Gazprom posts 12% drop in 1H net profit under IFRS

Gazprom posts 12% drop in 1H net profit under IFRS The holding’s revenue for 1H totaled $61.5 blnMOSCOW, August 28. /TASS/. Net profit of Gazprom under International Financial Reporting Standards (IFRS) attributable to shareholders for the first half of 2026 totaled 863.9 bln rubles ($10 bln) compared to 983.1 bln rubles in the previous year (a decrease by 12.1%), the holding reported. "Net profit of Gazprom Group for the first half of the year amounted to 864 bln rubles. In the second quarter it equaled 519 bln rubles, an increase of 50% compared to the first quarter, and 61% compared to the second quarter of last year," Deputy Chairman of the holding Famil Sadygov was quoted as saying. Q2 2026 profit amounted to 518.6 bln rubles, up from 322.8 bln rubles in the previous year, while revenue stood at 2.5 trillion rubles compared to 2.18 trillion rubles. The holding’s revenue for 1H totaled 5.3 trillion rubles ($61.5 bln), up by 6.3%. Specifically, revenue from the oil business added 8%, while revenues from the gas business grew by 3%, Sadygov noted. Figures were driven by rising oil and gas prices on global energy markets in the second quarter of 2026. EBITDA of the group rose by 28% in six months year-on-year to 1.977 trillion rubles. Free cash flow increased 2.2-fold to 634 bln rubles. Operating cash flow adjusted for changes in short-term deposits reached 1.466 trillion rubles. The holding’s net debt in 1H 2026 was at the level as of the end of 2025 of 6.055 trillion rubles. Gazprom’s net debt/EBITDA ratio fell to 1.81 in the reporting period from 2.07 at the end of 2025. 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