Gazprom records a staggering net profit of 6.6 trillion rubles during the initial quarter
In the first quarter of 2025, Gazprom's net profit surpassed 660.4 billion rubles, marksing a marginal increase of approximately 1% compared to the same period in the previous year. The strengthening of the ruble led to profit from currency exchange differences, as the company revalued its foreign currency liabilities.
Gazprom's revenue for the quarter reached 2.809 trillion rubles, reflecting a slight increase of 1%. EBITDA (earnings before interest, taxes, depreciation, and amortization) decreased by 7% to 844 billion rubles. Gazprom's gas business accounted for a substantial contribution to the company's overall result, with its share in total revenue rising to 60% year-on-year.
Deputy Chairman Famil Sadikov described the beginning of 2025 as "confident" for Gazprom. Following the release of the financial report, Gazprom shares on the Moscow Exchange experienced a surge, peaking at 133.05 rubles, as per trading data. As of 16:40 Moscow time, shares were trading at 132.21 rubles.
Comparing the results to the previous year, Gazprom posted a net profit of 1.219 trillion rubles in 2024, a significant improvement over the loss of 629 billion rubles in 2023. Revenue amounted to 10.715 trillion rubles, a year-on-year increase of 25.4%. EBITDA increased by 76%, to 3.1 trillion rubles.
Although the strengthening of the ruble could potentially have reduced the value of Gazprom's exports, an increase in gas prices due to concerns over Ukrainian transit helped offset this effect, contributing to the company's revenue and profit growth.
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Gazprom's Finance department reported a 1% increase in net profit to 660.4 billion rubles in Q1 2025, indicating a promising start for the company's business operations. The revenue from the gas business sector accounted for 60% of Gazprom's total revenue in this period, demonstrating its significant influence on the company's financial performance.
