Key financial data for 2012–2013

Key Financial and Operating Data

2013

2012

Change, %

Financial results(RUB MILLION)

Sales

1,504,037

1,519,450

(1.0)

EBITDA is a non-IFRS measure. A reconciliation of adjusted EBITDA to profit before income taxes is provided in the Appendix.Adjusted EBITDA

336,752

323,106

4.2

RUB per TOE of production

5,408.8

5,411.3

(0.1)

Translated to USD at the average exchange rate for the period.USD per BOE of production

23.1

23.7

(2.3)

Profit attributable to OJSC Gazprom Neft

177,917

176,296

0.9

Net debt

185,922

156,922

18.5

CHANGES IN THE MAIN PROVISIONS OF THE ACCOUNTING POLICY

From 1 January 2013, Gazprom Neft applied a number of new IFRS standards, such as IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements, and IFRS 12 Disclosure of Interests in Other Entities. Due to the adoption of these new standards, particularly IFRS 11 Joint Arrangements, the Company switched over from the method of equity participation in Tomskneft and Salym Petroleum Development to proportional consolidation of assets and liabilities with respect to these companies.

The above operational information was restated (including past periods) to make it comparable with the financial information.

The detailed information on the adoption of IFRS 11 is disclosed in Note 2 to the consolidated financial statements for the year ended on December 31, 2013.