Sibur 2013 EBITDA falls 4.2%

19 Mar '14

2 min read

OAO SIBUR Holding, an integrated gas processing and petrochemicals company, published its operational and financial results for the year ended 31 December 2013 in accordance with International Financial Reporting Standards (IFRS).

Operational and financial highlights

-Associated petroleum gas (APG) processing volumes increased by 4.8% year-on-year

-Raw natural gas liquids (raw NGL) production increased by 13.6% year-on-year

-Natural gas sales volumes increased by 12.0% year-on-year

-Revenue remained flat compared to 2012

-An increase in revenue from sales of energy products, basic polymers, plastics and organic synthesis products compared to declining revenue from sales of synthetic rubbers, intermediates & other chemicals

-EBITDA decreased by 4.2% year-on-year

-Net cash from operating activities increased by 16.1% year-on-year

-Adjusted profit decreased by 15.2% year-on-year

Operational Results

In 2013, SIBUR’s gas processing plants (GPPs), including GPPs operated by OOO Yugragazpererabotka, processed 19.6 billion cubic metres of APG, an increase of 4.8% year-on-year. As a result, production of natural gas rose by 3.6% year-on-year to 17.0 billion cubic metres. Raw NGL production increased by 13.6% year-on-year to 5.3 million tonnes.

SIBUR increased sales volumes of the majority of its energy products primarily due to increased hydrocarbon feedstock processing. Natural gas sales volumes rose by 12.0% year-on-year to 11.8 billion cubic metres. External sales of NGLs, including liquefied petroleum gases (LPG), naphtha and raw NGL, rose 18.3% year-on-year to 4.8 million tonnes. Sales volumes of petrochemical products totaled 2.1million tonnes, a decrease of 6.3% year-on-year.

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SIBUR

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