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Rosneft Code of Business Ethics, 453 Kb

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Financial Highlights

Sales, USD bln

    

EBITDA, USD bln

    

Adjusted net income, USD bln

   

2007   2008 2009 Change, %
49,216 Sales (USD mln)  68,991 46,826 -32.1%
14,459 EBITDA 1 (USD mln)  17,108 13,565 -20.7%
29.4% EBITDA margin  24.8% 29.0% +16.9%
17.96 EBITDA per boe of production (USD)  22.07 17.00 -23.0%
12,862 Net income (USD mln)  11,120 6,514 -41.4%
6,497 Adjusted net income 2 (USD mln)  10,449 6,472 -38.1%
13.2% Adjusted net income margin  15.1% 13.8%  
18.6% Return on average capital employed (ROACE)  17.5% 11.4%  
25.6% Return on average equity (ROAE)  30.6% 15.2%  
1,869 Free cash flow (USD mln)  5,614 3,443 -38.7% 
26,275 Net debt (USD mln)  21,283 18,489 -13.1%
0.48 Net debt-to-capital employed ratio  0.35 0.29  
1.82 Net debt-to-EBITDA ratio  1.24 1.36  
0.68 Current ratio  0.68 1.13  
6,780 Capital expenditures (USD mln)  8,732 7,252 -16.9%
5.73 Upstream capital expenditures per boe of production (USD) 8.36 7.35 -12.1%
3.08 Hydrocarbon lifting costs per boe of production (USD) 3.11 2.34 -24.8%
9.57 Share price as of year-end (USD)  3.75 8.42 +124.5%
1.60 Dividends per share (RUR) 1.92 2.30 19.8%

1 — EBITDA, for any relevant period, is operating income for such period plus interest on taxes other than income tax accrued in relation to Yuganskneftegaz tax liabilities for 1999–2004, accretion expense (related to the unwinding of asset retirement obligations), and depreciation, depletion and amortization.
2 — Net income adjusted for extraordinary items such as net proceeds from Yukos bankruptcy, effect from the income tax rate change, effect from assets impairment and other.

More detailed information could be found in the Analyst databook.

 



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