Forbes: Gazprom became the leader in the ranking of the most unprofitable Russian companies
At the end of 2023, the rating of the most unprofitable Russian companies was headed by Gazprom, whose minus according to international financial reporting standards (IFRS) amounted to 583.1 billion rubles. Related List introduced Russian Forbes.
The company took the lead after a super-successful 2022, in which it managed to earn 1.3 trillion rubles. However, as the publication notes, Gazprom’s first loss in a quarter century was mainly due to the depreciation of non-financial assets and exchange rate differences, but net cash flow from operating activities increased in the same period.
Second in the ranking was the Amur Gas Chemical Complex with a loss according to Russian accounting standards (RAS) of 71.9 billion rubles, which is almost ten times more than in 2022. The plant has not yet started operations, so the result is also largely due to foreign exchange losses from the translation of assets and liabilities into foreign currency.
#Gazprom #unprofitable #Russian #company