Summary

Gazprom reported a $13.1 billion loss in 2024, driven by the loss of its European market and increased tax liabilities.

The company’s revenue rose by 11%, but falling share prices and a 25% income tax rate contributed to the deficit.

Gazprom’s 2023 gas exports to the EU fell to 32 billion cubic meters, significantly lower than peak levels.

The financial crisis forced mass layoffs, including 1,600 central office employees. The EU’s shift away from Russian energy and Ukraine’s refusal to extend a gas transit agreement exacerbated the situation.

  • Optional@lemmy.worldEnglish
    2·
    3 days ago

    What’s that in %? Like, Micro$quash makes 65 Billion a year, they could absorb (and do) that kind of loss without missing a beat. I would expect the state oil company of “a gast station masquerading as a country” to be at least that big.

    • Buelldozer@lemmy.todayEnglish
      7·
      3 days ago

      In your example MS makes 65 Billion so if a few business units lost 13 Billion it’s NBD, the overall company is still profitable. In this case though Gazprom lost 13 Billion across all units. What’s worse is that there’s no way for them to get more. They can’t sell stock and as a Government Russia is basically broke.

    • mosiacmango@lemm.eeEnglish
      2·
      3 days ago

      Go here and select "net income"

      2021 = +27b

      2022 = +16.8b

      2023 = -7b

      2024 = -13b

      This hurts them, a lot. Per the article, the EU is buying 1/6th the gas they used to.