Published on: 2026-11-05
Source: NOVATEK – Novatek – An important disclaimer is at the bottom of this article.
NOVATEK reported financial results for the first half of 2026
Moscow, July 24, 2026. PJSC “NOVATEK” today published its disclosed consolidated interim condensed financial statements as of and for the six months ended June 30, 2026.
Our revenue from sales and normalized EBITDA including share in EBITDA of joint ventures for the six months ended June 30, 2026, amounted to 836.3 billion rubles and 430.4 billion rubles respectively, increasing by 4.0% and decreasing by 8.8% respectively compared to the same period in 2025. Normalized profit attributable to shareholders of PJSC NOVATEK, excluding the effect of foreign exchange differences, amounted to 216.5 billion rubles for the first half of 2026, which is 8.7% lower than the figure for the first half of 2025.
Net cash provided by the Group’s operating activities amounted to 172.2 billion rubles for the six months of 2026, decreasing by 12.0% compared to the same period in 2025. Cash used for capital expenditures was 91.7 billion rubles for the first half of 2026, which is 20.0% higher than the figure for the first half of 2025.
Key Performance Indicators
(in millions of Russian rubles, unless otherwise indicated)
|
1P 2026 |
1P 2025 |
|
|
Financial indicators |
||
|
Revenue from sales |
836,336 |
804,320 |
|
Operating expenses |
(658,102) |
(628,438) |
|
Normalized EBITDA |
430,402 |
471,806 |
|
Profit attributable to PJSC NOVATEK shareholders |
218,664 |
225,697 |
|
Profit attributable to PJSC NOVATEK shareholders, normalized excluding the effect of foreign exchange differences |
216,494 |
237,057 |
|
Long-term assets |
2,891,628 |
3,170,716 |
|
Long-term liabilities |
325,521 |
359,999 |
|
Net debt (net cash position) |
(43,511) |
108,379 |
|
Production volume |
||
|
Hydrocarbon production (million barrels of oil equivalent) |
346 |
337 |
|
Average daily production (million barrels of oil equivalent per day) |
1.91 |
1.86 |
|
Cash flow |
||
|
Net cash funds, |
172,249 |
195,689 |
|
Funds used |
91,740 |
76,439 |
The disclosed consolidated interim condensed financial statements of PJSC NOVATEK and the notes thereto are available on the PJSC NOVATEK website (www.novatek.ru).
Public Joint Stock Company “NOVATEK” is one of the largest independent natural gas producers 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 is engaged in exploration, production, processing, and sales of gas and liquid hydrocarbons. The fields and licensed areas of NOVATEK’s subsidiaries and affiliates are mainly located in the Yamalo-Nenets Autonomous Okrug, the world’s largest natural gas production region, accounting for about 80% of gas production in Russia and approximately 15% of the world’s total gas production. NOVATEK is a public joint-stock company established under the laws of the Russian Federation.
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