Summary Financials

Annual overview
Quarterly overview

Annual overview

In millions of US$ (unless mentioned otherwise)	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Production (boepd)	36,940	46,178	44,400	40,391	40,351	39,199	31,254	28,540	22,337	17,032	13,200	10,091
Revenue	737.1	895.0	781.9	448.9	348.0	405.5	389.9	322.1	175.9	195.3	199.7	119.6
EBITDA⁽¹⁾	456.5	551.5	494.7	229.4	194.3	232	231.3	199.5	80.4	112.5	115.7	42.1
EBITDA margin	61.9%	61.6%	63.3%	51.0%	56.0%	57.2%	59.3	61.9%	45.7%	57.6%	57.9%	35.2%
Net cash flows from operating activities	291.8	358.6	349.1	153.3	206.5	182.6	214.0	196.8	82.7	117.4	102.2	(2.2)
Net cash used in investing activities ⁽²⁾	(269.7)	(239.0)	(304.5)	(245.3)	(204.8)	(192.2)	(172.0)	(120.4)	(40.1)	(19.8)	(15.8)	(28.1)
Cash & cash equivalents ⁽³⁾	251.4	244.1	400.4	165.6	101.1	127	121.8	93.9	78.6	165.2	233.6	161.7
Total debt	622.9	628.4	945.1	951.5	959.0	1,087.9	1,129.6	1,136.1	1,186.3	1,290	1,397	472
Net debt ⁽⁴⁾	371.5	384.3	544.7	785.9	857.9	960.9	1,007.8	1,042.2	1,107.7	1,124	1,163	310
Non-current assets	1,251.6	1,426.0	1,698.6	1,854.1	1,919.1	2,043.40	1,992.4	673.1	371.8	352	309	303
Total assets	1,602.7	1,760.8	2,208.2	2,188.4	2,106.5	2,265.10	2,199.5	846.3	505.4	565	590	519
Equity	695.1	832.5	917.7	773.8	692.0	669.6	557.0	(432.1)	(759.8)	(823)	(940)	(66)
Debt/equity	0.9x	0.8x	1.0x	1.2x	1.4x	1.6x	2.0x	(2.6)x	(1.6)x	(1.6)x	(1.5)x	(7.2)x
Net debt/EBITDA	0.8x	0.7x	1.1x	3.4x	4.4x	4.1x	4.4x	5.2x	13.8 x	10.0 x	10.1x	7.4x
Consolidated financials

⁽¹⁾ Defined as profit before tax net of non-recurring expenses, finance costs, foreign exchange loss/gain, ESOP, depreciation, interest income, other income and expenses.
⁽²⁾ IFRS term based on indirect cash flow method
⁽³⁾ Defined as cash and cash equivalents including restricted cash, current and non-current investments
⁽⁴⁾ Defined as total debt minus cash and cash equivalents

Quarterly overview

In millions of US$ (unless mentioned otherwise)	Q3 2021	Q4 2021	Q1 2022	Q2 2022	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024
Revenue	50.40	52.60	60.2	47.6	47.7	44.1	17.3	35.5	36.0	30.8	31.8	33.5	36.1
EBITDA ⁽¹⁾	31.30	28.40	40.5	28.4	26.0	20.8	4.6	10.9	17.5	9.1	10.6	11.7	12.4
EBITDA margin	62.10%	54.0%	67.3%	60.0%	54.5%	47.2%	26.4%	30.8%	48.7%	29.5%	33.3%	35.1%	34.3%
Net cash flows from operating activities	39.1	32.0	22.8	36.0	11.2	32.2	(20.8)	1.8	13.7	3.1	2.2	2.1	19.1
Net cash used in investing activities ⁽²⁾	(2.7)	(5.5)	(4.0)	(2.8)	(3.8)	(5.1)	5.4	4.9	(33.5)	(4.8)	(6.3)	(8.9)	(5.8)
Cash and cash equivalents ⁽³⁾	142.1	165.2	180.8	208.7	210.2	233.6	191.8	192.0	171.7	161.7	157.6	142.5	155.2
Total debt	1,256.8	1,290	1,316	1,344	1,370	1,397	430.0	454.9	471.0	471.7	500.3	518.6	549.0
Net debt ⁽⁴⁾	1,114.7	1,124	1,135	1,135	1,160	1,163	238.2	262.8	299.3	310.0	342.7	376.1	393.8
Non-current assets	329.6	352	342	332	324	309	294	281	303	303	305.7	308.7	310.4
Total assets	524.2	565	587	596	603	590	537	522	531	519	525.9	520.4	524.3
Equity	(815.8)	(823)	(837)	(858)	(881)	(940)	(5.3)	(39.9)	(64.5)	(65.7)	(93.6)	(113.8)	(142.6)
Debt/equity	(1.5)x	(1.6)x	(1.6)x	(1.6)x	(1.6)x	(1.5)x	(81.4)x	(11.4)x	(7.3)x	(7.2)x	(5.3)x	(4.6)x	(3.9)x
PDF version	PDF

⁽¹⁾ Defined as profit before tax net of non-recurring expenses + finance costs + foreign exchnage loss /gain + ESOP + depreciation – interest income + other (income) / expenses + cash received from the hedge
⁽²⁾ IFRS term based on indirect cash flow method, excluding transfers to and from current investments;
⁽³⁾ Defined as cash and cash equivalents including current and non-current investments but excluding restricted cash
⁽⁴⁾ Defined as total debt minus cash and cash equivalents

Financial Summary

A five-year summary of the main financial items is available in Nostrum’s Annual Report 2023 (see the “Strategic Report” section) available in PDF or print formats via the home page of the Nostrum website.