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DTEK Energo reduces net loss by 31.6 times, to UAH 484 mln in six months
KYIV. Aug 28 (Interfax-Ukraine) – DTEK Energo in January-June 2021 reduced its net loss by 31.6 times (by UAH 14.832 billion) compared to the same period last year – to UAH 0.484 billion.
According to a report released on the company’s website, its revenue in the first half of the year increased by 15% (by UAH 3.067 billion) compared to January-June 2020 – to UAH 23.514 billion. Gross profit amounted to UAH 2.876 billion against UAH 0.421 billion of gross loss in the first half of 2020.
The press service of DTEK Energo told Interfax-Ukraine that the main reason for the unprofitable activity in the first half of the year was a protracted crisis in the energy industry, which entailed multibillion-dollar debts between market participants.
At the same time, the completion of loan restructuring in May 2021 had a positive effect on the company’s financial performance.
The growth in revenue was mainly due to an increase in the volume of electricity supply by 14.5% compared to the first half of 2020, when artificial restrictions of CHPPs on electricity production were in effect.
In addition, DTEK Energo in the first half of 2021 almost doubled its capital investments compared to the same period last year – to UAH 2.04 billion.
"The company is actively preparing for the heating season – it extracts and imports coal, repairs power units of thermal power plants. During the first half of the year, UAH 878 million was invested in the repair campaign of power units, in total this year it is planned to invest almost UAH 2.5 billion in the repair of thermal power plants," the press service noted.
