Russia’s second-largest oil manufacturer, Lukoil, reported a 26.5% drop in web benefit for 2024, mentioning asset impairment losses and greater deferred taxes.
Lukoil posted a web benefit of 848.5 billion rubles ($10.1 billion) closing yr, down from 1.1 trillion rubles ($13.7 billion) in 2023. Earnings, then again, rose just about 9% to eight.6 trillion rubles ($102.1 billion) from 7.9 trillion rubles ($93.9 billion) the former yr.
“The gang known an impairment lack of 93.3 billion rubles in fastened belongings… 50.4 billion rubles associated with exploration and manufacturing belongings and 31.1 billion rubles in processing, business, and gross sales belongings out of the country,” Lukoil stated Monday.
Analysts at Moscow-based monetary products and services company Finam attributed the benefit decline to 109 billion rubles in deferred tax liabilities, following Russia’s resolution to impose a 25% company source of revenue tax price beginning in 2025.
Lukoil stocks fell via just about 1% for 3 consecutive days at the Moscow Inventory Change (MOEX) after the profits file used to be revealed.
On Tuesday, Lukoil’s board advisable a dividend payout of 541 rubles in line with proportion in keeping with 2024 effects, with June 3 proposed because the time limit for figuring out eligible shareholders.
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