2010 Financial Highlights:
22% Increase in gross revenues
67% Increase in Total equity
41% Increase in EBITDA
52% Increase in Net profit after tax
63% Increase in SAS sales volume
33% Increase in LNG sales volumes
21% Increase in power sales
Despite tough economic conditions in 2010, GM&T went from strength to strength achieving an impressive £174.2m net profit after tax - an increase of 52% from 2009 to 2010. Our trading desk achieved very good results and a record year in 2010; however, a considerable portion of our growth and profit during the year was also contributed by our subsidiaries Gazprom Global LNG and Gazprom Marketing & Trading Retail.
In 2010, we added 172 new counterparties and increased our operational capability to transact in 46 new trading locations.
Our continuing strong performance within a difficult economic environment indicates that GM&T is a robust company which continues to progress towards its long term strategic aims.
Our results are incorporated within the reporting of our direct parent company Gazprom Germania GmbH and ultimately in the results of OAO Gazprom.”
Gazprom OAO 2010 Financial Results