Nimble Novatek.

Novatek was one of the first in the sector to issue IFRS financial statements for Q1 2015. In general, the results can be described as positive. The company demonstrated significant growth in key financial indicators in a rather difficult market conditions. We may admit a slight decrease in profitability among the weaknesses in published reports.

From January to March Novatek's revenue increased by 28% q/q and reached 113.7 billion roubles. This happened despite the decrease in sales volumes of natural gas by 10% with a very low growth in sales prices. Sales decrease due to a fall in gas consumption due to the relatively warm weather was observed in the consuming regions within reporting period. The company also added that one of its largest customers had not taken the contracted volumes of gas.