tatneft - Russia Tatneft H1 GAAP net profit plunges 60 pct - 500 Beiträge pro Seite

[rationalmind]

Reuters
UPDATE 1-Russia Tatneft H1 GAAP net profit
plunges 60 pct
Tuesday November 5, 6:10 am ET
By Dmitry Zhdannikov

(Adds more figures, analyst comment throughout.)

MOSCOW, Nov 5 (Reuters) - Russia`s sixth largest oil firm Tatneft (TATN.RTS) said on
Tuesday net profit dropped 60 percent in the first half, and analysts attributed the fall
to lower domestic and international oil prices.

Analysts praised Tatneft (NYSE:TNT
- News) for boosting its revenues by
increasing third-party oil and
products resale operations and its
ability to increase exports to
lucrative Western markets.

Tatneft`s unaudited net profit to
Generally Accepted Accounting
Principles (GAAP) plummeted to 6.7
billion roubles ($210 million) in the
first half of 2002 from 16.8 billion in
the same period of 2001.

It beat expectations in a poll of
analysts for net profit of $140-$190
million.

However, analysts reiterated that Tatneft`s overall position was weak compared with
market peers because its oil production was stagnating and its cost-cutting plan
unclear.

"Tatneft showed a sharp decline in profitability as a result of the crisis in the domestic
crude market in the first quarter of 2002," UFG brokerage said in a note to clients. "We
view the results as weak in the sector`s context."

Tatneft`s sales fell to 63.2 billion roubles from 75.3 billion, while its earnings before
interest, taxes, depreciation and amortisation (EBITDA) decreased 47 percent
year-on-year to $320 million.

"Despite the fact that these results came slightly above our expectations, we see them
as insufficient to change our `sell` recommendation," said Troika Dialog brokerage.

GOOD SIDE

Alfa-Bank said in a research note the boost of resale operations was a positive
surprise. Tatneft`s oil and oil products purchases rose to $423 million from $372 million
in January-June 2001, almost two times higher than Alfa`s expectations.

However, it also noted that the increase in export and resale operations had led to a
25.1 percent increase in social, general and administrative expenses in the first half of
2002 compared with a 24.7 percent decline expected by Alfa.

"The firm`s EBITDA versus oil production is the lowest in the industry at $3.57/bbl,
compared with the industry leaders` $8.88/bbl in Sibneft (SIBN.RTS), $7.10/bbl in
YUKOS (YUKO.RTS) and $6.13/bbl in LUKOIL (LKOH.RTS)," said UFG.

Troika also added that Tatneft`s net profit margin was one of the weakest in the sector
-- it declined to 11 percent from 22 percent a year ago, compared with a decline to 23
percent from 37 percent shown by Sibneft last month.

Tatneft produces 490,000 barrels per day (bpd), mainly from oilfields in the republic of
Tatarstan in the Volga region.

Its oilfields have been put onstream decades ago and the firm has said its output would
be flat over the next five years, unlike other Russian majors, which have been showing
double-digit output growth over the last few years.

The government of Tatarstan is a major shareholder in Tatneft, a factor viewed as
negative by investors. Local authorities have repeatedly pushed the firm to borrow
actively and fund different projects, sometimes unrelated to oil.

Its short-term liabilities were flat at 33.4 billion roubles at the end of the first half, while
long-term debt was also stable at 8.1 billion roubles.

"Tatneft believes that keeping its debt flat is a positive factor, while we would like to see
at least some efforts to replace short-term debt with long-term liabilities," said Valery
Nesterov from Troika Dialog.

