PetroSibir: 2018 Results – Revenue Up 47%
Petrosibir’s Annual report for 2018 is available as of today 7 May 2019 on the company’s website
www.petrosibir.com. A PDF of the report is attached to this press release.
Changes since the year-end report was published 28 February 2019
In the year-end report published on 28 February 2019 the Petrosibir disclosed that the company evaluated the accounting for the 49% interest in Ripiano Holdings Ltd (“Ripiano”). Petrosibir has completed the evaluation and concluded that the accounting for Ripiano should change from the equity method to financial assets at fair value. The change is effective as of 1 November 2018 and the net effect of the change is that the net income amounts to SEK 6,751 thousand compared to previously reported SEK 10,388 thousand. The consolidated equity was affected by approximately 1% by the change. Please see the Annual Report 2018 for further details.
