The profits of the Naftogaz of Ukraine increased by 4.5 times for the year

Прибыль Нафтогаза выросла в 4,5 раза за год

Photo: Naftogaz

Naftogaz paid $ 48 billion in dividends

A sharp rise in profits, first and foremost, the company has provided the arbitration decision and the payment of debts to Gazprom.

For 2019, the profit of Naftogaz amounted to 63.3 billion UAH, which is 4.5 times more than the previous year (13.6 billion). This is stated in golovolomnye.

The company’s profit includes income according to the results of a positive decision of the Stockholm arbitration on gas transit and decrease of the result from the internal sale and transportation of gas and increased costs for income tax.

According to the report, the adjusted EBITDA of the group in the past year fell by 28 percent to 65 billion UAH. Capex amounted to 27.7 billion UAH, which is 11% more than in 2018. The group’s net debt decreased by 2% to 42.6 billion UAH.

The report also reported that the enterprises of Naftogaz of Ukraine produced over the year to 16.1 billion cubic meters of gas (78% of the total production in Ukraine) and ensured the transit of 89,6 billion cubic meters of gas.

For the last Goch holding listed in the state and local budgets 121,4 billion UAH of taxes and dividends (around 16% of budget revenue).

Naftogaz has generated the largest profit among public companies of Ukraine in the amount of 50.6 billion. 95% of this amount, the group paid to the state budget in the form of dividends.

It is worth noting that in the first quarter of 2020 profit of Naftogaz amounted to UAH 3.2 billion — five times less than the previous year.