Tatneft profit to RAS falls 41.2% in H1 to 66.8 bln rubles, vs forecast of 70.3 bln rubles

MOSCOW. Aug 1 (Interfax) - Tatneft saw its net profit to Russian Accounting Standards (RAS) fall 41.2% year-on-year to 66.759 billion rubles in the first half of 2025, the company said in a report.

Analysts predicted in a consensus forecast for Interfax that the company's net profit in H1 2025 would be 70.3 billion rubles.

The company's revenue decreased 9.7% YoY to 674.076 billion rubles, and the cost of sales grew 1.7% to 531.852 billion rubles. As a result, gross profit fell 66.7% to 142.224 billion rubles.

According to Tatneft's dividend policy from 2018, all available funds which are not used for investment purposes or to pay off liabilities are distributed as dividends.

The target payout ratio is set at no less than 50% of net profit to IFRS or RAS, depending which is higher. However, Tatneft has paid out more generous dividends over the last two years, distributing around 75% of its net profit to RAS as interim dividends.

The company traditionally pays out the first set of interim dividends for the first half of the year, followed by dividends for the third quarter and then final dividends for the year. Analysts surveyed by Interfax predicted that the company would pay its shareholders around 23.5 rubles per share for H1 2025.

Tatneft's charter capital totals 2,326,199,200 rubles divided into 2,178,690,700 ordinary shares and 147,508,500 preferred shares of 1 ruble par value each. As of December 31, 2024, the government of Tatarstan controlled approximately 36% of voting shares.