ROSNEFT Switching to IFRS Financial Reporting March 1, 2012
Reasons for the Switch to IFRS Reporting The federal law 208 On Consolidated Financial Reporting dated July 27, 2010 took effect on August 10, 2010. The law envisages switching to IFRS reporting in the middle-term from any kind of…
12M11 Financial Results Overview RUB bln IFRS US GAAP* Revenue 2,702 2,702 0 EBITDA 646 646 0 Net income 316 365 (49) Please refer to 5 slide Interest payments should be reported under operating activities Operating cash flow 487…
Difference in Net Assets RUB bln as at December 31, 2011 IFRS US GAAP Difference NET ASSETS 2,069 2,150 (81) Increase of Deferred Tax Liabilities resulting from Property, Plant and Equipment revaluation to fair (market) value (80)…
Difference in Net Income RUB bln for 12M 2011 IFRS US GAAP Difference NET INCOME 316 365 (49) Difference in Depletion, Depreciation and Amortization due to increase in Property Plant and Equipment following revaluation to fair…