Gazprom
Company presentation
Open Joint Stock Company (OAO) Gazprom is the world’s largest gas business engaged in natural gas, gas condensate and oil prospecting, production, transmission, processing and marketing both inside and outside Russia. OAO Gazprom is the legal successor of the propri-
etary rights and obligations of State Gas Concern Gazprom, including the rights to use land, subsurface reserves, natural resources as well as the rights and commitments under the agreements concluded by the Concern. Gazprom possesses the richest natural gas reserves in the world, with its share in the global and Russian total making up some 17% and over 60%, respectively. Gazprom owns the gas trunklines integrated in the Unified Gas Supply System (UGSS) of Russia.
etary rights and obligations of State Gas Concern Gazprom, including the rights to use land, subsurface reserves, natural resources as well as the rights and commitments under the agreements concluded by the Concern. Gazprom possesses the richest natural gas reserves in the world, with its share in the global and Russian total making up some 17% and over 60%, respectively. Gazprom owns the gas trunklines integrated in the Unified Gas Supply System (UGSS) of Russia.
MICEX (Moscow), Frankfurt, London, RTS (Moscow)
| MICEX | Frankfurt | London | RTS | |
|---|---|---|---|---|
| Date | 07/15/2011 | 07/15/2011 | 07/15/2011 | 07/14/2011 |
| Currency | RUB | EUR | USD | USD |
| Previous Close | 201.60 | 10.17 | 14.25 | 7.21 |
| Change (%) | 0.30 | 1.30 | -0.35 | -0.55 |
| Volume | 0 | 195,599 | 30,364,704 | 0 |
| Number of Shares (mil) | 23,673.51 | 5,918.38 | 5,918.38 | 23,673.51 |
| Market Cap (mil) | 4,772,579.62 | 60,189.92 | 84,336.92 | 170,686.01 |
Key figures
| Financial results | 2006 | 2007 | 2008 | 2009 |
|---|---|---|---|---|
| Net sales, million RR | 1,632,653 | 1,774,979 | 2,507,010 | 2,486,940 |
| Sales profit, million RR | 504,003 | 486,602 | 895,626 | 553,269 |
| Net profit, million RR | 343,680 | 360,450 | 173,022 | 624,613 |
| Net assets, million RR | 3,655,206 | 4,663,467 | 4,773,521 | 5,398,689 |
| Short-term borrowings, million RR | 267,222 | 379,671 | 479,335 | 480,839 |
| Long-term borrowings, million RR | 630,590 | 886,225 | 928,679 | 1,071,209 |
| Capital expenditures, million RR | 276,886 | 201,924 | 264,630 | 213,519 |
| Net assets per share, RR | 154.40 | 196.99 | 201.64 | 228.05 |
| Earnings per share, RR | 14.52 | 15.23 | 7.31 | 26.38 |
| Dividends per share, RR | 2.54 | 2.66 | 0.36 | 2.39 |
| Financial ratios & Market indicators | ||||
| Return on equity, % | 9.40 | 7.73 | 3.62 | 11.57 |
| Return on assets, % | 7.55 | 6.08 | 2.80 | 8.99 |
| Return on sales, % | 30.87 | 27.41 | 35.72 | 22.25 |
| Current liquidity ratio | 2.95 | 2.80 | 2.72 | 2.59 |
| Quick ratio | 2.35 | 2.34 | 2.26 | 2.05 |
| Equity/assets ratio | 80.28 | 78.65 | 77.22 | 77.67 |
| Debt to capital ratio, % | 16.90 | 19.84 | 21.54 | 20.06 |
| P/E ratio (domestic OAO “Gazprom” share market) | 20.83 | 22.51 | 14.86 | 6.95 |
| Average market capitalization, billion USD | 239.3 | 259.0 | 241.1 | 116.0 |
Diagrams
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Gazprom is the largest joint-stock company in Russia.The total number of the Company’s shareholders is over 500 000. The state owns a 50.002 per cent controlling stake in Gazprom.
