Published on: 2026-04-11
Source: NOVATEC – Novatec – An important disclaimer is at the bottom of this article.
“NOVATEK” reported on the financial results for 2025
Moscow, February 11, 2026.PJSC “NOVATEK” today published its disclosed consolidated financial statements for the year ended December 31, 2025.
Our revenue indicators from sales and normalized EBITDA considering the share in EBITDA of joint ventures amounted to 1,446 billion rubles and 859 billion rubles respectively in 2025, decreasing by 6.5% and 14.7% compared to 2024. Normalized profit attributable to the shareholders of PJSC NOVATEK, excluding the effect of exchange rate differences, amounted to 207 billion rubles in 2025 compared to 553 billion rubles in 2024. One-time non-cash items had a significantly negative impact on the Group’s normalized profit in 2025, the effect of which amounted to 301 billion rubles.
Net cash generated from the Group’s operating activities amounted to 503 billion rubles in 2025 compared to 357 billion rubles in 2024, an increase of 40.9%. Cash used for capital expenditures amounted to 150 billion rubles in 2025, which is 22.1% lower than the figure for 2024.
Key performance indicators
(in millions of Russian rubles, unless otherwise indicated)
| Â |
2025 years |
2024 years |
|
Financial indicators |
 |  |
|
Revenue from sales |
1,445,593 |
1,545,851 |
|
Operating expenses |
(1,132,469) |
(1,175,881) |
|
Normalized EBITDA |
859,306 |
1,007,614 |
|
Profit attributable to shareholders of PJSC “NOVATEK” |
183,027 |
493 491 |
|
Profit attributable to the shareholders of PJSC NOVATEK, normalized excluding the effect of exchange rate differences |
206,548 |
553,402 |
|
Long-term assets |
2,818,673 |
3,105,657 |
|
Long-term liabilities |
323,609 |
397,700 |
|
Net debt (net cash position) |
(39,270) |
141,607 |
|
Mining volume |
 |  |
|
Hydrocarbon production (million boe) |
673 |
667 |
|
Average daily production (million barrels per day) |
1.84 |
1.82 |
|
Movement of funds |
 |  |
|
Clean money, |
503,328 |
357,142 |
|
Funds used |
150,253 |
192,970 |
The disclosed consolidated financial statements of PJSC “NOVATEK” and the notes thereto are available on the official website of PJSC “NOVATEK” (www.novatek.ru).
PJSC “NOVATEK” is one of the largest independent producers of natural gas in Russia. In 2017, the Company entered the international LNG market following the successful launch of the “Yamal LNG” project. Founded in 1994, the Company engages in exploration, production, processing, and sale of gas and liquid hydrocarbons. The fields and licensed areas of NOVATEK’s subsidiaries and affiliated companies are predominantly located in the Yamalo-Nenets Autonomous Okrug, the largest natural gas production region in the world, which accounts for about 80% of Russia’s gas production and approximately 15% of the world’s total gas production.”NOVATEK” is a public joint-stock company established in accordance with the legislation of the Russian Federation.
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