BAKU, Azerbaijan, Nov. 17
By Nargiz Sadikhova - Trend:
Revenues of Kazakhstan’s Nostrum Oil & Gas PLC company amounted to $135.8 million over nine months of 2020, which indicates a decrease as compared to $250.3 million, Trend reports citing the company.
Net operating cashflows of the company stood at $68 million during the reporting period of 2020 which is over two times less than $160.2 million during the same period of last year.
Company’s earnings before interest, taxes, depreciation and amortization (EBITDA) for 9M2020 equaled $60.3 million compared to $162.1 million during the same period last year. EBITDA margin was 44.4 percent compared to 64.8 percent over 9M2019.
Closing cash for the period was $88.7 million, which is a decrease from $93.9 million as of December 31, 2019. Total debt as of September 30, 2020 was $1.1 billion, including accrued interest of $57.1 million. Net debt equaled $1.07 billion at September 30, 2020.
The company said it currently continues to focus on cost optimization to help manage the company’s liquidity.
Earlier this year the company said its revenues are expected to be in excess of $135 million over 9M2020 as compared to $250 million over 9M2019.
Thus, cash position was expected in excess of $88 million during the reporting period as compared to $91 million over 9M2019.
The total debt was expected not to exceed $1.1 billion and net debt was expected not to exceed approximately $1.07 billion as at September 30, 2020.
Nostrum Oil & Gas is an oil and gas exploration company based in North-Western Kazakhstan, with substantial infrastructure assets and connections to major export destinations.
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