Gazprom’s equity capital| Stake, % as at 31.12.2009 | |
|---|---|
| Stake controlled by Russion Federation | 50.002 |
| The Federal Agency for State Property Management | 38.373 |
| Rosneftegaz | 10.740 |
| Rosgazifikatsiya | 0.889 |
| ADR holders | 24.350 |
| Other registered entities | 25.648 |
Initial Public Offering
On October 21, 1994 the Russian Federal Property Fund carried out, according to the Russian President Order No.1705 of December 31, 1992 and based on the outcomes of the specialized cheque auction for selling RAO Gazprom shares held in 61 regions of the Russian Federation between April 25, 1994 and June 30, 1994, the split-up of the Company’s shares. The shares were split in the following way: 1 (one) share with a par value of RUB 1,000 (one thousand) was split into 100 (one hundred) shares with a par value of RUB 10 (ten).
On May 20, 1993 RAO Gazprom issued 236,735,129 shares at a par value of RUB 1,000 per share. The share issue was registered by the Russian Federation Ministry of Finance (registration number MF73-1p-0204).
On August 19, 1998 the Russian Federal Securities Commission (FSC), introduced ad registered, according to the Russian Federation Government Decree No.217 of February 18, 1998 “On the Specifics of Securities Circulation Due to a Change in the Face Value of Russian Currency and the Scale of Prices”, the FSC Decree No.6 of April 20, 1998 “On the Order of Amendments into the Resolution on Securities Issue, Emission Prospectuses, Privatization Plans and Foundation Documents That May Arise from the Changes in the Face Value of Russian Currency and the Scale of Prices” and according to the FSC resolution of August 17, 1998, the amendments into the emission prospectus for ordinary nominal uncertified shares (state registration number assigned to the issue is MF73-1p-0204 of May 20, 1993). As a result, the face value of ordinary nominal shares accounts for RUB 0.01.
Thereafter, Gazprom’s first ordinary nominal uncertified stock issue (state registration number MF73-1p-0204 of May 20, 1993) at a nominal value of RUB 0.01 per share and 23673512900 shares in number was cancelled in terms of conducted on December 30, 1998 conversion to ordinary nominal uncertified stock of second issue at a nominal value of RUR 5 per share and 23673512 900 shares in number.
Entities recorded in Gazprom’s shareholders’ register and holding over 2 per cent of the shares as at December 31, 2009| Registered entity | Equity stake, % |
|---|---|
| The Russian Federation reperesented by the Federal Agency for State Property Managemen | 38.373 |
| OAO Gazprombank (nominee holder) | 41.985 |
| Rosneftegaz | 10.740 |
| Gerosgaz | 2.930 |
| E.ON Rurhrgas AG | 2.500 |
Secondary Public Offering
Ordinary nominal uncertified shares
Essential data on floating Gazprom’s securities (shares):
- Number of shares issued: 23 673 512 900 shares
- Nominal value of a share: RUB 5
- Total nominal value of shares issued: RUB 118 367 564 500
American Depositary Receipts (ADR)
ADR (an American Depositary Receipt) is a free-floating security issued by an American Depositary and representing ownership interests in the deposited securities of foreign companies.
ADR for Gazprom’s shares were issued to provide the floating of the Company’s shares in international markets. Before April 18, 2006 one ADR share was equal to 10 Gazprom’s shares.
On April 18, 2006 the number of Gazprom’s ordinary shares corresponding to one ADR was decreased from ten to four. ADR, floated earlier were automatically converted pursuant to the said ratio.
Since April 18, 2006 it has been also possible to convert Gazprom’s ordinary shares to ADR and back.
During 2009 ADR for Gazprom’s shares grew by 79 per cent up to USD 25.50 as quoted by the London Stock Exchange.Capitalization
OAO Gazprom’s market capitalization increased to US $144.5 billion as of the end of 2009. In spite of the growth in the market capitalization during the year, OAO Gazprom’s average market capitalization decreased by 51.7 % compared to 2008 to US $116.5 billion.
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