also come into play.

All this has resulted in Rosneft generating a free cash flow worth RUB 84 bln and paying its shareholders record-high dividends of RUB 85 bln in Q3 2013.