Lukoil said that earnings before interest, taxes, depreciation and amortization (Ebitda) were $15.38 billion, an increase of 25.1%, compared to 2006. Revenue from sales rose by 21%, to $81.89 billion.
The increase in net income is attributed by Lukoil to favorable market conditions, high refinery margins, increase in refinery throughputs and hydrocarbon production as well as due to effective cost control.
The company noted that net income growth has been held back by the appreciation of the Russian ruble against the US dollar, increase in transportation tariffs and additional tax burden. The company’s tax expenses for 2007 totaled $27.9 billion, up 14.3%, compared to 2006.
