Public Joint Stock Company Gazprom (GAZP) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was RUB 2,808,692 million, up slightly from RUB 2,778,865 million year-over-year.

• Net profit for the period reached RUB 694,400 million, a modest increase from RUB 677,375 million in Q1 2024.

• Comprehensive income attributable to owners was RUB 729,023 million, up from RUB 676,717 million year-over-year.

• The Group completed the acquisition of a controlling stake in LLC Sakhalin Energy, recognizing a RUB 191,507 million gain from a bargain purchase.

Financial highlights

• Operating profit declined to RUB 479,604 million from RUB 627,436 million year-over-year.

• Finance income surged to RUB 604,535 million (from RUB 141,358 million), while finance expenses decreased to RUB 143,937 million.

• Basic and diluted EPS was RUB 26.93, nearly flat compared to RUB 27.07 in Q1 2024.

• Cash and cash equivalents at period end were RUB 896,830 million, down from RUB 991,889 million at year-end 2024.

• Net cash from operating activities was RUB 945,624 million, with net cash used in investing and financing activities at RUB 764,383 million and RUB 231,729 million, respectively.

Outlook and guidance

• Management is monitoring the impact of ongoing sanctions, economic volatility, and regulatory changes but does not see a threat to business continuity.

• The Group's 2025 investment program totals RUB 2,818,037 million.