[Elok]

Dieser Bericht sieht sehr interessant aus.
Ist das jetzt gut oder schlecht für uns.Vielleicht gibt es hier jemanden der es kurz und bündig übersetzen kann .
Gruß an alle Tati`s
ELOK

[Woron]

Ich mach mir mal die Mühe , obwohl ich nicht mehr investiert bin

Tatneft Nettogewinn fällt um 60%
Analysten schreiben das den niedrigen ölpreisen zu

Analysten loben TNT wg. ihrer Einnahmen
und wg. der möglichkeit Westl.Märkte zu bedienen
Nettogewinn:1.Halbjahr 210 mio $
Schätzungen waren ca. 140mio

Analysten beklagen die schwache Ölförderung die stagnierte
und das unklare Kostensenkungsprogramm
Umsätze fielen auf 63 Milliarden Rubel
EBITDA fiel auf 320 mioDollar

blabla
Troika bemerkt dass die Marge bei 11% nach 22% war
und das es die schlechteste der branche ist

TNT produziert 490000 barrel am tag
Die regierung in Tatarstan ist Hauptaktionär von TNT
ein negativer fAKTOR FÜR VIELE iNVESTOREN ; DA tATARSTAN
Tatneft teilweise dazu veleitet hat auch ausserhalb vom öl zu investieren??? hab ich auc nicht so ganz verstanden,, vielleicht ist damit Die Reifenfabrik gemeint und auch andere Firmen die TNT zum günstigen? Tarif übernommen hat


kurzfristige Verb. : niedrig bei 33 MRD rubel
langfr. : 8.1 MRD Rubel

"Tatneft glaubt Niedrige Schulden sind gut während wir es lieber sähen wenn sie ihre kurzen Verb. in langfr. umwandeln würden." Troika Irgendwie widersprüchlich

Naja ich hoffe ich habe ein bisschen geholfen
ach und verlasst euch nicht 100% auf meine Übersetzung

Gruss Woron

[Elok]

Vielen Dank das du dir die Mühe gemacht hast.
Ein frohes Fest und einen guten Rutsch.
Wie bist denn ausgestiegen ?
Gruß
Elok

[JosedelaVega]

auch meine letzten Tatneft sind heut geflogen

das Management hat jegliches Vertrauen meinerseits verlohren

allen ein gesegnetes neues jahr

josé

[Raimondo2]

Russia, Saint-Petersburg
Date: 2003.02.22 12:25

Tatneft Wants to Build Oil Refinery near Primorsk
SAINT PETERSBURG, February 22. The Tatneft oil company has sent an official letter to the Leningrad Region administration requesting a plot of land for the construction of an oil refinery in the Primorsk port area. This was announced yesterday at a press conference by Grigory Dvas, a deputy governor of the Leningrad Region and chairman of the Economic and Investment Committee. Dvas reminded journalists that Rosneft and Surgutneftegaz had previously announced their intention to construct an oil refinery together, although `Rosneft`s management have also made attempts to reach an independent solution, without Surgutneftegaz.
Dvas stressed that `we have no doubts that Tatneft and Rosneft are genuinely interested in these projects.` The deputy governor believes that all three companies have sufficient financial resources to build the oil refineries.

Rosneft and Surgutneftegaz signed an agreement with the Leningrad Region`s administration in the summer of 2002 on their intention to build an oil terminal at the Primorsk port. The capacity of the oil refinery will be approximately 6 to 10 million tonnes a year. The pipelines and oil-handling terminal are planned to be built near the village of Yermilovo. Investment in the refinery will total USD 1.4 billion and construction of the plant will take 4 years.


©2001-2002 Rosbalt News Agency

[Raimondo2]

--------------------------------------------------------------------------------
Tatneft
Downstream Expansion ? Ukraine
43.5% Stake In Ukrtatnafta On The Block? The Ukrainian government may sell
its 43.5% stake in the Ukrtatnafta refinery, a Ukrainian official said
yesterday. The Ukrainian government is required to give Tatneft the right
of first refusal before placing it on the auction block.
Acquisition Positive, If Nizhnekamsk Refinery Postponed ? Under Review.
The acquisition of the Ukrtatnafta refinery is a positive, as the price tag
is more favorable than upgrading its Nizhnekamsk refinery, and will boost
its refining capacity.
[e-mail] 21.2.03

[Elok]

Hilfe.Ich kriege es mal wieder mit der Übersetzung nicht
hin. Wer macht sich bitte für mich die Mühe ??
Gruß
Elok