Gazprom Returns to Profit in 2024 After Record Loss

Gazprom Returns to Profit in 2024 After Record Loss

Russia’s state energy giant Gazprom said Wednesday it returned to profit in 2024 after posting a record net loss the previous year.

Energy giant Gazprom ended 2024 with a pre-tax profit of 1.66 trillion rubles, rebounding spectacularly from a huge loss of 659 billion rubles in 2023. However, the positive result was influenced by a number of accounting factors and does not reflect a solid return to core operations, according to the consolidated annual financial report, prepared under IFRS standards. Total sales revenue was about 8.96 trillion rubles, down from 2023, a sign th…

Gazprom reports $14.8bn net profit for 2024

Gazprom has reported a significant rebound in its financial performance for 2024, registering a net profit of Rbs1.2tn ($14.76bn).

Russian gas giant Gazprom said its net profit attributable to shareholders in 2024 was about $15 billion. Gazprom had posted a loss of about $7.7 billion a year earlier, Tass reported. The Russian company said the profit was largely driven by a reduction in negative exchange rate differences on foreign exchange liabilities. The post Gazprom posts profit of about $15 billion in 2024 appeared first on Biznis Info.

Russian gas giant Gazprom, which has the world's largest natural gas reserves, was in the black again last year. Sales last year rose by a quarter to 10.7 trillion roubles (about $2.889 trillion), which was its second-highest result so far, according to the firm. Earnings before interest, taxes and depreciation rose 76 percent to 3.1 trillion rubles.

The company has the largest natural gas reserves in the world