15th Dec 2009 10:12
15 December 2009
OAO Tatneft published its consolidated interim condensed U.S. GAAP financial statements for the nine months of 2009
OAO Tatneft (the "Company") published today on its web-site
(http://www.tatneft.ru/wps/wcm/connect/tatneft/portal_eng/to_shareholders/information_disclosure/
consolidated_financial_statements/) the unaudited interim condensed consolidated financial statements for the nine months of 2009 prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") (the "Financial Statements") and related Management Discussion and Analysis of Results of Operations (the "MD&A").
Selected financial highlights below are based on the respective U.S. GAAP financial statements of the Company. These highlights do not replace the Financial Statements or the MD&A and all interested persons are encouraged to read these documents for full understanding of the nine months of 2009 U.S. GAAP results. Russian Ruble amounts below have been translated into U.S. Dollars, for revenue and net income at the average exchange rate during the respective reporting period, and for balance sheet items at the exchange rate on the last day of the respective reporting period.
The Company's consolidated revenues in the nine months of 2009 were 273,683 million Rubles (US$ 8,426 million) as compared to 378,066 million Rubles (US$ 15,720 million) in the same period of 2008. The consolidated net income for the nine months of 2009 was 47,151 million Rubles (US$ 1,452 million) as compared to 30,397 million Rubles (US$ 1,264 million) in the nine months of 2008.
Total consolidated assets of the Company increased from 392,980 million Rubles (US$ 13,376 million) as of December 31, 2008, to 473,271 million Rubles (US$ 15,729 million) as of September 30, 2009.
Total consolidated liabilities of the Company increased from 128,121 million Rubles (US$ 4,361 million) as of December 31, 2008, to 168,617 million Rubles (US$ 5,604 million) as of September 30, 2009.
Total consolidated shareholders' equity increased from 260,276 million Rubles (US$ 8,859 million) as of December 31, 2008, to 296,953 million Rubles (US$ 9,869 million) as of September 30, 2009.
The Company's representatives will discuss the U.S. GAAP financial highlights for the nine months of 2009 on a conference call on 16 December 2009 at 5.00 p.m. Moscow time, 2.00 p.m. UK time, 9.00 a.m. EST.
To participate in the conference call please dial the following numbers: in the United Kingdom +44 20 3140 8286, in Russia +7 495 705 9451, in the US +1 718 354 1358; using PIN 7944650. The conference call replay will be available after the call until 22 December 2009 by dialing +44 20 7111 1244 in the U.K., 810 800 2870 1012 (free phone) in Russia, +1 347 366 9565 in the U.S., using PIN 7944650.
Forward-looking statements: These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. OAO Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.
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