Tatneft: The consolidated net for 2010 was 46,673 million Rubles (US$ 1,537 million)

Апреля 26, 2011

Tatneft published today the audited consolidated financial statements for the year ended December 31, 2010 prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) 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 2010 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 2010 were 468,032 million Rubles (US$ 15,411 million) as compared to 380,648 million Rubles (US$ 12,000 million) in 2009. The consolidated net income attributable to Group shareholders for 2010 was 46,673 million Rubles (US$ 1,537 million) as compared to 54,372 million Rubles (US$ 1,714 million) in 2009.
Total consolidated assets of the Company increased from 495,742 million Rubles (US$ 16,394 million) as of December 31, 2009, to 567,179 million Rubles (US$ 18,608 million) as of December 31, 2010.
Total consolidated liabilities of the Company increased from 182,235 million Rubles (US$ 6,026 million) as of December 31, 2009, to 216,633 million Rubles (US$ 7,107 million) as of December 31, 2010.
Total consolidated shareholders’ equity increased from 313,507 million Rubles (US$ 10,367 million) as of December 31, 2009, to 350,546 million Rubles (US$ 11,501 million) as of December 31, 2010.